The companies behind sports gambling platforms FanDuel, DraftKings and Fanatics Sportsbook poured $41 million into a new super political action committee this year as part of their broader effort to expand legalized sports betting across the US.
FanDuel Inc. gave $19.5 million, DraftKings' parent company contributed $17.5 million and Fanatics' subsidiary threw in $4 million to a new super PAC called Win for America, according to Federal Election Commission filings posted Wednesday.
Together, the investments mark a new chapter for sportsbooks' influence tactics. Though the companies have previously spent extensively in state-level elections, the creation of a federal super PAC gives them new power to try to shape the results of the November midterm elections.
The gaming industry has a lot at stake. It has been pushing to reverse a tax increase on gamblers Senate Republicans inserted into last year's tax law at the last minute. The provision, which took effect this year, limits gamblers to deducting 90% of their losses when it comes time to pay taxes, costing them $1.1 billion over a decade. Previously, gamblers could write off all of their losses.
FanDuel, DraftKings and Fanatics have also all recently launched their own online prediction market products, allowing users to bet on the outcome of sporting events. The sportsbooks are seeking to compete with leading prediction market platforms Kalshi and Polymarket, which have exploded in popularity over the past year. Sports betting makes up four-fifths of trading on Kalshi and nearly 100% of Polymarket's US-based activity.
Sportsbooks have traditionally had to seek licenses to operate on a state-by-state basis. DraftKings, FanDuel and Fanatics are all members of the Sports Betting Alliance, an advocacy organization that supports legal, regulated online sports betting and online gaming across the US.
Win for America is expected to focus on backing candidates who share that agenda. The super PAC ended the first quarter of this year with $7.5 million on hand.
The group has already given over $33 million to a separate pair of super PACs: American Future and the American Conservative Fund. The American Conservative Fund has given money to state-level political action committees in Georgia and Texas, as well as $3 million to a super PAC called Win for Pennsylvania.