Gambling and Prediction Market Interests Pour Millions Into Florida Elections, Largely to Donalds
Republican gubernatorial candidate Byron Donalds has attracted donations from prediction markets, gaming operators and the Seminole Tribe.
Gambling companies and tribal gaming stakeholders have poured more than $12 million into Florida politics ahead of the 2026 midterm elections, as sportsbook operators and prediction market companies eye a state dominated by the Seminole Tribe.
The Seminoles, which own Hard Rock International and hold exclusive rights to offer online sports betting in Florida, accounted for the majority of the spending. The tribe has donated roughly $9 million. That includes $4 million to Republican gubernatorial candidate Byron Donalds, according to the state database.
Under the state’s 2021 gaming compact, sports wagers placed by customers anywhere in Florida are deemed to occur on tribal land when processed through servers located there. The arrangement gives the tribe exclusive control over legal mobile sports betting in the state through Hard Rock Bet.
However, gaming companies such as FanDuel, DraftKings, Caesars, PrizePicks and Underdog, as well as the Sports Betting Alliance, have contributed significant sums despite being shut out of Florida’s conventional online sports betting market. Prediction market operators such as Kalshi and Robinhood have also made six-figure donations.
Much of the industry’s money is flowing toward Donalds, the prohibitive favorite to win the governorship, who has received over $6 million from gambling interests.
FanDuel, DraftKings, Kalshi Enter Florida Political Spending Realm
FanDuel contributed $581,000 through July, with nearly all going to Donalds’ political committee. DK Crown Holdings, DraftKings’ parent company, contributed another $525,000, with most of its spending also supporting Donalds. Caesars Entertainment contributed $245,000.
The Sports Betting Alliance, the trade group representing DraftKings, FanDuel, Fanatics, BetMGM, and bet365, contributed $250,000, all to Donalds.
Fantasy sports operators have also been active. PrizePicks parent Sideprize contributed nearly $400,000, while Underdog Sports donated over $280,000. Both companies offer fantasy products in the state, as well as prediction markets.
Prediction market leader Kalshi has also donated to Donalds. The company contributed $75,000 to the gubernatorial candidate and $268,000 in total across multiple donations. Online brokerage Robinhood, which also offers prediction markets, gave $200,000, entirely to Donalds.
Separately, Jeff Yass, co-founder of Susquehanna International Group and an investor in Kalshi, has contributed $7.5 million directly to Donalds and another $3.5 million to a political committee that later supported him. Susquehanna also has a direct interest in the prediction market sector as a co-owner, alongside Robinhood, of Rothera, a designated contract market (DCM), as well as a market maker on multiple exchanges.
Other tribal gaming interests have also been active. The Poarch Creek Indians contributed $555,000, including $100,000 to Donalds.
Prediction Markets Complicate Florida Gambling Landscape
While Hard Rock Bet is the state’s only authorized online sportsbook, and iGaming is not legal, several of the largest commercial gaming contributors have entered the prediction market space. DraftKings, Underdog, and Robinhood have launched their in-house platforms, while FanDuel and PrizePicks offer contracts via third-party exchanges.
Prediction markets — companies otherwise excluded from the state’s online sportsbook market — are offering sports event contracts without a Florida gaming license or participation in the Seminole compact.
That model has sparked legal battles across multiple states, with some arguing that sports contracts amount to gambling and are subject to state law. Prediction market operators maintain they are federally regulated under the Commodity Exchange Act.
Florida has so far avoided challenging the sector, making the position of its next governor potentially significant for prediction market operators.
Donalds is a prominent ally of President Donald Trump, who has endorsed his gubernatorial campaign. The president has been a vocal supporter of prediction markets. The Trump family also has direct ties to the industry, with Donald Trump Jr. serving as a paid adviser to Kalshi and an investor in Polymarket.
While the contributions do not establish how Donalds would approach prediction markets as governor, operators have a growing stake in whether Florida follows other states in seeking to restrict sports event contracts.
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