AI, Cryptocurrency, and Trump-Backed Super PACs Amass Millions Ahead of 2026 Midterm Elections
As the 2026 midterm elections approach, political action committees (PACs) tied to the cryptocurrency and artificial intelligence (AI) industries, alongside major pro-Trump groups, have accumulated tens to hundreds of millions of dollars to influence key races across the country. Recent Federal Election Commission filings reveal that these organizations are positioning themselves to significantly impact both primary and general elections, potentially shaping policy debates on Capitol Hill.
Crypto and AI Groups Grow Financial Firepower
Pro-cryptocurrency groups concluded 2025 with nearly $194 million available to deploy, predominantly held by Fairshake—a PAC supported by Coinbase and various venture capital firms. These figures follow a powerful showing in the 2024 elections, where pro-crypto affiliates such as Fairshake, Defend American Jobs, and Protect Progress collectively spent close to $290 million. Their campaign efforts notably targeted races including the Ohio Senate contest, where they backed Republican Bernie Moreno against Democrat Sherrod Brown, opposed Katie Porter’s Senate bid in California, and supported Democrats Ruben Gallego of Arizona and Elissa Slotkin of Michigan in their successful Senate campaigns.
Parallel to the crypto surge, the AI-focused PAC, Leading the Future, entered the political fray with $39 million on hand by year-end. Founded recently, the group garnered over $50 million in donations from mid-August to December 31, including large contributions of $12.5 million each from OpenAI co-founder Greg Brockman and his wife Anna, as well as venture capitalists Marc Andreessen and Ben Horowitz. The super PAC has drawn attention—and some frustration—from White House officials because of its bipartisan approach and its donor base, which includes some Trump allies.
Leading the Future has announced plans to intervene in two pivotal primary races for open House seats. The group is opposing New York state Assemblyman Alex Bores, known for sponsoring AI safety legislation, in a district formerly represented by Democratic Congressman Jerry Nadler. Simultaneously, it is supporting attorney Chris Gober’s candidacy in a deep-red Texas district vacated by retiring Republican Michael McCaul.
MAGA Inc. Maintains Massive War Chest
On the Republican side, MAGA Inc., the primary super PAC aligned with former President Donald Trump, remains a dominant political force heading into the midterms. The group entered 2026 with a formidable $304 million in reserves. Throughout the second half of 2025, MAGA Inc. raised over $112 million, fueled by large contributions from donors with business interests before the administration and those with family members facing legal challenges.
Although Trump himself is not eligible for the presidency in 2026, and he is not on the ballot, the financial strength of MAGA Inc. ensures his continued influence over the Republican Party. Complementing MAGA Inc.’s fundraising efforts, tech billionaire Elon Musk has donated millions to traditional Republican super PACs, seemingly revitalizing his political relationship with Trump after a period of estrangement. In December 2025, Musk contributed $5 million each to the Senate Leadership Fund and the Congressional Leadership Fund, the GOP’s principal Senate and House super PACs, respectively. Musk also donated nearly $3 million, including in-kind contributions, to his own America PAC, which primarily supports Trump-aligned candidates.
The Senate Leadership Fund raised nearly $77 million in the latter half of 2025, ending the year with $100 million on hand, while the Congressional Leadership Fund took in more than $38 million during that period and closed with $54.5 million in cash reserves.
Democratic Fundraising and Challenges
Democratic outside groups have also demonstrated substantial fundraising prowess. House Majority PAC, tasked with aiding Democrats in retaking the House, raised over $48 million in the latter half of 2025 and concluded the year with $46 million available. Senate Majority PAC has yet to publicly report its recent fundraising figures.
In addition, the United Democracy Project—a pro-Israel group affiliated with the American Israel Public Affairs Committee (AIPAC)—raised more than $61 million between July and December, closing 2025 with nearly $96 million. The group engages in primaries on both sides of the aisle but predominantly influences Democratic contests. It is already active in the upcoming special election in New Jersey’s 11th Congressional District, opposing former Democratic Rep. Tom Malinowski. Despite its Democratic focus, the United Democracy Project’s funding includes a notable $30 million donation from AIPAC and substantial contributions from GOP megadonor Paul Singer, a fact that has raised concerns within Democratic circles regarding cross-party influence.
Democratic candidates also face new challenges within their own ranks. The progressive group Leaders We Deserve, led by activist David Hogg, is targeting incumbent Democrats in secure districts perceived as insufficiently responsive, with plans to back younger candidates. Having raised nearly $7.8 million in 2025, the group closed the year with about $2.3 million in its account to support its $20 million campaign.
Looking Ahead
With control of both the Republican-led House and Senate at stake in 2026, the financial and strategic moves by cryptocurrency, AI, and major political super PACs underscore the increasing role that industry interests and influential donors play in shaping U.S. elections. Their ability to inject significant funds into key races highlights their intent to sway legislative priorities on cutting-edge issues like technology regulation and economic policy, making the upcoming midterms a critical battleground for political power and policy direction.
Authors: Bridget Bowman and Ben Kamisar
Published: January 31, 2026
Source: NBC News