Key Highlights
- Crypto PACs invested millions in Maryland and New York Democratic primaries.
- Protect Progress spent about $5.5M supporting Adrian Boafo in Maryland.
- Rep. Ritchie Torres received major backing from crypto-aligned PACs in New York.
Crypto industry political action committees are injecting millions into key Democratic primaries this week, highlighting the sector’s push to shape congressional leadership amid high-stakes negotiations on the CLARITY Act.
According to a Crypto in America report, with primaries scheduled for Tuesday in Maryland and New York, pro-crypto groups like Protect Progress (an affiliate of the influential Fairshake network) are actively participating. In Maryland’s 5th Congressional District, Protect Progress has spent roughly $5.5 million supporting State Delegate Adrian Boafo’s bid to succeed retiring Rep. Steny Hoyer (D-MD).
Boafo gets major endorsement
The Blockchain Leadership Fund, backed by firms including Anchorage Digital and Chainlink, has also endorsed Boafo. Facing 22 other Democratic candidates, Boafo enters the primary as a strong contender, with prediction markets like Kalshi and Polymarket assigning him around an 80% chance of victory. He has received endorsements from Hoyer, Maryland Gov. Wes Moore, and Sen. Angela Alsobrooks (D-MD).
Boafo, who previously managed Hoyer’s campaign, has positioned himself as a pro-crypto advocate. As a state legislator, he introduced measures for regulatory clarity on digital assets and blockchain. “I’m proud to be a strong advocate for policies that create new economic opportunities for Marylanders in the 5th Congressional District, and digital assets are no exception,” he said.
However, the heavy outside spending has drawn criticism. Multiple Democratic candidates, including former Capitol Police officer Harry Dunn, businesswoman Quincy Bareebe, and former Prince George’s County Executive Rushern Baker, have criticized the influx of funds from crypto PACs and pro-Israel groups such as AIPAC’s United Democracy Project.
Ritchie Torres draws more crypto-backed support in New York
Reports indicate Boafo has benefited from nearly $9–11 million in combined outside spending, prompting accusations of special interests attempting to “buy” the seat. Sen. Chris Van Hollen (D-MD) has also voiced concerns.
In New York’s 15th Congressional District, Protect Progress has spent about $1.5 million in support of Rep. Ritchie Torres, a vocal crypto proponent and co-founder of the bipartisan Congressional Crypto Caucus alongside Rep. Tom Emmer (R-MN). Fellowship PAC, a crypto-aligned group with ties to Trump supporters, added roughly $300,000 in ads for Torres, who faces minimal opposition from former Assemblyman Michael Blake and others.
These primary interventions come as the crypto industry ramps up its Washington influence. Last week, Fairshake spent around $12 million aiding Rep. Barry Moore (R-AL) in a Senate primary runoff.
Crypto-backed PACs have emerged as some of the largest outside spenders, making this one of several high-profile congressional races in which industry political funding is playing a prominent role during the 2026 election cycle.
CLARITY Act negotiations continue ahead of recess
The primary contests are unfolding as Senate lawmakers continue negotiations over the Digital Asset Market CLARITY Act. According to reports, senators and congressional staff are holding discussions on several unresolved provisions, including language related to illicit finance, ethics requirements, and sections originating from the Senate Agriculture Committee’s version of the legislation.
Industry organizations are also maintaining pressure on Capitol Hill. The Digital Chamber is scheduled to hold meetings with senators and congressional staff this week, while separate advocacy efforts are expected to focus on cryptocurrency taxation and recent proposals from the House Ways and Means Committee.
Lobbying intensifies as legislative window narrows
Supporters of the legislation have increasingly emphasized the shrinking congressional calendar. Industry groups have argued that advancing the CLARITY Act this year remains a priority as lawmakers face competing legislative demands and the approaching midterm election cycle.
At the same time, other interest groups are seeking changes to the bill. National, tribal, and state gaming organizations are reportedly lobbying senators to include provisions that would restrict sports-event betting through prediction market platforms such as Kalshi and Polymarket.
However, individuals familiar with ongoing discussions reportedly expect lawmakers to focus primarily on unresolved market structure issues as they work toward a possible Senate vote after the congressional recess.
Election results could shape future crypto legislation
The Maryland and New York primaries are being closely watched by the digital asset industry because they could influence the makeup of a Congress that is increasingly involved in cryptocurrency regulation.
With stablecoin legislation advancing and the CLARITY Act still under negotiation, crypto-focused political organizations appear determined to support candidates viewed as receptive to blockchain and digital asset policy proposals ahead of what could be a pivotal period for U.S. crypto legislation.
Also Read: Polymarket Odds Hit 48% Coin Toss for CLARITY Act Passage in 2026
