For example, Reuters reported in July that sport betting has become the third-largest corporate donor in this midterm election cycle. Many online sports companies, such as DraftKings and FanDuel, have poured millions into the midterms because of competition with prediction market such as Kalshi and Polymarket.
The bottom line is they want to put campaign money behind officials who support gambling and will write legislation to defend it.
DraftKings has given over $34 million, and FanDuel over $27 million, to Win for America, a political action committee that can directs funds into both Democrat and Republican state campaigns.
Recently, Reuters also reported that during this election, Kalshi and Polymarket have collectively given over $5 million to both Democrats and Republicans. They appear to be favoring more Republican candidates as they fight against increased scrutiny and those trying to regulate their gambling wagers.
President Donald Trump has also shown support for the prediction market industry.
Critics warn that state-sanctioned betting causes widespread damage to American households while giving operators political leverage.
Talking about this on "Washington Watch," Les Bernal, national director of Stop Predatory Gambling, said government backing hides the damage.
"The government institution of predatory gambling represents... no single act that our government does that inflicts more financial harm, more mental health harm and more harm to the social well-being of American families than predatory gambling," Bernal stated
These prediction platforms, he adds, represents a form of financial fraud that relies on public officials to survive. Meanwhile, faith leaders, like Pastor Mike Fabarez, warn mobile apps bring the casino straight into the home, heavily impacting young people.
"The casinos have come to our pocket now. It's in the phone... It's the same thing happening here with gambling. Gambling is an addictive process, and it really has spiraled people... and it is targeting young men," Fabarez states.
Fabarez calls on pastors and youth leaders to confront gambling addiction directly, urging believers to reject greed and teach young men a godly work ethic.
