Former congressman targeted by crypto PAC runs again in California

Katie Porter is stepping up her California gubernatorial campaign in preparation for the June 2026 primary election.

Last year, Porter lost his Senate race to Adam Schiff. Her campaign blamed the loss on $10 million in independent spending that the super PAC Fairshake used to fund attack ads against her.

Porter aims for Newsom’s seat

Porter is once again vying for political office in California. This time, her focus is on the governor’s seat, which will be vacant when Gov. Gavin Newsom ends his term in 2026.

The former congressman began his campaign in March of this year, a year after losing last year’s primary for a state Senate seat to Adam Schiff.

During this election, Porter’s campaign faced intense attacks from FairShake, a super PAC with a strong pro-crypto agenda.

Why Porter became Fair Shake’s top target

During the 2024 election cycle, FairShake spent tens of millions of dollars in outside spending to target primary candidates across the country who were deemed not to prioritize cryptocurrencies as part of their political agenda.

Of these candidates, Mr. Porter was hit the hardest. The PAC spent more than $10 million on targeted advertising against Porter, according to government transparency group OpenSecret.

The heavy spending on Porter was very different from the efforts of Fairshake’s other anti-candidates. Jamal Bowman was the second most targeted candidate, and Fairshake spent nearly $2.1 million to defeat him in the New York state primary.

Porter was a strong critic of cryptocurrencies during the last election, making him a target of the industry. This was evidenced by Fairshake’s significant outside spending to oppose her campaign.

A key part of her critique included questioning the energy consumption of crypto mining and its impact on the climate crisis. Porter has become a target of industry lobbyists in part because of his relationship with Sen. Elizabeth Warren, one of Congress’ most prominent crypto critics.

In contrast to Porter, Schiff’s position on cryptography was generally more favorable and supportive of innovation. The industry’s approval of his candidacy is clearly reflected in the A rating he received from Stand With Crypto, a cryptocurrency advocacy group backed by Coinbase.

If the past is any indication, Mr. Porter is likely to once again face intense lobbying with FairShake.

Early polls and the looming impact of cryptocurrencies

The current 11 candidates for California governor include seven Democrats, three Republicans, and one Green Party member.

Fairshake has recently prioritized Republican candidates, but this pattern is unlikely to hold true in California.

The state’s last Republican governor was Arnold Schwarzenegger, who served as governor from 2003 to 2011. As a historically Democratic state, California is likely to continue under Democratic leadership.

Former California Majority Leader Ian Calderon is the only Democratic candidate to explicitly express support for pro-cryptocurrency policies.. Calderon announced his candidacy in September, a move that was widely celebrated by the crypto community.

Meanwhile, rumors have surfaced that billionaire businessman Rick Caruso and Democratic Sen. Alex Padilla are considering entering the race.

Caruso currently leads with a 33% chance of becoming the state’s next governor, followed by Padilla with 26%, according to Carsi’s predictive poll. Porter’s odds recently dropped to 17% after his controversial interview with a CBS reporter on Tuesday went viral.

Both Caruso and Padilla have expressed positive attitudes towards cryptocurrencies. In 2021, Caruso’s namesake company announced that real estate renters could now pay using Bitcoin.

That same year, Caruso invested some of his cash in Bitcoin through a partnership with the Winklevoss-led Gemini exchange.

Meanwhile, Stand With Crypto currently rates Padilla’s stance as “very supportive” and gives it an A grade. This assessment reflects his consistent support for the GENIUS Act, which was passed earlier this year.

Although the campaign is still in its early stages and campaign funds are starting to trickle in, crypto politics is certain to be a key factor in the California gubernatorial race, with FairShake potentially heavily supporting pro-crypto candidates, as he did in the Senate primary, or aggressively targeting Porter.

The article Former Congressman Targeted by Crypto PAC in California appeared first on BeInCrypto.