US companies have committed a record $517 million over the 15 months through the end of the first quarter of 2026 to influence elections for the US House and Senate, according to Reuters. That tops the previous high of $461 million spent across the full two-year 2024 election cycle. Crypto, technology and online betting companies together accounted for at least $294 million, making those sectors some of the most important sources of money in the race.
Fairshake, the super PAC backed by Coinbase, Ripple and Andreessen Horowitz (a16z), started the year with $193 million and still has about $130 million on hand. A16z alone has donated more than $81 million to crypto- and AI-related PACs. Elon Musk has spent more than $90 million, while Meta donated $65 million to four super PACs. AI group Leading the Future raised $140 million, and Anthropic gave at least $40 million through dark-money nonprofits. Online sports betting companies including DraftKings and FanDuel contributed more than $72 million. AdImpact expects political ad spending in the midterms to hit a record $11.6 billion.
US companies have put a record $517 million into the 2026 House and Senate elections over the 15 months through the end of the first quarter of 2026, according to Reuters. The total is already above the previous high of $461 million recorded over the full two-year 2024 election cycle.
Crypto, technology and online betting companies accounted for at least $294 million of that total, making them a major force in shaping the midterm elections.
Crypto and tech money takes a leading role
Fairshake, the super PAC backed by Coinbase, Ripple and Andreessen Horowitz, or a16z, had $193 million at the start of the year and still holds about $130 million. A16z has donated more than $81 million to PACs tied to crypto and AI.
Elon Musk has spent more than $90 million. Meta donated $65 million to four super PACs. Leading the Future, an AI-related group, has raised $140 million, while Anthropic contributed at least $40 million through dark-money nonprofit groups.
Online betting firms also ramp up spending
Online sports betting companies including DraftKings and FanDuel have donated more than $72 million.
Political ad spending could set another record
AdImpact estimates that total political advertising spending in this midterm cycle will reach a record $11.6 billion.
Reuters said the industries involved are using super PACs, affiliated PACs and dark-money nonprofits to make unlimited expenditures on advertising, voter mobilization and other campaign activity. Critics say that has amplified the influence of niche issues including crypto regulation, data-center energy use and betting regulation.
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