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Kalshi, Polymarket and their founders have contributed at least $5 million to Republican and Democratic political groups this election cycle, with recipients including a super PAC supporting Ohio Republican gubernatorial candidate Vivek Ramaswamy, according to Reuters.
The giving marks a sharp increase from the 2024 cycle as prediction-market companies face state efforts to regulate their wagers as gambling and growing federal scrutiny.
Polymarket donations include Ramaswamy-supporting PAC
Reuters, in a report published by Central Oregon Daily, found that Polymarket and CEO Shayne Coplan gave roughly $1.3 million combined to Republican recipients. Those included the Republican National Committee, a super PAC supporting House Republicans and V-PAC, which supports Ramaswamy.
That figure is the combined amount across those recipients, not the amount given to V-PAC alone.
Polymarket also supported Democratic groups. Blockratize Inc., which operates as Polymarket, transferred $1 million this summer to House Majority Forward, a Democratic nonprofit that does not disclose its donors. Reuters described that donation as previously unreported.
Across the companies and their founders, Republicans received $2.7 million, slightly more than Democrats.
State-level giving grows amid gambling disputes
Just over a third of the total contributions went to state-level groups backing candidates for governor, attorney general and state legislatures, according to Center for Political Accountability data cited by Reuters.
Kalshi gave nearly $1.5 million to those groups, split roughly evenly between the parties. Polymarket gave nearly $250,000 to two Democratic groups and one Republican group.
State gaming authorities, attorneys general and Native American tribes have sued to block prediction-market operators from offering sports bets. The companies maintain that their wagers are financial instruments overseen by federal agencies. Federal lawmakers are also scrutinizing insider trading and national security concerns.
“Regulation that keeps prediction markets safe for consumers and allows them to grow in America isn’t a partisan issue,” Kalshi’s head of federal government relations, John Bivona, told Reuters. He said full disclosures by Election Day would show the company’s donations roughly evenly distributed across both parties.
If you or someone you know has a gambling problem, call the Ohio Problem Gambling Helpline at 1-800-589-9966.
More from playohio.com – Polymarket US Sues Ohio Officials Over Sports Betting Requirements
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Source: As reported by Central Oregon Daily.
