More than 130 billionaires have contributed to the 2024 U.S. Presidential Election, with plenty of money given to both the Republican candidate, former president Donald Trump, and Democratic candidate, Vice President Kamala Harris. While Harris has seen more overall support from billionaires, according to a breakdown by Forbes, some prominent figures in the gambling industry are among the ultra-wealthy donors backing her opponent.
Four billionaires working in the gambling industry in some capacity, including Miriam Adelson, Steve Wynn, Phil Ruffin, and Kenny Troutt, have all donated to Donald Trump's reelection campaign.
The gambling leaders backing the Trump campaign have all contributed at least $1 million to the cause.
Trump’s biggest gambling backer
The biggest contributor has been Adelson, who owns the Las Vegas Sands and a majority stake in the Dallas Mavericks.
Adelson has long been associated with Trump, who awarded her the Presidential Medal of Freedom in 2018. She has also donated to previous Trump presidential bids. Adelson’s husband, Sheldon Adelson, was Trump’s largest donor during his successful 2016 presidential run. The Adelsons also gave Trump groups around $90 million in 2020.
For the 2024 election, Adelson has given significant amounts to the Republican candidate, donating $95 million to the pro-Trump Preserve American PAC in Q3 and more than $100 million total for the year.
Other contributors
Adelson isn't the only billionaire based in Las Vegas' famous gambling market to back Trump. Steve Wynn, who set up many successful casinos in the U.S., like Golden Nugget Atlantic City, The Mirage, and Bellagio, has also contributed to the campaign.
Wynn is most famous for setting up Wynn Resorts and establishing several locations across the globe, including Wynn Las Vegas and Wynn Macau.
Wynn also set up Treasure Island Casino, now owned by fellow billionaire Phil Ruffin. Ruffin, a business partner of Trump who rose to fame by co-owning Trump International Hotel Las Vegas, has contributed over $1 million to the former president's election campaign. Ruffin also operates other hotels, casinos, and greyhound racing tracks.
The final gambling contributions come from Kenny Troutt, a businessman who got his start in telecommunications with Excel Communications. After selling the company, he established WinStar Farm, which trains thoroughbred horses for racing. Troutt's horses have won the Kentucky Derby twice, the Belmont Stakes three times, and the Preakness Stakes once.
US election grips gamblers
While leaders in the U.S. gambling industry are spending money to sway the election results, plenty of regular citizens are also interested in spending money on the elections to make predictions about the winners.
Online betting on the U.S. presidential election odds is illegal in the U.S. Still, people have turned to platforms like Kalshi to trade event contracts and predict election outcomes in many states. Bettors have spent significant amounts predicting the election result, nearing almost $200 million in predictions on Kalshi alone.
According to a report from the American Gaming Association, both sides of the political spectrum show broad support for gambling and betting in the U.S.
