DraftKings, Meta, and venture capital giant Andreessen Horowitz have quietly funneled millions of dollars into state-level political campaigns over the past year, according to campaign finance records. The spending marks a significant push by three major players in tech, gambling, and venture capital to shape policy where it often matters most — at the state house level.
Where the money is landing
None of the three companies is limiting its bets to a single party or race. Instead, contributions have been spread across dozens of state legislatures, governor’s races, and ballot initiatives. DraftKings, which runs online sportsbooks in more than two dozen states, is writing checks to both Democrats and Republicans who oversee gambling regulation. Meta, the parent company of Facebook and Instagram, is funding campaigns in states where privacy bills are pending. Andreessen Horowitz, known for its heavy investments in cryptocurrency startups, has directed cash toward candidates who support looser digital-asset rules.
The combined total runs into the millions. That figure does not include independent spending by political action committees tied to the companies or their founders.
Why state-level campaigns are the target
Federal gridlock has pushed the real action on tech, gambling, and crypto policy to state capitals. DraftKings needs friendly licensing and tax rates in each state where it wants to operate. Meta has spent years fighting state-level privacy and children’s safety legislation that could force changes to its advertising model. Andreessen Horowitz sees state cryptocurrency laws as crucial — some states have passed bills that explicitly allow banks to custody digital assets, while others have banned certain tokens.
By spending on state campaigns, the companies can influence the very lawmakers who will write and vote on those bills. It’s a direct investment in the regulatory environment they’ll have to live with for years.
The scale of the spending
Disclosure reports filed over the past four quarters show that DraftKings alone has spent more than $2 million on state-level candidates and committees. Meta’s contributions are slightly lower, though still in the seven-figure range. Andreessen Horowitz, which does not have a federal PAC, has routed its money through state-level PACs and direct contributions to individual candidates.
None of the companies has publicly discussed the strategy in detail. DraftKings did not respond to a request for comment. Meta referred to its standard policy of supporting candidates who “understand the internet economy.” Andreessen Horowitz declined to comment.
The quiet spending comes as several states prepare to consider new sports betting bills, data privacy frameworks, and crypto custody rules in their 2025 legislative sessions. Whether the millions will translate into favorable outcomes is an open question — one that voters, and rival industries, are watching closely.
