Corporate political donations hit record $646M in US midterms, watchdog says
Corporate political donations shatter record at $646M so far for US midterms
Companies donated a record $646 million to U.S. political campaigns in the 18 months through June, 40% more than the entire 2024 presidential cycle, according to Public Citizen. Crypto, online betting, and AI firms account for over half, with sports betting alone contributing $76 million. The surge is driven by new entrants like DraftKings and Polymarket, while Koch Inc. and cannabis companies also gave heavily. Watchdogs warn of disproportionate influence, but free speech advocates defend the spending.
The rate at which corporate money is rushing into our elections should be a flashing warning sign.