StubHub spends millions lobbying against California's 10% concert ticket resale cap

StubHub is outspending Chevron, Verizon, AT&T and OpenAI on lobbying this quarter to defeat a California bill that would cap concert ticket resale markups at 10% above face value. The legislation is aimed at curbing the rampant price inflation that has made live event tickets unaffordable for many fans. StubHub's business model depends heavily on high-margin resale transactions.