Campaign Finance
Crypto- and AI-backed super PACs report more than $321 million raised for the 2026 cycle
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Super PACs tied to the cryptocurrency and artificial intelligence sectors have raised more than $321 million in the 2026 election cycle, according to a review of Federal Election Commission filings, as the groups gear up to shape contests and policy debates in Washington and in key states.
The Electoral Qualifying Tribunal rejected appeals by Macarena Santelices and Enrique Bassaletti on Wednesday, June 17. Both must return funds due to inconsistencies in their 2024 accounts.
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Los Angeles mayoral candidate Spencer Pratt has drawn support from major Democrat donors ahead of the June 2 primary. The former reality star, a registered Republican, reported significant fundraising gains while trailing Mayor Karen Bass in polls.
The Commission on Elections expects to issue a ruling next week on the legality of Senator Francis Escudero's acceptance of campaign donations from a government contractor in 2022. Comelec Chairman George Garcia stated that the commission is reviewing a recommendation on the matter. The decision will precede the resolution of a related complaint against Escudero.
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The 27 government contractors who donated to 2022 election candidates are expected to start giving explanations to the Commission on Elections in the next two weeks. Comelec Chairman George Garcia said summons were sent out on Monday, requiring counter-affidavits. The contractors have 10 days to submit their explanations and reasons why they should not face election offense charges.