Crypto leaders and Silicon Valley giants have boosted Fairshake’s funding for the 2026 US midterm elections even as the country prepares to elect its next president.
According to CNBC, cryptocurrency super PAC Fairshake has raised $78 million from blockchain advocates and corporations to lobby for the 2026 midterms.
The U.S. midterm elections, held in the second year of a president’s term, will decide many congressional seats and potentially favor digital asset regulation. Coinbase and Andreessen Horowitz are among the backers funding cryptocurrency advocates in Congress.
Coinbase, the largest centralized cryptocurrency exchange in the United States, pledged to donate $25 million. crypto.news previously reported that a16z crypto invested $23 million in Fairshake, as announced by managing partner Chris Dixon.
Crypto industry companies and blockchain-friendly companies have donated a total of $170 million to Fairshake, a super PAC founded by more than a dozen companies. Fairshake’s figures, along with other cryptocurrency-linked PACs, accounted for nearly 50% of corporate donations for the 2024 general election.
A16z, Coinbase, Jump Crypto, and Ripple have contributed most of Fairshake’s $170 million cryptocurrency lobbying fund this cycle. Fairshake has spent about $135 million targeting lawmakers and state policymakers.
A long-term cryptocurrency lobbying commitment surfaced just hours before the final vote between Republican Donald Trump and Democratic presidential candidates Kamala Harris. On prediction platforms such as Polymarket, Trump’s probability of winning was 57.9%, higher than Kamala’s 42.3%. But national opinion polls suggested fierce competition among rivals.
The presidential election results may be announced on November 5. However, if the vote counting is prolonged, there may be delays. Polymarket’s presidential contract volume surpasses $3.1 billion as traders take downtime bets.
The largest presidential election prediction market will be resolved when the Associated Press, Fox and CNBC all declare a single winner. Otherwise, Polymarket’s betting pools will remain open until the January opening.