Crypto PACs spent millions supporting candidates in key Maryland and New York primaries ahead of critical legislative debates.
Senate negotiations on the CLARITY Act continue, focusing on market structure, ethics provisions, and illicit finance rules.
Industry groups intensified lobbying efforts as lawmakers face a narrowing window before the July recess begins.
Crypto-backed political groups are ramping up spending in key U.S. primary races as lawmakers race to advance the CLARITY Act before Congress leaves Washington this week. On Tuesday, major Democratic primaries in Maryland and New York coincided with renewed lobbying efforts on Capitol Hill, where senators and industry advocates continued negotiations on digital asset legislation ahead of the July 4 recess.
Crypto PACs Increase Spending In Key Primaries
As legislative discussions continue, crypto political action committees have expanded their presence in congressional races. Protect Progress, an affiliate of Fairshake, has spent about $5.5 million supporting Maryland State Delegate Adrian Boafo in Maryland’s 5th Congressional District.
Boafo is seeking to replace retiring Congressman Steny Hoyer. Notably, he faces more than 20 Democratic candidates in the primary race. He has also secured endorsements from Hoyer, Maryland Governor Wes Moore, and Senator Angela Alsobrooks.
According to campaign statements, Boafo supports policies tied to blockchain and digital asset innovation. Meanwhile, prediction market data has placed him among the leading candidates in the contest.
Attention has also shifted to New York’s 15th Congressional District. There, Protect Progress allocated roughly $1.5 million to support Representative Ritchie Torres. Additionally, Fellowship PAC spent about $300,000 on advertisements backing Torres ahead of Tuesday’s primary.
Earlier in the election cycle, Fairshake spent approximately $12 million in Alabama’s Republican Senate primary runoff supporting Representative Barry Moore.
Senate Negotiations Continue On CLARITY Act
While primary races attract attention, lawmakers continue work on the CLARITY Act. Member meetings and staff-level negotiations remain focused on committee language, ethics provisions, and illicit finance measures.
According to Crypto In America, senators hope to resolve outstanding issues before Congress begins its two-week recess on Thursday. Discussions are expected to continue throughout the week.
At the same time, industry groups have increased their advocacy efforts. The Digital Chamber scheduled meetings between members and lawmakers to support passage of the legislation.
Lobbying Efforts Expand Ahead Of Recess
More than 50 Digital Chamber members planned meetings with Senate offices on Tuesday. The organization also arranged a separate tax-focused fly-in with House offices on Wednesday.
According to Digital Chamber CEO Cody Carbone, urgency has increased as the legislative calendar narrows. Carbone said the organization remains focused on advancing market structure legislation this year.
Meanwhile, gaming industry groups have lobbied senators to add provisions affecting prediction market platforms such as Kalshi and Polymarket. However, sources close to negotiations indicated those proposals currently face limited momentum as lawmakers prioritize other unresolved sections of the CLARITY Act.
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