Crypto-aligned political action committees spent $6 million on primary races in California and Maryland, according to filings disclosed ahead of Tuesday’s primaries. The money backs a slate of candidates friendly to digital assets, with a particular focus on a competitive Maryland race that the industry sees as critical to its midterm agenda.
The Maryland target
Of the $6 million total, a significant chunk went to a key Maryland race — likely a district where a pro-crypto incumbent faces a tough challenge or where an open seat offers a pickup opportunity. The state has emerged as a strategic battleground for the industry, which is trying to build a bloc of supportive lawmakers ahead of any federal crypto legislation. Neither the specific race nor the candidates were named in the filings, but the concentration of spending signals that Maryland is a priority.
California’s share
California’s primary also drew crypto PAC money, spread across several districts. The state has long hosted a mix of tech-friendly incumbents and challengers, and the spending there appears aimed at protecting allies while trying to flip a few seats. California’s June primary is notoriously expensive, so the $6 million overall figure is notable for its size — and for how early it hit.
Midterm strategy
The spending is part of a broader industry push to shape the 2026 midterms. Crypto PACs have been raising money all year, promising to reward friends and punish foes. Tuesday’s primaries are the first real test of that strategy. The groups are betting that pro-crypto candidates will advance to November, where they can help advance favorable legislation on stablecoins, market structure, and tax treatment.
What comes next
The primary winners will head to the general election in November. For the crypto PACs, Tuesday’s results will show whether their money moved votes. If their candidates win, expect more spending in the fall. If they lose, the industry will have to rethink its map. Either way, the $6 million is a down payment on a much larger midterm tab.
