Washington, DC, 20 August (Brussles Morning Newspaper) – A new group of corporate powerbrokers is pouring money into America’s congressional elections, pushing US midterm election spending to record levels as cryptocurrency, artificial intelligence and online betting businesses seek a bigger voice in Washington.
The numbers are striking. Corporations have disclosed $517 million in spending to influence federal elections during the 2026 cycle, according to an analysis by consumer watchdog Public Citizen. That is already above the $461 million recorded across the whole 2024 election cycle, with the November vote still more than two months away.
Crypto money leads the surge
The biggest change is coming from industries that, until relatively recently, were minor players in national politics.
Crypto, AI, Big Tech and online betting companies have collectively contributed $294 million during the current cycle, Public Citizen found. That represents 57% of the $517 million in disclosed corporate political spending.
Crypto businesses account for $189 million of that total. Major contributors identified in the watchdog’s analysis include Ripple Labs, Coinbase and Crypto.com, while venture capital firm Andreessen Horowitz has also emerged as a major source of political money.
Much of the cash is flowing through super PACs rather than directly to candidates. Fairshake, which backs candidates regarded as supportive of the crypto sector, has received $82.6 million in corporate crypto contributions, according to Public Citizen.
The pattern matters because Congress is making decisions that could determine how digital assets are regulated for years to come.
AI firms build political influence
Artificial intelligence is following a similar path.
Public Citizen calculated that AI and Big Tech companies have contributed around $60 million during the cycle, with $50.1 million going to Leading the Future, a political group focused on electing candidates supportive of AI development.
A separate analysis by Americans for Financial Reform shows how quickly that political operation has expanded. Eight major crypto and AI PACs raised $216.1 million between January 2025 and the end of June 2026.
By 28 July, those groups had spent more than $100 million trying to influence more than 70 congressional contests across 28 states.
The money is not simply following traditional Republican-versus-Democrat lines. Industry-focused groups can support or oppose candidates according to their positions on regulation, regardless of party.
Betting companies join Washington spending race
Online betting businesses have become another significant source of campaign money.
Public Citizen identified $45.6 million in corporate contributions from the sector, including $43 million directed to Win for America PAC.
That political push comes as betting and prediction markets become increasingly prominent in American elections. Reuters reported this week that $133 million had already been wagered on the 2026 midterms, surpassing the $92.4 million recorded during the entire 2024 congressional election cycle.
The industry’s growing financial and political footprint is likely to keep questions about regulation firmly on Washington’s agenda.
Watchdog says the real total could be higher
Public Citizen research director Rick Claypool said the change had accelerated after crypto companies demonstrated their political influence during the previous election.
“Crypto corporations shattered norms against corporate spending in elections last cycle and now many others are following suit,” he said.
There is an important qualification to the headline figures. Public Citizen’s analysis uses Federal Election Commission records covering contributions of at least $5,000 by for-profit corporations to super PACs and hybrid PACs.
It does not capture every route through which corporate money can enter politics, including funding channelled through groups that do not disclose their underlying donors. The organisation therefore believes the disclosed $517 million figure understates the full amount.
Why the record spending matters
The battle is ultimately about more than campaign advertising.
The next Congress will have influence over rules affecting cryptocurrencies, artificial intelligence and the rapidly developing betting and prediction-market industries. For businesses whose future profits could depend on those decisions, congressional races have become increasingly valuable political battlegrounds.
The scale of US midterm election spending also raises a wider question over how much influence industries with enormous financial resources can exercise over candidates before they arrive on Capitol Hill.
The Battle for Influence Is Far From Over
The United States votes in its midterm elections on 3 November, meaning there is still time for political groups to spend significantly more.
Several crypto and AI organisations have raised far more than they have deployed so far, leaving substantial funds available for the closing stages of congressional races.
Further Federal Election Commission filings will reveal more about where the money goes. For now, the emerging picture is already clear: crypto, AI and betting companies are no longer on the fringes of Washington’s political financing system. They have become some of its biggest players.
