Crypto, AI and betting firms drive record spending in 2026 midterms

US companies have poured a record $517 million into congressional races between January 2025 and March 2026, blowing past the entire 2024 cycle’s total of $461 million with months still left before voters head to the polls. The three sectors doing most of the heavy lifting: crypto, artificial intelligence, and online betting. Together, those industries have contributed at least $294 million, more than half the total corporate spend. Who’s writing the biggest checks The crypto industry’s playbook looks familiar. Fairshake, the super PAC that became a kingmaker during the 2024 cycle, entered this election season sitting on a $193 million war chest. By mid-2026, it still had roughly $130 million in reserve, meaning it has already deployed tens of millions and still has enough dry powder to reshape races through November. AI-focused super PACs represent the newest entrant in the big-money political arena, and they’re scaling fast. These groups have raised over $200 million and spent at least $44 million backing more than 40 candidates through the end of June 2026. Then there’s online betting. DraftKings and FanDuel, the two dominant US sportsbook operators, have collectively donated mo...