Sports betting industry spending on US midterm elections surpasses $72 million

NEW YORK, July 28 : DraftKings, FanDuel and other online sports betting companies have ramped up election spending on the U.S. midterms to at least $72 million so far, the latest campaign election data shows, as prediction markets like Kalshi and Polymarket bring fresh scrutiny — and competition — to online betting.The lucrative U.S. online sports gambling industry is confronting competition from what some see as a direct threat from a new breed of gambling across prediction markets, which the administration of President Donald Trump has embraced.The industry has become the third-largest corporate donor in the U.S. midterms behind crypto and technology, corporate watchdog Public Citizen estimates, pushing to get candidates elected to office who it hopes will be sympathetic to its issues.On