Commentary: Gambling, special interests could spend half a billion dollars to buy your vote in November [Los Angeles Times (CA)]
Lyft, Inc. - Class A (LYFT)
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Source: Los Angeles Times
Brace yourselves, Californians. The onslaught of political advertising that will fly at us this election season is shaping up to be more intense than ever, with most of it trained on two dueling measures to permit sports betting. Gambling interests have already anted up roughly $350 million to wage campaigns for and against Propositions 26 and 27 on the November ballot. It’s a stunning sum of money, even for a state that’s used to big-dollar campaigns, and experts expect the total haul may grow to half a billion dollars by the time the election is over. That dwarfs the $224 million spent on the 2020 ballot measure that Uber and Lyft pushed to change state labor law — which, at the time, broke the record as the most expensive campaign in California history. Ride-hailing apps were willing to spend so much because the proposition amounted to an investment, allowing them to save money in the long term by not treating their drivers as employees. Similarly, voters this year are being
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