The mayor spoke out Wednesday night at a United Center welcome reception for the Beyond Sports summit in Chicago.
He led the city's efforts to host the 2016 Summer Olympics, but Rio de Janeiro was chosen instead.
On Wednesday, Daley claimed sports competition is not the top priority for Olympic officials.
"Money is the game of the Olympics. It's not about the Olympian. It's all about money, money. Money. That's all they want," said Daley. "I firmly believe it should be more about the Olympians and Para Olympians. It should be about them."
Daley said Chicago's bid helped the city improve its image worldwide, so he is glad the city tried to host the games.