Republican megadonors dominate 2026 midterm election as crypto and AI money surges, CNBC analysis finds

The biggest donors in the 2026 midterm election are breaking decisively toward Republican candidates and causes, a CNBC analysis of Federal Election Commission records found. Fourteen of the 20 largest donors and donor groups this election cycle have exclusively or nearly exclusively backed GOP candidates or aligned groups, according to a CNBC analysis of federal campaign-finance records. Together, the 20 account for $1.2 billion, or about an eighth of the roughly $9.8 billion raised this election cycle through Sept. 25 across the campaigns and super PACs CNBC examined. CNBC analyzed FEC records for contributions reported during the 2026 election cycle, covering Jan.