Crypto and AI-Funded Super PACs Are Metastasizing

Crypto and artificial intelligence industries have funded super PACs with more than $321 million in the 2026 election cycle. These groups spend millions to defeat candidates viewed as unsupportive of industry-favored regulation. The spending rivals major party-aligned outside groups and is expanding beyond traditional leadership-linked super PACs. Lawmakers are considering regulatory frameworks for crypto and AI, with both industries advocating light-touch approaches. Industry money is intended to ensure congressional priorities are hard to ignore. The Senate Banking Committee advanced the Clarity Act, a top crypto priority, after months of negotiation. Additional pledged spending includes a $100 million plan by a deregulatory AI-aligned nonprofit and tens of millions flowing into dark money advocacy groups.

"Super PACs funded by the cryptocurrency and artificial intelligence industries have amassed more than $321 million in the 2026 cycle, according to a review of Federal Election Commission filings, as they spend millions to knock out candidates they deem unsupportive of industry-favored regulation."

"The proliferation of these industry-funded super PACs, rivaling the size of the giant spending groups controlled by the Democratic and Republican parties, is making its mark on 2026 elections. In the last midterms, the four top spending outside groups were the super PACs tied to House and Senate leaders, crowned by the Senate Leadership Fund (SLF) backing Republican candidates. This year, they face competition from crypto and AI industry war chests willing to target both parties."

"Lawmakers are weighing foundational regulatory questions on crypto and AI. Both industries are pushing "light-touch" legislative frameworks, and the money ensures that their preferences are unmissable by congressional leaders trying to protect their members. The crypto industry's pressure campaign is up for a test: On May 14, the Senate Banking Committee advanced the Clarity Act, the industry's top legislative priority, after months of negotiation, setting it up for a full Senate vote."

"The over $321 million raised this cycle spans 14 federal and state super PACs bankrolled by AI and crypto companies, but even that sum doesn't capture all the pledged money from the AI industry. A new Republican-focused nonprofit aligned with the Trump White House's deregulatory AI agenda, Innovation Council Action, has pledged to spend $100 million in midterm contests, likely forming another super PAC. Tens of millions more dollars are sluicing into new "dark money" AI advocacy groups like the Anthropic-funded nonprofit Public First Action."

Read at The Nation