Crypto-backed political action committees are stepping up spending in pivotal U.S. primaries as lawmakers try to move digital asset legislation before Congress leaves Washington this week. Major Democratic primaries in Maryland and New York took place Tuesday, while Senate offices and industry advocates kept negotiating the CLARITY Act ahead of the July recess.
Protect Progress focuses money on Maryland and New York races
In Maryland’s 5th Congressional District, Protect Progress, an affiliate of Fairshake, has spent about $5.5 million to support Maryland State Delegate Adrian Boafo. Boafo is running to replace retiring Congressman Steny Hoyer. He is competing against more than 20 Democratic candidates in the primary, according to the source material, and has endorsements from Hoyer, Maryland Governor Wes Moore, and Senator Angela Alsobrooks.
Campaign statements said Boafo backs policies tied to blockchain and digital asset innovation. Prediction market data also placed him among the leading candidates in the race.
New York’s 15th Congressional District has drawn similar attention. Protect Progress directed roughly $1.5 million to support Representative Ritchie Torres. Fellowship PAC separately spent about $300,000 on ads backing Torres ahead of Tuesday’s primary.
Earlier in the election cycle, Fairshake spent around $12 million in Alabama’s Republican Senate primary runoff in support of Representative Barry Moore. The spending pattern shows how the crypto industry is concentrating political capital on selected congressional contests.
Senate negotiations stay centered on market structure and ethics rules
While the primaries draw headlines, work on the CLARITY Act is still active. Member meetings and staff-level talks are focused on committee language, ethics provisions, and illicit finance measures. Crypto In America reported that senators want to resolve outstanding issues before Congress starts a two-week recess on Thursday. Discussions are expected to continue through the week.
Industry advocacy has picked up at the same time. The Digital Chamber scheduled meetings between its members and lawmakers to support passage of the bill. The group said more than 50 members planned meetings with Senate offices on Tuesday, followed by a separate fly-in with House offices on Wednesday focused on tax matters.
Digital Chamber CEO Cody Carbone said urgency has risen as the legislative calendar tightens. He said the organization remains focused on advancing market structure legislation this year.
Prediction market proposals face limited momentum
Gaming industry groups have also been lobbying senators to add provisions affecting prediction market platforms such as Kalshi and Polymarket. People close to the negotiations said those proposals currently have limited momentum, with lawmakers prioritizing other unresolved sections of the CLARITY Act.