Several key stakeholders in the horse racing industry, including Churchill Downs Inc. and the National Horsemen’s Benevolent and Protective Association, have urged the Federal Trade Commission (FTC) to scrutinize the Horseracing Integrity and Safety Authority’s (HISA) proposed $78.5 million budget for 2026. They criticize the budget as neither prudent nor cost-effective, highlighting concerns over rising per start fees—projected to reach $462 in 2025—and the disproportionate financial burden on smaller tracks and lower-stakes races. These stakeholders argue that HISA’s lack of transparency and governance, especially regarding administrative expenses which have surged by 41% since 2023, undermines trust and accountability.

In response, HISA CEO Lisa Lazarus dismissed claims that the authority harms smaller tracks, citing recent successes at venues like Emerald Downs and Tampa Bay Downs. However, industry critics remain unconvinced, demanding greater budgetary detail and oversight. Churchill Downs specifically called on the FTC to reject the current budget proposal, insisting on a rollback of the per start fee to 2023 levels and a thorough accounting of HISA’s expenditures to ensure fair and transparent use of industry funds.