No member or employee of the Commission, and no spouse or immediate family member of any such member or employee shall have any financial interest, direct or indirect, in any horse racetrack, satellite facility or operation incident thereto subject to the provisions of this chapter, or in any entity which has submitted an application for a license under Article 2 (§ 59.1-375 et seq.) of this chapter, or in the operation of any such track or satellite facility within the Commonwealth, or in the operation of any wagering authorized under this chapter, or participate as owner of a horse or otherwise as a contestant in any race subject to the jurisdiction of the Commission, or have any pecuniary interest in the purse or prize contested for in any such race. No member of the Commission and no spouse or immediate family member of a Commission member shall make any contribution to a candidate for office or office holders on the local or state level, or cause a contribution to be made on their behalf.