Crypto Lobby's Winning Streak Faces Rare Challenge

Fairshake, the crypto-backed super PAC, suffered its first loss in two years after spending over $10 million opposing Lt. Gov. Juliana Stratton in the Illinois Democratic primaries. Despite this setback, Fairshake's overall record remains impressive, with a 95% success rate across 40 races in the 2026 cycle.

The loss marks only the second time Fairshake has come up short in 2026, and it suggests that the crypto lobby's influence may have a ceiling in certain progressive strongholds. However, the PAC still has over $100 million to deploy, which is significant given its track record of success.

Fairshake's strategy of funding candidates willing to carry its policy positions appears to be effective, as seen in Rep. Barry Moore's Senate primary win with $12 million in backing from Fairshake. The PAC's bipartisan approach has been deliberate and successful so far, with wins across both parties.