US voters head to the polls in midterm elections on Tuesday that could shift control of Congress and shape the future of cryptocurrency regulation.
Crypto industry groups have spent roughly $176 million across more than 100 races this election cycle, according to an Oct. 27 Reuters report.
Coinbase, Ripple and Andreessen Horowitz are among the main financiers of the Fairshake political network.
The results could reshape the prospects for the stalled CLARITY Act and determine which lawmakers lead committees overseeing the industry.
Democrats seek control of Congress
Republicans enter Tuesday’s midterms controlling both chambers of Congress, with 219 seats in the House of Representatives and 53 in the Senate, according to the Blockchain Association’s election dashboard.
Democrats are seeking to overturn those majorities, with prediction markets favoring the party to win the House and Senate, according to Kalshi data at the time of…
