Crypto, online betting and Big Tech drive record $737 million in US midterm spending

04 Nov 2026 05:49

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Digital finance
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Corporate political spending in the 2026 US midterm elections has reached a record $737 million, marking a 60% increase compared with the entire 2024 presidential election cycle, according to new campaign finance data.

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The consumer advocacy organization, founded by Ralph Nader in 1971, analyzed Federal Election Commission filings through late October, filtering corporate contributions and excluding duplicate donations associated with company executives.

According to the findings, cryptocurrency companies were the largest contributors among the three sectors, providing approximately $233 million during the election cycle.

Online betting companies contributed another $85.2 million, while Big Tech firms and businesses involved in artificial intelligence and data center development accounted for $73.1 million.

Together, these industries represented approximately 53% of all reported corporate political contributions during the 2026 midterm election cycle.

The latest figures significantly exceed the $461 million spent by corporations during the 2024 presidential election and the $184.1 million recorded during the 2022 midterms.

Public Citizen also found that President Donald Trump's MAGA Inc. super PAC received approximately $141 million in corporate contributions, accounting for 19% of reported corporate spending.

Silicon Valley venture capital firm Andreessen Horowitz emerged as the largest individual corporate contributor, providing approximately $72 million, primarily to political committees focused on cryptocurrency and artificial intelligence regulation.

The organization noted that corporate political spending has increased substantially since the US Supreme Court's 2010 Citizens United ruling, which expanded opportunities for independent corporate political expenditures.

Since that decision, corporations have spent approximately $1.8 billion on federal elections, with the 2026 midterm cycle accounting for more than 40% of the total.

Public Citizen cautioned that the figures likely underestimate overall corporate election spending because some political contributions are not publicly disclosed.

The record spending comes as Americans vote to determine control of Congress, with all 435 House seats and 35 Senate seats contested in the November 3 elections.

News.Az