Photo: Macieklew / Wikimedia Commons / CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)
Crypto, AI and betting firms drive record midterm spending
US companies spent $517 million on congressional races in the first 15 months of the 2026 election cycle, Public Citizen found.
Crypto companies, artificial intelligence firms and online betting businesses have emerged as major forces in US congressional races, driving record corporate spending on the 2026 midterm elections, according to Public Citizen and political strategists.
US companies spent $517 million on House and Senate races in the 15 months through the end of the first quarter, exceeding the $461 million spent over two years during the 2024 elections.
Crypto, technology and online gaming companies accounted for at least $294 million of that spending. The industries have used super PACs, affiliated PACs and dark-money nonprofits to fund advertising, voter drives and rallies.
Crypto, AI and betting groups have spent heavily on candidates who support their policy positions, regardless of party. Public Citizen said the strategy risks giving narrow industries greater influence over crypto and AI regulation, data-center energy use and online gambling rules.
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Public Citizen expects total political advertising spending to reach a record $11.6 billion for the midterms, above the $11.2 billion spent in the 2023-2024 cycle.