In the same state, Fairshake endorsed incumbent Rep. April McClain Delaney for $516,000, while also contributing advertising spending in other states’ Tuesday primaries to Republican incumbent Rep. Blake Moore of Utah and $1.3 million to one of the industry’s most reliable allies in the House, Rep. Ritchie Torres, a New York Democrat. All also won their races or won, with McClain Delaney in an early lead with votes still being counted.
The most recent Federal Election Commission filings showed Fairshake with about $126 million still on hand at the end of last month. But it’s big spending heading into November’s general election, where the two-year fate of the US Congress will be decided.
If Boafo contributes to the emergence of a new Democratic majority in the House, the crypto industry will have a campaign finance tie with him and other Democrats that the PAC has supported. A Democratic majority is set at 79% odds in betting on prediction market platform Kalshi, and if the party achieves that status, it will hold chairmanships of all committees, complete with control of the chamber’s agenda and subpoena power.
Fairshake’s approach is to flood pro-crypto candidates from both parties with large-scale independent advertising that cannot legally be coordinated with the campaigns. The ads typically do not mention crypto as a political issue, but are instead intended to use the political message that would be most helpful to the candidates.
