FanDuel, DraftKings, and private firm Fanatics directed over $41 million to a network of state-level super PACs. These funds target election races in Georgia, Texas, and Pennsylvania to influence local regulations. The companies aim to legalize sports betting and shape state tax policies.
Meta’s founders and venture capital firm Andreessen Horowitz (a16z) are also increasing political spending. These donations target policies regarding artificial intelligence and cryptocurrency. Firms are shifting focus to state legislatures due to legislative deadlock at the federal level to create favorable business environments.