Record $646M Corporate Donations in 2026 Midterms

Public Citizen’s analysis shows corporate political donations reached a record 646 million dollars in the 18 months through June, with crypto, online gambling, and artificial intelligence firms accounting for more than half of that total as control of Congress remains at stake. Sports betting operators, including DraftKings, FanDuel, Fanatics, and bet365, emerged as major funders, contributing about 29 million in the second quarter to pro-industry committees, and crypto and AI interests helped drive the surge. The figure does not include dark money or some state and local spending, suggesting the true level of corporate influence is even higher. The campaign-finance surge continues into 2026, with spending in the first quarter already topping the entire 2024 cycle and driven by crypto, AI, and online-gambling companies seeking favorable regulation and shaping policy before rules take hold. Donors beyond the tech and betting sectors, such as Koch Industries, Reynolds American, cannabis firms, and notable crypto backers, also contributed to PACs and affiliated groups, illustrating a broad cross-section of corporate interests mobilizing in this cycle. The evolving financing networks—through layered PACs and dark-money nonprofits—highlight how corporations are using a mix of direct contributions and independent groups to influence elections as policymakers weigh new regulations.