Crypto and AI Sectors Outspend Traditional Lobbyists in US Midterm Elections

Two major industries are emerging as significant players in US politics after the 2026 midterm elections. The crypto and artificial intelligence (AI) sectors collectively spent $127 million across more than 100 primaries, with roughly 90% of their backed candidates winning. The Digital Asset Market Clarity Act was the industry's top legislative priority, and crypto companies poured a total of $189 million into supporting it.

Crypto firms Coinbase and Ripple Labs were among the largest donors to super PACs Fairshake and Protect Progress, respectively. Fairshake received nearly $137 million in donations and still had around $127 million on hand, spending at least $51 million on two affiliated super PACs: Protect Progress and Defend American Jobs.

The AI sector also made a significant impact, with Marc Andreessen and Ben Horowitz donating a total of $115.3 million to various super PACs, including Leading the Future and Fairshake. This money was largely used to support candidates in both parties, with some notable exceptions, such as Democratic North Carolina Rep. Valerie Foushee, who won her primary by just one percentage point after receiving $1.6 million from Jobs and Democracy PAC.

While some candidates backed by the industries had significant victories, others suffered losses, including Democratic Michigan Rep. Shri Thanedar, who lost despite Fairshake spending $2 million in support of him.