How the US Midterm Elections Will Affect the Gaming Industry
Democrats took control of the Senate and the House of Representatives in the US midterm elections on Tuesday. The short-term impact of the result on the gaming industry nationwide is expected to be limited.
The Democratic Party won several key races in the US midterm elections held on Tuesday, taking control of the Senate and the House of Representatives. With both chambers of Congress now in Democratic hands, the party has more power to block President Trump's agenda.
The outcome is not expected to have a direct short-term impact on the gaming industry nationwide. The future of prediction markets, one of the most debated topics in the sector right now, is more likely to be decided by the Supreme Court than by legislatures. Meanwhile, Trump's approval rating being near rock bottom and general dissatisfaction with the Republican Party could have an effect over the medium term. During Trump's time in office, CFTC Chairman Michael Selig granted prediction markets broad regulatory leeway. If dissatisfaction persists into the 2028 presidential election, a Democratic president could reverse the direction of this sector.
Democratic control of Congress could also make it harder for Trump to appoint a conservative judge if Supreme Court Justices Clarence Thomas or Samuel Alito leave office. Florida Governor Ron DeSantis considered the chance of confirming a "worthy successor" to these justices during the rest of Trump's term to be "zero." This could also affect a possible lawsuit over the legality of sports event contracts.
In Nevada, Democrat Aaron Ford won the governor's race by defeating incumbent Republican Governor Joe Lombardo in a tight contest. During his campaign, Lombardo had said he needed to look out for the "billionaires" of the gaming industry. Donors from the gaming sector gave Lombardo millions of dollars in support. Among them, Station Casinos contributed $3 million, the Fertitta family $2 million, and Las Vegas Sands $1 million. Ford received the backing of unions, including hotel unions representing casino workers.
In Ohio, Democrat Amy Acton won the governor's race by defeating Republican Vivek Ramaswamy. Acton supports legalizing online casino gaming, subject to certain conditions on oversight and advertising. In the state, online sports betting, as well as retail sports betting and casinos, are legal, but online casino gaming is banned. Republican incumbent Governor Mike DeWine opposed online casinos last year, arguing that the state had reached its saturation point.
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