Former President Donald Trump is expected to attend a high-dollar fundraiser his super PAC is hosting at Churchill Downs on Kentucky Derby Day.
Maggie Haberman of The New York Times reported the news on Thursday afternoon on Twitter, posting part of an invitation from Make America Great Again, Again! It showed the 45th President of the United States listed as the special guest for the May 7 event at the Louisville track.
The cost to attend is $75,000 per person or $150,000 per couple.
Additional details, such as the time of the event, its exact location at the track, or whether it includes a ticket to the race, are unknown. The invitation says attendees would receive additional details after they make their reservations.
Trump is set to appear a fundraiser his super PAC is holding at the Kentucky Derby, in McConnell’s state pic.twitter.com/2tYc7r8E6x
— Maggie Haberman (@maggieNYT) April 21, 2022
Super PACs, short for political action committees, differ from regular PACs in that the federal government does not limit the amount of money they receive from individuals or organizations. While regular PACs can contribute to political candidate campaigns, super PACs can’t. However, they can use their money, as Open Secrets notes, “to overtly advocate for or against political candidates” through television commercials, mailers, and other promotional material.
Super PACs also cannot coordinate their activities with candidates who benefit from them.
Kentucky Derby a Star-Studded Affair
The Kentucky Derby attracts a slew of celebrities, politicians, star athletes, and other famous people every year. Many of those individuals will watch the race from the track’s Millionaire’s Row, an indoor area with an adjacent three-tier balcony that lets people watch horses as they race across the track.
Every year, many high profile individuals choose to attend the Kentucky Derby, including prominent political figures,” Churchill Downs Inc. said in a statement Thursday night to Casino.org. “We do not comment on or confirm the attendance of individual guests or those holding private events not coordinated by Churchill Downs.”
Trump has attended the Derby previously. In 1999, he attended the Derby with his then-girlfriend Melania Knauss, who would later marry him and become the First Lady.
High Political Stakes Nationally
This year is a huge political year on the national level. With midterm elections for the House of Representatives and a third of the Senate seats on the ballot, Republicans hope to take control of at least one chamber, if not both.
Currently, at PredictIt, traders are confident the GOP will take back the House. As of early Friday afternoon, shares for the Republicans to win a majority in November were trading at 86 cents, while shares for Democrats were at 15 cents.
Shares for Republicans holding both the House and Senate were at 74 cents, while shares for a GOP House and Democratic Senate were at 17 cents. Shares for Democrats to hold on to both chambers were available for 11 cents.
Shareholders of the winning outcome will receive $1 per share.
If Trump can help get Republican candidates he supports into Congress and help the party win back both chambers, it likely strengthens his hand for the GOP presidential nomination. However, a poor showing by his picks may open the door for another Republican candidate.
Whether or not he can win in November 2024 remains to be seen. Currently, PredictIt traders have him as a slight favorite. His shares are trading at 28 cents as of Friday afternoon. Florida Republican Gov. Ron DeSantis is next, with his shares valued at 24 cents.
President Biden, meanwhile, currently trades at 22 cents per share.
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