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DraftKings launches PAC to influence gambling laws
A leading U.S. sports betting company, DraftKings, has taken a big political step by creating its first Political Action Committee (PAC).
After filing paperwork with the Federal Election Commission (FEC) to officially form the group named the “DraftKings” PAC, the company aims to support all those political candidates who support policies that somehow benefit the gambling industry. What does this mean?
This means more push towards the iGaming industry and more push against the new tax hikes, which hurt DraftKings’ business, such as the recent Illinois tax hike. To keep up with the news, DraftKings responded with a 50¢ fee per bet.
Being set up in Virginia, but representing the interests of Boston-based DraftKings, the PAC will collect donations only from those individuals who have legal connections to the company.
DraftKings and politics
DraftKings has dabbled in politics before, donating $464,000 to political campaigns back in 2024. More than half of the donations went to Democrats. However, it generally remained neutral, unless the X politics directly affected its business.
By forming a Political Action Committee, DraftKings hopes to have a positive influence on the laws of the iGaming market.
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