Crypto, AI and Betting Firms Shatter Corporate Election Spending Records Ahead of 2026 Midterms

A new class of political kingmakers has emerged in Washington, as cryptocurrency companies, artificial intelligence firms, and online betting platforms pour unprecedented sums into the 2026 midterm elections, eclipsing the traditional corporate power brokers that dominated political spending for decades.

U.S. companies have spent a record $517 million on House and Senate races during the 15 months through the end of the first quarter, according to data compiled by corporate accountability nonprofit Public Citizen. That figure already exceeds the $461 million corporations spent across the entire two-year 2024 election cycle, and it does not include the blitz of advertising and campaign spending expected in the closing stretch before voters head to the polls on November 3.

Democrats are fighting to wrest control of both chambers from Republicans, making this midterm cycle one of the most fiercely contested in recent memory.

"The scale of corporate spending in this election cycle is unlike anything we've seen previously," said Rick Claypool, research director at Public Citizen. "One-third of the corporate money that's been spent since 2010 has been spent in this election cycle and it's not even over yet."