Americans distrust crypto and AI at a time when industry super PACs are spending tens of millions of dollars on the 2026 midterm elections. A new Politico poll suggests this skepticism could turn into voter backlash.
The survey, conducted by Public First for Politico between April 11 and 14, 2026, polled 2,035 US adults online. Results were weighted by age, race, gender, geography, and educational attainment. The margin of sampling error is ±2.2 percentage points.
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45% of respondents said investing in cryptocurrency is not worth the risk. 44% said AI is developing too fast. Nearly half trust a traditional bank over a crypto platform. Two-thirds want Congress to impose strict regulations or broad oversight principles on AI.
These numbers spell trouble for candidates backed by industry-aligned super PACs. In hypothetical matchups, voters were far less likely to support candidates backed by groups pushing looser AI regulations. They preferred candidates backed by groups calling for tighter tech rules.
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“Skepticism of the industries, those results suggest, could turn into voter backlash if Americans grow fed up with the heavy spending,” the report said.
Crypto and AI super PACs spend big on 2026 midterms
Pro-AI super PAC Leading the Future launched in August 2025. It has raised more than $75 million. The group deployed funds in primaries across North Carolina, Texas, Illinois, and New York.
Fairshake, the pro-crypto PAC backed by Coinbase, Andreessen Horowitz, and Ripple Labs, has already spent $28 million across competitive primaries. In 2024, a Fairshake-affiliated PAC spent over $40 million helping defeat Ohio Senator Sherrod Brown, a longtime crypto critic who is now running again.
Both industries are also spending heavily on lobbyists. OpenAI and Anthropic posted record lobbying expenditures in the first quarter of 2026. The crypto industry is pushing the CLARITY Act through the Senate. This market structure bill aims to bring regulatory certainty to digital assets.
Industry watchers note that these spending levels are exceptional for midterm elections. The implication is that crypto and AI companies are trying to shape the regulatory environment before new laws are passed.
Most voters don’t know these PACs exist
For now, most voters remain unaware of these groups. Just 9% have heard of Leading the Future. Only 3% recognize Fairshake.
However, political observers told Politico that once voters connect the money to the industries behind it, the backlash could be swift. “I do think if they see somebody is backed by crypto, that’s always going to be a problem,” former Ohio Rep. Jim Renacci reportedly said.
This suggests a disconnect between campaign spending and public opinion. The data shows that Americans distrust crypto and AI. Yet super PACs continue to pour money into races. The question is whether voters will punish candidates who accept that money.
What the poll numbers mean for candidates
The poll tested hypothetical matchups. Voters were presented with candidates supported by different groups. Those backed by groups advocating for stricter AI rules won by significant margins.
For crypto, the numbers are even starker. 45% of Americans see crypto investments as too risky. Only 12% said they were worth the risk. The rest were unsure.
Trust in traditional banks remains strong. 48% said they trust a bank more than a crypto platform. Only 8% trust crypto more. This gap could influence how voters view candidates with ties to the crypto industry.
Regulatory battles intensify
The CLARITY Act is moving through the Senate. It would create a federal framework for digital assets. Crypto advocates say it provides needed clarity. Critics argue it weakens investor protections.
On AI, two-thirds of Americans want Congress to act. They support either strict regulations or broad oversight principles. This creates pressure on lawmakers to pass AI legislation before the midterms.
Data from the poll shows bipartisan concern. 68% of Republicans and 72% of Democrats support stricter AI rules. This rare consensus could push Congress to act quickly.
Historical context of industry spending
The 2024 election cycle saw record spending by crypto PACs. Fairshake and its affiliates spent over $130 million. That was more than any other industry-aligned group. The 2026 cycle is on track to surpass that.
Pro-AI spending is newer. Leading the Future launched in 2025. It has already raised $75 million. OpenAI and Anthropic are also increasing their lobbying budgets. This suggests AI companies expect major regulatory decisions soon.
What this means for investors is that regulatory risk remains high. Public distrust could lead to stricter laws than the industry wants. That would affect crypto prices and AI company valuations.
Voter backlash could reshape the midterms
The poll suggests that Americans distrust crypto and AI enough to change their votes. If that holds true, candidates backed by these industries could face headwinds.
But the outcome depends on voter awareness. Right now, most people don’t know about the spending. Campaign ads and news coverage could change that. If voters learn that a candidate is funded by crypto or AI PACs, they might vote against them.
Industry watchers note that this dynamic is unusual. Typically, campaign spending helps candidates. But in this case, the source of the money could be a liability.
Conclusion
Americans distrust crypto and AI, and that distrust is shaping the 2026 midterm elections. Super PACs are spending heavily, but voters are skeptical. The poll from Politico and Public First shows that candidates backed by these industries could face backlash. The outcome will depend on whether voters connect the money to the industries behind it. For now, the data suggests a potential shift in political dynamics.
FAQs
Q1: Why do Americans distrust crypto?
A: The poll found 45% of Americans think investing in crypto is not worth the risk. Concerns include volatility, lack of regulation, and fraud.
Q2: How much are crypto and AI super PACs spending on the 2026 midterms?
A: Leading the Future has raised over $75 million. Fairshake has spent $28 million so far. Both are also increasing lobbying budgets.
Q3: What is the CLARITY Act?
A: It is a Senate bill that would create a federal regulatory framework for digital assets. Crypto industry groups are pushing for its passage.
Q4: Could voter backlash affect the midterm results?
A: Yes, the poll suggests voters are less likely to support candidates backed by pro-crypto or pro-AI groups. If voters connect the spending to these industries, backlash could be significant.
Q5: How many voters know about these super PACs?
A: Very few. Only 9% have heard of Leading the Future and 3% recognize Fairshake. This could change as the election approaches.
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