AI, Cryptocurrency, and Trump Super PACs Stash Millions Ahead of 2026 Midterms
As the 2026 midterm elections approach, major political groups tied to emerging technologies and influential political figures have amassed substantial war chests, signaling a highly competitive electoral season. Notably, super PACs associated with the cryptocurrency and artificial intelligence (AI) industries, alongside former President Donald Trump’s MAGA Inc., have collectively secured hundreds of millions of dollars to influence primaries and general elections across the United States.
Crypto and AI Groups Flex Political Muscle
Campaign finance reports filed with the Federal Election Commission reveal that pro-cryptocurrency organizations ended 2025 with nearly $194 million available for spending. The largest among them, Fairshake, is supported by Coinbase and venture capitalists, and represents the core of the pro-crypto political movement. This is a continuation of their substantial influence last cycle, when Fairshake, along with allied groups Defend American Jobs and Protect Progress, poured approximately $290 million into the 2024 elections. These groups played a decisive role in key races, including efforts to oust Democratic Senator Sherrod Brown in Ohio and support Democratic senators Ruben Gallego from Arizona and Elissa Slotkin from Michigan.
In parallel, the AI sector is emerging as a potent political force. The newly formed super PAC, Leading the Future, ended 2025 with $39 million in its campaign account after raising over $50 million in less than five months. Major donors include OpenAI co-founder Greg Brockman and his wife, as well as prominent venture capitalists Marc Andreessen and Benjamin Horowitz. Leading the Future plans to significantly impact the 2026 election cycle, already entering two House primaries: opposing Assemblyman Alex Bores in New York’s 10th Congressional District and backing attorney Chris Gober in a Texas district considered a Republican stronghold.
Despite its cross-party funding strategy, Leading the Future has caused some unease within the White House, particularly because some donors are allies of Donald Trump, while the group remains open to supporting candidates from both parties.
Trump’s MAGA Inc. Sits on a Massive Fundraising Pot
Meanwhile, MAGA Inc., the super PAC tied closely to former President Donald Trump, remains one of the most formidable players ahead of the midterms. Ending 2025 with $304 million in its account, its fundraising largely comprised donations from individuals with business ties to the administration or those facing legal challenges. Though Trump himself is not eligible to run for president again in 2026, and will not be on the ballot, MAGA Inc.’s significant financial resources will help maintain Trump’s considerable influence over the Republican Party.
Other Influential Republican Donors: Elon Musk
Tech billionaire Elon Musk has also been an active donor in Republican politics. Once a close Trump ally who had a public fallout with the former president and even considered launching a third party, Musk appears to have reconciled with Trump in recent months. In late 2025, Musk donated $5 million each to the Senate Leadership Fund and the Congressional Leadership Fund, the top super PACs aligned with Senate and House GOP leadership respectively. Musk also donated nearly $3 million, including in-kind contributions, to America PAC, his own political group that previously spent heavily to support Trump candidates.
Both the Senate Leadership Fund and Congressional Leadership Fund boast considerable war chests heading into 2026, with $100 million and $54.5 million on hand, respectively.
Democratic and Other Political Group Finances
On the Democratic side, House Majority PAC, tasked with helping Democrats regain House control, raised over $48 million in the second half of 2025 and ended the year with $46 million available. The Senate Majority PAC had not yet filed its latest report by the end of January 2026. A significant player with cross-party influence is United Democracy Project, a pro-Israel super PAC aligned with AIPAC. It raised more than $61 million in the latter half of 2025 and ended the year with nearly $96 million banked. The group intervenes in both Republican and Democratic primaries but primarily targets Democratic contests. It is currently active in the New Jersey 11th Congressional District special election, where it is opposing former Democratic Rep. Tom Malinowski. While funded largely by AIPAC, United Democracy Project also receives donations from GOP megadonor Paul Singer, a fact that has sparked controversy among Democrats.
Primary Challenges Within the Democratic Party
Democratic lawmakers face increased primary challenges this cycle, driven by intraparty generational and ideological divides. Leaders We Deserve, a progressive group led by activist David Hogg, has pledged a $20 million effort focused on replacing long-standing Democratic incumbents in deep-blue districts with younger candidates. The group raised over $7.8 million in 2025 and retained about $2.3 million entering 2026. —
As the 2026 midterms draw nearer, the infusion of tens to hundreds of millions from these political action committees and super PACs tied to high-profile industries and political figures highlights the evolving landscape of American electoral politics. Their spending power will likely play a pivotal role in shaping not only who holds office but also the policy priorities debated in Washington.
By Bridget Bowman and Ben Kamisar, NBC News