

U.S. companies have already spent a record **$517 million** on House and Senate races in the 15 months through the first quarter of 2026, surpassing the previous high of $461 million spent over the entire two-year 2024 cycle.

Three relatively new industries — cryptocurrency, artificial intelligence and online sports betting — account for at least **$294 million** of that total, according to Public Citizen data.

Key figures so far:

* Crypto-backed Fairshake super PAC began the year with a $193 million war chest (largely from Coinbase, Ripple and Andreessen Horowitz).
* AI-linked groups (tied to OpenAI and Anthropic executives or companies) have raised more than $140 million and $100 million respectively.
* Sports-betting companies (DraftKings, FanDuel and others) have donated over $72 million.

Additional large individual and corporate contributions include more than $90 million from Elon Musk, over $106 million from Google co-founder Sergey Brin in California races, and $65 million from Meta to multiple super PACs.

These industries, which barely existed a generation ago, are now the leading corporate funders of congressional contests. They are primarily channeling money through super PACs, affiliate PACs and dark-money nonprofits, often supporting candidates based on policy positions rather than party affiliation.

Overall political advertising for the 2026 midterms is projected to reach a new record of **$11.6 billion**.

**Source:** [**Reuters**](https://www.reuters.com/legal/legalindustry/new-kingmakers-crypto-ai-betting-firms-fuel-record-spending-2026-midterms-2026-08-20/)

Crypto, AI and Betting Firms Drive Record $517M Corporate Spending on 2026 U.S. Midterms