Crypto PACs Target Porter in 2026 Governor Showdown

Katie Porter, the former U.S. Representative who lost her 2024 Senate bid, has launched a campaign for California governor in 2026, reigniting the role of crypto-backed political groups in the race. Her previous Senate campaign faced over $10 million in attack ads from Fairshake, a pro-crypto Super PAC that has since become a major force in U.S. elections. Porter's platform, which includes critiques of crypto mining's environmental impact and her alliance with Senator Elizabeth Warren, has historically clashed with the PAC's priorities, raising expectations of renewed financial pressure as the gubernatorial contest unfolds.

The current field of 11 declared candidates includes seven Democrats, three Republicans, and one Green Party entrant. Among Democrats, only Ian Calderon has explicitly endorsed pro-crypto policies, having received strong support from crypto-aligned groups since launching his campaign in September 2025. Billionaire businessman Rick Caruso and Senator Alex Padilla, currently leading prediction markets with 33% and 26% chances of winning, respectively, also hold favorable crypto records. Caruso's real estate firm accepted Bitcoin payments in 2021, while Padilla earned an A-rating from Stand With Crypto for supporting the GENIUS Act. Porter's odds have dropped to 17% following recent media scrutiny, though her anti-crypto stance remains a key differentiator in a state where crypto lobbying has grown increasingly influential.

Fairshake's financial firepower has expanded significantly, with over $141 million in cash on hand as of July 2025, fueled by contributions from Coinbase, Ripple, and Andreessen Horowitz. The PAC's 2024 spending helped secure victories for pro-crypto candidates like Ohio's Bernie Moreno, who received $40 million in crypto-funded support. Analysts suggest the group may replicate this strategy in California, either by backing pro-crypto candidates like Calderon or intensifying attacks on Porter, mirroring its 2024 tactics.

The crypto industry's broader political strategy is evident in its growing network of affiliated groups, including the Winklevoss-backed super PAC that launched with $21 million to advance Trump-era pro-crypto policies. These efforts align with legislative priorities such as the GOP-led CLARITY Act, which seeks to establish a regulatory framework for digital assets. With California's tech-centric economy and upcoming redistricting debates, the state's 2026 election has become a focal point for crypto interests seeking to shape policy outcomes.

Porter's campaign has not yet responded to inquiries about Fairshake's potential involvement in the gubernatorial race. However, her past resistance to crypto-friendly policies-such as her advocacy for stricter energy regulations on mining-suggests continued tensions with the industry. Meanwhile, prediction markets and early polling indicate a competitive race, with Caruso and Padilla positioned to leverage their pro-crypto credentials to attract both tech investors and broader voter bases.

[1] Blockonomi (https://blockonomi.com/crypto-politics-return-as-katie-porter-enters-ca-governor-race/)

[2] Yahoo News (https://www.yahoo.com/news/articles/ex-congresswoman-targeted-crypto-pac-204458314.html)

[6] CNBC (https://www.cnbc.com/2025/07/15/crypto-super-pac-fairshake.html?msockid=296b90ee61516d030751866f60166c7f)

[8] Politico (https://www.politico.com/news/2025/07/15/crypto-super-pacs-war-chest-key-house-votes-00452356)