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Crypto and dark money
Spending on the 2026 U.S. midterm elections reached nearly $11.9 billion, while independent groups spent $3.9 billion—an 85% increase compared with the 2022 elections. Major donors poured in $2.4 billion, while the cryptocurrency sector spent $176 million, and a committee linked to the artificial intelligence industry raised more than $125 million. Elon Musk topped the list of individual donors, giving more than $445 million. The spending reflects efforts by technology industries and wealthy individuals to influence upcoming legislation, amid concerns over undisclosed sources of funding and the growing influence of political money.
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