Florida Campaign Donations Could Signal Gaming Expansion

The Florida gubernatorial major is ready for Aug. 18. Gaming operators and prediction markets are shelling out some large bucks in that race and others, presumably indicating a transfer towards growth within the coming years.

By the top of July, donations from gaming pursuits reached a record $12.2 million in Florida races, in accordance with the Tampa Bay Times. About 75% of that complete was given by the Seminole Tribe of Florida. The tribe owns and operates the Hard Rock on line casino and on-line gaming model, which features a sports activities betting monopoly within the Sunshine State.

Companies like FanDuel, DraftKings, Kalshi, and others have additionally unfold across the money donations. That may point out that they’ve a purpose of getting into Florida’s gaming market.

Prediction markets have battled in courts with gaming regulators in a number of states, and that ultimately may play out in Florida. The extra money traded on the markets means fewer {dollars} going to the state from Seminole sports activities betting income, in accordance with gaming and sports activities betting legal professional Daniel Wallach.

“The next battleground is prediction markets and online gaming,” he stated. “It’s hardly shocking that politicians accept money from both sides of the debate.”

Majority Of Gambling-Related Donations Go To Donalds Campaign

Gov. Ron DeSantis (R) struck a cope with the Seminoles in 2021, permitting the tribe to solely supply on-line sports activities betting within the state. In flip, the state is assured at the least $500 million in annual income funds over 30 years.

That deal led to state and federal lawsuits that had been ultimately resolved in 2024.

U.S. Rep. Byron Donalds (R) is the frontrunner within the race for governor. He’s obtained about 50% of the donations from playing pursuits. None of the Democrat candidates have obtained near that quantity.

Donalds’ marketing campaign stated receiving donations from gaming pursuits doesn’t imply he would act on behalf of these teams if elected.

“Byron Donalds answers to no one but the people of Florida,” senior marketing campaign adviser Danielle Alvarez stated. “Byron will always make policy decisions that are in the best interest of our citizens and that abide by the constitution and laws of the land.”

Democrat gubernatorial candidate and former U.S. Rep. David Jolly has obtained far fewer gaming contributions. He stated teams just like the Seminoles and main donors which have spent large on Donalds’ marketing campaign hope to have a serious say on coverage within the state if he’s elected.

“All of them are funding Byron Donalds,” Jolly stated at a Democrat fundraiser in Tampa final weekend. “They don’t care about Byron Donalds. They want to make sure that they have more power than we do. And they’re using Byron Donalds to do it.”

Will Florida Enter The Prediction Market Fight?

Other firms and gaming entities ponying up marketing campaign money in numerous races embody PrizePicks, Caesars Entertainment, the Sports Betting Alliance sportsbook commerce group, and Robinhood Markets.

Robinhood has expanded past inventory trades to additionally embody prediction markets. The firm advised the Times that it despatched $200,000 to Donalds as a result of the model “remains focused on preserving and expanding access to the financial markets.”

Could prediction market legalization be a compromise for permitting the Seminoles to function on-line on line casino gaming? That stays to be seen, however the group has indicated growth into that area is a purpose.

“I think that if the [sports betting] case was resolved in our favor, we would then have to reinitiate conversations with the governor’s office, the House and the Senate,” Hard Rock International and Seminole Gaming CEO Jim Allen stated in 2024.

“And then that becomes a political process that we would navigate through. Certainly, the polling suggests that the citizens of the state of Florida would like to have it, but you have to go through the process.”

Unlike New Jersey, Nevada, and New York, state officers in Florida have but to weigh in on the prediction market problem.

Tribe Donates To Crist In St. Petersburgh Mayor Race

The Seminoles haven’t commented on their marketing campaign spending, however the tribe has donated $50,000 to former Florida Gov. Charlie Crist (D), who’s working for St. Petersburg mayor.

Current Mayor Ken Welch, who’s working for re-election, has voiced considerations in regards to the donation to Crist. Some assume the tribe may need designs on constructing a on line casino within the space.

“It is a concern to see the Seminole Tribe make a single contribution in a St. Petersburg race that’s more than all the money that some other candidates have raised,” Welch stated. “It’s a dangerous moment.”

Crist does have some historical past with the tribe. As a Republican governor in 2007, Crist reached a 25-year playing compact with the Seminoles to permit slot machines and banked card video games like blackjack at tribal casinos in trade for tens of millions in income sharing.

The Florida Supreme Court, nonetheless, dominated that the settlement wanted legislative approval. The deal was later revised and accredited by the Legislature.

Florida Gaming Campaign Spending