Market desk Bitcoin Ethereum Altcoins DeFi Stablecoins Markets & Trading

AI Industry Spending $300M on Midterm Elections, Sanders Warns

Senator Bernie Sanders says artificial intelligence companies plan to spend over $300 million this election cycle, with funds flowing to both sides of the AI regulation debate. The spending has sparked concerns about industry influence on congressional policy.
6 hours ago 21 views
AI Industry Spending $300M on Midterm Elections, Sanders Warns

Senator Bernie Sanders warned that the artificial intelligence industry plans to spend more than $300 million during the current election cycle, with the funds supporting competing visions for how Congress should regulate AI.

Sanders called for a ban on super PACs, arguing that AI-linked spending allows the industry to shape legislative outcomes rather than Congress setting policy for the sector.

Competing AI Funding Coalitions

Multiple AI-focused groups have raised or pledged hundreds of millions of dollars ahead of November's elections. Leading the Future and associated organizations raised over $140 million, with initial contributors including OpenAI President Greg Brockman and venture capital firm Andreessen Horowitz. Trump-aligned Innovation Council Action pledged at least $100 million, while Public First Action, which backs stronger AI safeguards, raised $80 million through June. Anthropic contributed $20 million designated for public education on AI policy.

Legislative Priorities

Congress is weighing several AI regulatory proposals. Senator Sanders and Representative Greg Casar introduced the Ban Artificial Superintelligence Act, which would prohibit superintelligent AI and halt advanced development until safety standards are established. Representative Ted Lieu and Representative Nathaniel Moran introduced the AI Kill Switch Act in July, requiring top AI developers to maintain the ability to shut down their most powerful systems.

Campaign Spending Patterns

The AI groups deployed money across both parties through separate Democratic and Republican affiliates. In New York's 12th District, Think Big, Leading the Future's Democratic arm, spent $8.17 million opposing Assemblymember Alex Bores, while Public First's Jobs and Democracy PAC spent $15.03 million supporting him. Bores lost the Democratic primary. Both groups' Republican arms supported Kevin Hern, Oklahoma's Republican Senate nominee.

The spending pattern mirrors the bipartisan approach used by Fairshake, a crypto-focused super PAC, during the 2024 cycle. Fairshake is currently spending $30 million on ads against Senator Sherrod Brown.

Voter Skepticism

The AI groups face significant headwinds from voter sentiment. Polling found respondents less likely to back candidates supported by groups pushing looser AI regulations, raising the possibility of public backlash against industry-backed candidates as the election approaches.

Market snapshot

Top cryptocurrency prices

Explore all prices
BitcoinBTC $84,492.91+0.68% EthereumETH $2,708.75-0.38% Tether USDUSDT $0.9997-0.06% BNBBNB $770.78+1.08% XRPXRP $1.52-1.71% USDCUSDC $1.00-0.02% SolanaSOL $120.99+0.39% TRONTRX $0.3398+1.38% HyperliquidHYPE $86.32-1.44% ZcashZEC $1,479.65+2.64%
Prices by Coinranking. Informational only.