AI, Crypto, and Trump PACs: Millions Fueling 2026 Midterm Battles

The Rising Influence of Tech Money in the 2026 Midterms

Campaign finance reports reveal a significant shift in political spending, with groups tied to the cryptocurrency and artificial intelligence industries injecting tens of millions of dollars into the 2026 midterm elections. This influx of capital signals a potential reshaping of the political landscape as these groups aim to influence policy in Washington and support candidates from both parties.

Crypto Groups: A $290 Million Force in 2024

Pro-crypto groups established themselves as major players in the previous election cycle. Fairshake, backed by Coinbase and venture capitalists, led the charge, along with aligned groups Defend American Jobs and Protect Progress. Combined, they spent a staggering $290 million in 2024. Their efforts included supporting Ohio Republican Bernie Moreno against Democratic Sen. Sherrod Brown, opposing Democratic Rep. Katie Porter’s Senate bid, and boosting Arizona Democrat Ruben Gallego and Michigan Democrat Elissa Slotkin in their successful Senate campaigns.

Fairshake: The Crypto Powerhouse

Fairshake alone ended 2025 with nearly $194 million, demonstrating the immense financial resources available to advocate for crypto-friendly policies. This substantial war chest allows them to significantly impact primaries and general elections.

Leading the Future: The AI Super PAC Emerges

A new player, Leading the Future, is making waves in the political arena. This pro-AI group pulled in over $50 million between August 15 and December 31, 2025, receiving significant contributions from OpenAI co-founder Greg Brockman and venture capitalists Marc Andreesen and Benjamin Horowitz. The group's willingness to support candidates from both parties has drawn scrutiny, including frustration from some White House officials.

Targeting Primaries: AI's Influence in New York and Texas

Leading the Future is actively involved in two open House seat primaries. They are opposing state Assemblyman Alex Bores, who sponsored AI safety legislation, in a New York City district, and boosting attorney Chris Gober in a deep-red Texas House seat. This demonstrates a strategic focus on shaping the debate around AI policy at the local level. Learn more about the AI wedge issue in the midterms.

Trump's MAGA Inc.: A $304 Million War Chest

Despite Donald Trump's ineligibility to run for president again, his super PAC, MAGA Inc., remains a dominant force. The group closed the year with a massive $304 million, having raised over $112 million in the second half of 2025. Much of this funding came from individuals with business interests before the administration or those facing legal challenges. Explore the new megadonors backing Trump's super PAC.

Elon Musk's Political Spending

Tech billionaire Elon Musk has continued to donate millions to Republican groups, seemingly patching up his relationship with Trump. He gave $5 million checks to the Senate Leadership Fund and Congressional Leadership Fund, and $2.9 million to his own political group, America PAC, which spent a quarter-billion dollars in the previous election cycle. While America PAC has limited funds remaining, Musk's wealth ensures continued influence.

Traditional Party Committees: Maintaining Financial Strength

The Senate Leadership Fund and Congressional Leadership Fund, aligned with the Senate and House GOP leadership, raised significant funds as well. The Senate Leadership Fund closed the year with $100 million, while the Congressional Leadership Fund had $54.5 million. On the Democratic side, the House Majority PAC raised over $48 million and ended the year with $46 million in cash on hand.

Pro-Israel Group United Democracy Project

United Democracy Project, a pro-Israel group aligned with AIPAC, raised over $61 million and ended 2025 with almost $96 million. The group actively participates in primaries on both sides of the aisle, with a particular focus on Democratic contests. Read about their involvement in the New Jersey special election. Notably, the group received a $30 million donation from AIPAC and significant contributions from GOP mega-donor Paul Singer.

Emerging Challenges for Democratic Lawmakers

Democratic lawmakers are facing new primary threats amid generational and ideological divisions. Leaders We Deserve, led by activist David Hogg, announced a $20 million effort to back young candidates in deep-blue districts. The group raised over $7.8 million in 2025, ending the year with nearly $2.3 million in its campaign account. Discover how David Hogg is disrupting the Democratic party.