Exclusive: DraftKings, FanDuel, Fanatics, Bet365 fund sports gambling super PAC
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Several major sportsbooks have contributed tens of millions of dollars to a new super PAC to support sports betting throughout the country, Axios has learned.
Why it matters: Traditional sportsbooks have been advocating for broader legalization amid rising competition with prediction markets like Kalshi and Polymarket.
Driving the news: DraftKings, FanDuel, Fanatics and Bet365 — all members of the recently formed Sports Betting Alliance — have collectively contributed about $48 million to Win for America, according to two sources familiar with the matter.
- Win for America is supporting a network of state PACs, having already spent more than $20 million on primary elections in six states, including two states where sports betting isn't yet legal: Texas and Georgia.
- Other states they've targeted include North Carolina, Illinois, Ohio and Alabama.
- The organization expects to engage in as many as 15 more states between now and November, including Pennsylvania and New York, one of the sources tells Axios.
Zoom in: Win for America plans to disclose on Tuesday in public filings that it raised $41 million through the most recent reporting period.
- It's since raised another $7 million, including a post-reporting-period contribution from Bet365.
- "These organizations seek candidates who will thoughtfully approach regulation and ensure legal sports betting can continue to support communities through billions in tax revenue and jobs across America," a Win for America spokesperson tells Axios.
Behind the scenes: The rise of prediction markets has raised hopes among some betting industry leaders that state legislators will embrace legalization of traditional sportsbooks.
- The theory goes that lawmakers won't want to miss the chance to capture tax revenue that could be lost if prediction markets are allowed to continue operating without state gambling licenses.
But sportsbooks are also facing mounting pressure in certain states, such as recently increased taxes in Illinois, an effort to reverse mobile betting legalization in Ohio and an attempt to squash certain "micro" bets in New Jersey.
- "No one is trying to make it easier to operate a sportsbook from where I sit," sports gambling industry consultant Dustin Gouker tells Axios, adding that he's "pretty skeptical" that the rise of prediction markets will speed legalization efforts.
The intrigue: The major traditional sportsbooks aren't fighting the prediction market trend.
- DraftKings, FanDuel and Fanatics have all launched their own prediction market offerings, aiming to attract users in states where they aren't operating conventional sportsbooks.
Yes, but: That puts them in an awkward position as state gaming regulators are resisting prediction markets, while the Trump administration's Commodity Futures Trading Commission is supporting them.
- Win for America has no plans to spend on federal campaigns, according to two people familiar with the matter.
- A rep for DraftKings had no immediate comment, while reps for FanDuel, Fanatics and Bet365 did not immediately respond to requests for comment.
The bottom line: The stakes in the legislative battle over sports betting are escalating.
