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Crypto, Gambling and AI Companies Drive Record Spending on U.S. Congressional Races

HeadlineAug 21, 2026

In more election news, Reuters reports a handful of billionaires and companies are driving record levels of spending on congressional contests ahead of November’s midterm elections, with crypto, gambling and artificial intelligence firms fueling a flood of campaign cash. So far, U.S. corporations have spent over a half a billion dollars on U.S. House and Senate races. That already exceeds the previous record of $461 million spent by corporations during the entire 2024 election cycle, and does not include millions of dollars in additional contributions made by “dark money” groups that hide the identities of their donors.

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