US companies spent $517M on midterm races through March 2026, with crypto, AI, and betting firms contributing $294M. Fairshake still has $130M in reserve.
US companies have poured a record $517 million into congressional races between January 2025 and March 2026, surpassing the entire 2024 cycle’s total of $461 million with months still before the election. Crypto and AI companies, along with online betting platforms, accounted for at least $294 million of that sum, more than half the total corporate spend.
The crypto industry’s approach mirrors its 2024 strategy. Fairshake, the super PAC that became a major force in the last cycle, entered this one with a $193 million war chest. By mid-2026, it still held roughly $130 million in reserve, meaning it has already spent tens of millions and retains enough to influence races through November.
AI-focused super PACs are the newest big-money entrants. These groups have raised over $200 million and spent at least $44 million backing more than 40 candidates through June 2026.
Online betting platforms DraftKings and FanDuel have collectively donated more than $72 million, making them the third-largest bloc of corporate donors this cycle.
The report notes that one-third of all corporate political expenditures since 2010 have been amassed in this single cycle, driven by new wealth among billionaires in tech and gaming who are replacing traditional donors from finance, pharmaceuticals, and energy.
Fairshake still has $130 million in reserve.
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