Adelsons, Hard Rock, Winklevoss Twins Among Trump Ballroom Donors
Of the 37 donors, eight have a connection to casinos, prediction markets, or cryptocurrency
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Donors for the new Trump ballroom at the White House span a variety of not-so-sexy industries from sugar cane growing to water purification to fracking. But a look at the list of the 37 people and entities financing the controversial project reveals at least eight that have some ties to the legal gambling industry, prediction markets, or cryptocurrency.
The most recognizable of those names are the Adelson Family Foundation (Las Vegas Sands), Hard Rock International, and Cameron and Tyler Winklevoss (Gemini Cryptocurrency). But also on the list are cryptocurrency company Coinbase, Blackstone CEO Stephen Schwarzmann, and Intercontinental Exchange (ICE) Chairman Jeff Sprecher. Blackstone owns multiple Las Vegas Strip properties, while ICE is a key investor in the prediction market Polymarket.
The construction project has been front-page news since demolition for the $300 million project began last week. The East Wing was leveled in favor of a new structure that will house the ballroom, which Trump has promised is being financed by private donors.
On Oct. 23, the White House made the list of donors public, though their specific donation amounts are not available.
Polymarket, Kalshi, oh my!
With regard to casino owners, Blackstone and Hard Rock International own a combined total of three casino resorts on the Las Vegas Strip. Hard Rock, owned by Florida’s Seminole Tribe, purchased The Mirage property in 2022 and is in the process of renovating it into a guitar-themed property set to open in 2027. Blackstone owns the Aria and Vdara complex and neighboring Bellagio, both of which it purchased from MGM Resorts International. The Adelson family no longer owns any Las Vegas casinos.
Five other donors have at least some skin in the prediction markets or cryptocurrency industries. Cryptocurrency, while mostly illegal for use in gambling in the U.S., is accepted in some countries and there are multiple platforms, including Nigel Eccles’ BetHog, that are crypto-only casino sites.
Coinbase is a cryptocurrency payment provider and donor Charles Cascarilla founded blockchain firm Paxos, which supports cryptocurrency.
Sprecher and the Winklevoss twins have direct connections to prediction markets, the federally regulated trading platforms that have begun to offer sports event markets. Sprecher’s ICE announced a $2 billion investment in Polymarket in early October. The platform was poised to launch in the U.S. in late September, but appears to be held by the government shutdown.
The Winklevoss twins, who founded cryptocurrency exchange Gemini, appear to have played a key role in keeping Trump CFTC chair nominee Brian Quintenz from getting approval. Quintenz revealed texts from Tyler Winklevoss in which Winklevoss argues that Quintenz’s connection to Kalshi — a prediction market that is overseen by the CFTC — would be a conflict of interest if Quintenz won the nomination. Trump withdrew the Quintenz nomination shortly thereafter.
Two other donors have sports connections. Ed Glazer owns the NFL Tampa Bay Buccaneers and has a controlling interest in the English Premier League’s Manchester United, while Benjamín Leon Jr., Trump’s ambassador to Spain and Andorra, owns race horses.
