American voters turn to prediction markets as crypto lobby takes over 2026 midterms
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Tracking data from Follow The Crypto shows that the cryptocurrency industry has spent $271 million on causes expected to improve the odds of candidates that align with the sector’s interests ahead of the 2026 midterm elections. With the elections slated for later this year coming up fast, a Paradign study found that 36% of American voters now use prediction markets to trade on outcomes or browse for information, with about 35% of voters believing that prediction markets should be legal. Why is crypto money flooding the 2026 midterm races? The scale of intervention by the cryptocurrency industry in politics has reached historic levels during the 2026 midterm elections. Tracking data from Follow the Crypto shows that industry-linked groups have spent more than $271 million to influence this cycle. Crypto-focused super PACs, such as Fairshake and the Digital Freedom Fund, now rank among the most well-funded political committees in the United States. These groups are currently holding $221 million on hand, with another $100 million reportedly committed by major industry players. In preparation for the March 17, 2026, Democratic primary in Illinois, crypto PACs have spent nearly $10 million to oppose Juliana Stratton for the Senate. Similarly, they have poured over $2.4 million into opposing La Shawn Ford for Illinois’ 7th House District. Meanwhile, Barry Moore in Alabama has received over $5 million in support for his Senate run, while Christian Menefee in Texas has seen over $1.5 million in backing for his House race. In Florida, Randy Fine won a special election for the State House after receiving $1.6 million in crypto-linked support. Are prediction markets replacing traditional polling for voters? Crypto interests have gone from the fringes of American politics to becoming a key manifesto item, highlighting how the electoral landscape has evolved since 2024. To that effect, a…
Filed under: News - @ March 14, 2026 6:36 pm