Crypto and AI industries are dumping money into midterm elections through super PACs, but a Politico poll reveals the strategy faces a major problem: most Americans don't trust either sector.
The finding creates real tension for candidates banking on industry funding. Voters already skeptical of crypto's legitimacy and AI's safety implications could punish politicians seen as captured by these interests. That's especially dangerous in tight races where sentiment matters.
The crypto industry learned to play political hardball after years of regulatory pressure from the SEC and other agencies. Super PACs became the obvious tool to amplify influence. But polling data shows this spending may not translate to voter approval. Americans view crypto with suspicion around scams, market manipulation, and lack of consumer protection. AI carries similar baggage: concerns about job displacement, bias, and unchecked corporate power.
This exposes a gap between where money flows and where public opinion sits. A candidate can raise millions from crypto PACs and still face local voters who associate the industry with FTX, Terra, and exchange collapses. The halo effect doesn't apply here.
The midterms will test whether industry funding can overcome voter distrust or whether the disconnect costs candidates real votes. Either way, the crypto lobby's political bet faces headwinds no amount of spending easily fixes.