Depending on what poll you look at, it is becoming clear that former President Donald Trump has a realistic chance at reelection. If that happens, he will only be the second US President to serve non-consecutive terms.
The iGaming world is watching this race closely, as any power transfer in the White House will impact the iGaming industry.
Today, we will briefly examine whether a second Trump presidency is good or bad for iGaming in the United States.
Key Highlights
- Trump is a pro-Bitcoin candidate.
- Trump is historically against online gambling.
- Project 2025 does not mention anything about gambling policy.
Trump is the Pro-Bitcoin Candidate
It is no secret that Bitcoin and cryptocurrencies are the lifeblood of many online casinos. Some online casinos only accept crypto payments, so the emergence of former President Trump as a pro-Bitcoin candidate will certainly benefit crypto casinos or those that use crypto.
Keynote Speaker at Nashville Crypto Conference
Trump is scheduled to be the keynote speaker for the Bitcoin Conference on July 25-27 in Nashville, TN. Various news sources have confirmed that the former President will speak despite the recent attempt on his life.
Bitcoin is becoming more mainstream in the United States, thanks partly to the emergence of Bitcoin ETFs, which allow people to invest in crypto without holding an asset. Support from a potential Trump administration will help grow the acceptance of crypto projects and help to provide necessary banking support to casinos.
Silicon Valley Support?
Silicon Valley appears to be supporting Trump. The Hill reported on comments from Dallas Mavericks owner Mark Cuban about Bitcoin1, who said, “It’s a bitcoin play. Lower tax rates and tariffs will drive the price of BTC, which, if history is any guide (and it’s not always), will be inflationary.”
He continued, “Combine that with global uncertainty as to the geopolitical role of the USA and the impact on the US Dollar as a reserve currency, and you can’t align the stars any better for a BTC price acceleration.”
“It’s a bitcoin play.“
– Mark Cuban’s thoughts on Silicon Valley’s support of Trump
Trump’s Previous Administration Sought to Stop iGaming
One would have assumed that a former casino operator would have supported regulating online gambling. That proved quite the opposite during Trump’s last term in office.
The previous Trump administration sought to block online gambling, with the DOJ claiming that the Wire Act of 1961 included online gambling.
However, a 2019 ruling by the US District Court for the District of New Hampshire ruled that the Wire Act only applies to sports betting. This left the door open for states to pursue iGaming regulation.
What Can We Expect on iGaming Stance?
While Trump has been a pro-Bitcoin candidate, little suggests that he has changed his stance on iGaming regulation. What could this mean? The DOJ may start attacking iGaming yet again, trying to find a way to block its spread.
However, the good news is that Congress remains split. Republicans control the House, while Democrats control the Senate. Any attempts to regulate iGaming at a Federal level will likely fall flat. As such, I expect to see no forms of legislation submitted.
What Does Project 2025 Say About Gambling?
There’s good news, and maybe even better, regarding Project 20252 and gambling.
The good news is that gambling is not mentioned in any form in the document, outside of an Endnote on page 715 stating that casinos are considered financial institutions.
Is Gambling a Priority for the RNC?
The other piece of good news that can be gleaned from Project 2025 is that the Republican Party does not consider gambling as a priority issue for them to tackle. Considering the controversy surrounding some of the document’s ideas, this may be the best outcome for the industry.
Keep in mind that Project 2025 is still just an outline of what the Republican Party would like to accomplish. While the former President is trying to separate himself from the document, one can naturally assume that it will influence policy should he become President again.
Little May Change with a Second Trump Presidency
If Trump wins a second term, he will be a “Lame Duck” President with four years to make changes to the country. As such, his administration will likely focus on –what they consider– the country’s “big picture” issues.
While it is a big deal to us, online gambling does not appear to be a high-priority item for the administration. As such, a second Trump presidency will be neutral for the industry.
Looking at his history with iGaming in the United States, a neutral term is probably a best-case scenario. As the next election virtually guarantees a younger and hopefully more enlightened set of candidates, we should look forward to 2028 when considering the future of iGaming.
Sources
1 https://thehill.com/policy/technology/4777558-mark-cuban-silicon-valley-trump-bitcoin-elon-musk/
2 https://en.wikipedia.org/wiki/Project_2025
