Crypto PACs Ramp Up Spending for 2026 Midterm Elections

Affiliates Fairshake operates as a nonpartisan PAC but maintains partisan affiliates: Defend American Jobs for Republicans and Protect Progress for Democrats. In 2024, Defend American Jobs spent $40 million supporting Moreno, while Protect Progress backed Democrats Elissa Slotkin in Michigan and Ruben Gallego in Arizona with over $10 million each.

The PACs focus on advertising that rarely mentions crypto directly, instead highlighting other issues to elect favorable candidates. Political science professor Michael Franz noted that such groups prioritize electing allies over promoting their agenda explicitly.

“It's not really about promoting their agenda … it's really just about electing candidates." — Michael Franz, professor of political science at Bowdoin College (The Dispatch). In early 2026, Fairshake affiliates spent in Illinois against Juliana Stratton, who supported state digital asset regulations as lieutenant governor under Gov. JB Pritzker. The group deployed $10.3 million opposing her in the Democratic Senate primary.”

Republican-Focused PACs New PACs are shifting toward partisan support for Republicans. A new PAC founded by the Winklevoss brothers of Gemini in July 2025 was seeded with bitcoin valued at $21 million. It aims to back candidates aligned with President Trump's crypto agenda and pays consulting fees to Advancing Strategies, operated by former Trump campaign manager Chris LaCivita.

Another PAC, closely linked to Tether, has spent several million dollars on advertising. It has spent in races.

and Legislative Context Fairshake

holds about $170 million for deployment, likely increasing in the lead-up to November. The industry seeks advancement of market structure legislation, which remains in Senate committees. Political science professor Robert Boatright explained that PAC spending signals to incumbents the risks of opposing industry priorities.

With a crypto-friendly administration, the sector has achieved some wins but continues pushing for broader reforms.

supported candidates in 2024 House races, including Shomari Figures and Don Davis, though with mixed results. In 2025 special elections, they backed Randy Fine, Jimmy Patronis, and James Walkinshaw. Early 2026 spending included support for Barry Moore in Alabama, Christian Menefee in Texas, and Jasmine Clark in Georgia.

If market structure legislation fails, opponents may face opposition spending; passage could shift focus to tax modernization. The fracturing of crypto political efforts, with new PACs focusing on Republicans, contrasts Fairshake's bipartisan approach.

Total spending could mirror or exceed 2024 levels as primaries continue.