Crypto, AI PACs Pour Millions Into 2026 Midterms Amid Voter Distrust

Crypto and AI super PACs are funneling massive sums into the 2026 U.S. midterm elections, but a new poll highlights a glaring obstacle: most Americans don’t trust either industry. According to an April survey by Public First for Politico, 45% of respondents believe cryptocurrency investments aren’t worth the risk, while 44% think artificial intelligence is advancing too quickly.

The poll, conducted with 2,035 U.S. adults, also revealed that nearly half of Americans trust traditional banks over crypto platforms, and two-thirds want Congress to impose stricter regulations on AI. These findings raise questions about whether candidates supported by industry-aligned super PACs could face voter backlash.

Millions Flowing Into Races

Pro-AI and pro-crypto super PACs are spending aggressively to influence key races. Leading the Future, a pro-AI PAC launched in August 2025, has already raised over $75 million, targeting primaries in states like Texas, Illinois, and New York. Meanwhile, Fairshake, a crypto PAC backed by Coinbase, Andreessen Horowitz, and Ripple Labs, has shelled out $28 million this cycle alone, following its $40 million effort in 2024 to oust Ohio Senator Sherrod Brown, a noted crypto critic.

The spending spree isn’t limited to elections. Both industries are deploying record amounts on lobbying efforts. OpenAI and Anthropic posted unprecedented lobbying budgets in Q1 2026, while Fairshake is pushing for the CLARITY Act, a proposed bill designed to bring regulatory certainty to crypto markets. For the crypto community, this legislation could define whether the U.S. remains a hub for digital assets or falls behind more crypto-friendly jurisdictions.

Voters Unaware of PAC Influence

Interestingly, public awareness of these PACs remains low. Only 9% of respondents have heard of Leading the Future, and a mere 3% recognize Fairshake, according to the survey. Political analysts warn that if voters connect these PACs to industries they distrust, the backlash could intensify. Former Ohio Rep. Jim Renacci noted, “If they see somebody is backed by crypto, that’s always going to be a problem.”

This lack of trust reflects broader sentiment trends. While public opinion on crypto remains cautiously optimistic—many Americans expect its value to rise—concerns about volatile prices, cybersecurity risks, and insufficient government oversight persist. In contrast, AI faces growing skepticism, particularly around job displacement and rapid advancements. Younger demographics view AI as risky, aligning with the survey’s findings.

Potential Fallout

The heavy spending by crypto and AI PACs underscores the industries’ desire to shape U.S. regulatory frameworks, but it’s a risky bet. Public distrust could translate into voter rejection of candidates who appear too cozy with these sectors. Moreover, the industries face mounting regulatory scrutiny. AI’s rapid development has drawn calls for tighter oversight, while the crypto sector remains embroiled in debates over how to define and regulate digital assets.

As the midterm campaigns gain momentum, the stakes are high for both industries. Pro-crypto and pro-AI groups are betting that political influence will pave the way for friendlier regulations. But with voter skepticism rising, this strategy could backfire, leaving the industries to reckon with both political and public opposition.

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