FT: Bookmakers Have Entered The Political Arena In The U.S.

• 2.11.2026, 18:35

Online betting companies have invested more than 80 million in both parties.

The largest U.S. online gambling companies have contributed more than $80 million to political organizations vying for seats in state legislatures. Bookmakers and prediction market platforms are funding candidates from both parties in an effort to influence the future regulation of gambling in the U.S., according to Financial Times.

The money is being invested amid intensifying competition between traditional bookmakers and prediction platforms Polymarket and Kalshi. The latter are regulated at the federal level as companies dealing in financial derivatives and are not subject to the same taxes and restrictions as the bookmaking industry. In July, 44 state attorneys general called on the federal regulator to reconsider this approach.

DraftKings, FanDuel, Fanatics, and Bet365 contributed more than $80 million to the Win for America committee. The bulk of the funds went to organizations supporting Republican and Democratic candidates.

Separately, DraftKings and FanDuel each invested $10 million in a campaign to legalize mobile sports betting in Nebraska. “If prediction markets are already operating in your state, why not push for the legalization of sports betting?” said DraftKings CEO Jason Robins.

The prediction platforms themselves also fund politicians. Blockratize, the company that owns Polymarket, contributed $1 million to the Republican organization Congressional Leadership Fund. Its CEO Shane Copeland donated an additional $250,000 to the Republican Party.

Kalshi and its CEO Tareq Mansour reported political donations totaling nearly $2 million. The funds went to organizations and candidates affiliated with both Republicans and Democrats. The company stated that it intends to maintain balanced relationships with both parties.