Crypto PAC Spending Shapes Texas Primary Runoffs as Prediction Markets Back Challengers

Crypto backed political spending is playing a visible role in Texas primary runoff elections, with millions of dollars flowing into campaigns as prediction markets increasingly favor challenger candidates in key congressional races.

Crypto PAC Money Targets Texas Congressional Races

Texas voters are set to decide important runoff elections this week, including the Democratic contest in the 18th Congressional District between incumbent Al Green and challenger Christian Menefee, alongside the Republican Senate runoff between Attorney General Ken Paxton and Senator John Cornyn.

Crypto-aligned political action committee Protect Progress, linked to the Fairshake network backed by major digital asset firms, reported spending nearly $5 million supporting Menefee. The group also spent around $2.8 million on advertisements opposing Green, describing the congressman as unfavorable toward digital asset policies.

Menefee additionally secured backing from the Blockchain Leadership Fund, a committee supported by firms connected to blockchain infrastructure and digital finance, although no new spending had been officially disclosed before the vote.

Prediction Markets Favor Menefee and Paxton

Prediction market platforms have shown strong confidence in the challengers. Kalshi traders placed Menefee’s chances above 90% against Green, while Ken Paxton gained roughly 96% odds over Cornyn after receiving support from President Donald Trump.

The Senate race also attracted more than $16 million in betting volume, reflecting growing public attention.

Crypto Policy Stakes Grow Ahead of 2027

The outcome of these races could influence the balance of power in Congress and shape future digital asset regulation. Lawmakers under Republican leadership previously advanced crypto-related legislation, including the GENIUS Act focused on stablecoin oversight.

With campaign money and prediction markets aligning, Texas has become an important political test for the crypto industry’s growing influence in US elections.