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AI and crypto spending in elections
The midterm elections for the U.S. Congress witnessed a record-breaking spending of $517 million by corporations and billionaires, surpassing the previous record of $461 million set in 2024. These expenditures were primarily concentrated in the technology, cryptocurrency, sports betting, and nonprofit sectors, aiming to support candidates aligned with these industries and influence legislative policies. Specifically, groups linked to OpenAI and Anthropic poured tens of millions of dollars into their campaigns, while the Ferschick Committee and its supporters invested $193 million. The total spending on election advertisements is expected to reach $11.6 billion—a new record—reflecting the growing financial influence of these sectors in American politics.
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