Crypto PAC money pours into Texas primary runoffs, as prediction markets favor challengers
The crypto-aligned Protect Progress PAC reported spending another $750,000 on media for a Democratic candidate over Representative Al Green, whom it described as “actively hostile” to digital assets.
Two Texas Congressional candidates supported by millions of dollars in spending from interest groups aligned with the cryptocurrency industry are headed for runoffs this week in races for the US Senate and House of Representatives.
On Tuesday, Democratic voters in Texas’ 18th congressional district will decide between incumbent Al Green and challenger Christian Menefee to run in November’s general election. Statewide, voters will choose between Texas Attorney General Ken Paxton and incumbent John Cornyn for the Republican primary for US Senate.
Both Tuesday races are runoffs after none of the candidates failed to secure a majority in Texas’ March primaries. The crypto industry, through spending on media by political action committees (PACs), has stakes in both races, which could influence policy and the makeup of Congress going into 2027.