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Corporate America pours a record $646 million into US midterms, already beating 2024 presidential spending by 40 per cent

Crypto, gambling and AI firms alone contributed over $344 million — more than half the $646 million raised — as corporations battle to shape control of Congress in this year's midterms.
Crypto, gambling and AI firms alone contributed over $344 million — more than half the $646 million raised — as corporations battle to shape control of Congress in this year's midterms.

Corporate spending on US political campaigns hit a record $646 million over the 18 months to June — already 40 per cent above what companies spent across the entire 2024 presidential election cycle, with the November midterms still to come. Crypto, online gambling and AI firms alone contributed more than $344 million, accounting for over half the total. Watchdog group Public Citizen warns the true figure is considerably higher, as dark money, state-level expenditure and donations from corporate executives are excluded from the count.

Koch Inc. pumped $20 million into the Americans for Prosperity Action PAC in June alone.

Reynolds American gave $5 million to Trump's MAGA Inc. super PAC, while six cannabis firms added $11.5 million to a PAC sharing a treasurer with MAGA Inc.

'The rate at which corporate money is rushing into our elections should be a flashing warning sign,' said Public Citizen research director Rick Claypool.

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