Fairshake PAC Spends $5 Million in Texas Runoff to Back Christian Menefee Over Al Green

Texas primary runoffs this week are drawing heavy spending from cryptocurrency-aligned political action committees in contests that could shape the state's representation in Congress, with races for a U.S. Senate nomination and a Houston-area House seat carrying policy implications for the digital asset sector.

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The Democratic runoff for the 18th congressional district on Tuesday pits incumbent Al Green against challenger Christian Menefee, while the Republican Senate runoff pits Texas Attorney General Ken Paxton against incumbent John Cornyn after neither candidate secured a majority in Texas’ March primaries.

Cointelegraph

Protect Progress, affiliated with the Ripple- and Coinbase-backed Fairshake PAC, reported spending $5 million to support Menefee against Green, including $2.8 million in advertising opposing Green.

In the Senate race, the Fellowship PAC, funded by Cantor Fitzgerald and Anchorage, reported spending $500,000 to support Paxton over Cornyn, with the expenditure coming roughly a day after President Donald Trump endorses Paxton and criticizes Cornyn for being late to back his presidential bid.

Prediction markets are signaling strong momentum for the challengers, with Kalshi giving Menefee a 91% chance against Green and Paxton a 96% chance against Cornyn.

TradingView reported that the Kalshi prediction market gave its users 91% and 96% chances on event contracts favoring Menefee over Green and Paxton over Cornyn, respectively.

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The Senate contest betting volume was described as exceeding $16 million in total volume, while Polymarket gave both candidates similar chances in Tuesday’s runoffs.

In a local FOX26 segment aired on Sunday, Bill King, a former opinion writer for the Houston Chronicle, said, “I saw 12 television commercials yesterday paid for by the Protect Progress PAC [...] and that same group of people are the ones that are primarily funding Trump.”

The outcome of the runoffs could influence who wins Texas’ 18th district and one of the state's two Senate seats in the November general election, potentially affecting which political party controls Congress in 2027.

“Texas primary runoffs this week are drawing heavy spending from cryptocurrency-aligned political action committees in contests that could shape the state's representation in Congress”

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Under a Republican majority, lawmakers have passed legislation backed by the crypto industry, including the stablecoin GENIUS Act, making the Texas runoffs especially important for political groups seeking a more favorable policy environment for digital assets.

Cointelegraph said at least one of the ads funded by Protect Progress to support Menefee did not mention crypto or blockchain, but instead focused on Green's opposition to US President Donald Trump.

The article also tied the political spending to Trump’s endorsement, noting that the Fellowship PAC’s $500,000 expenditure to support Paxton came about 24 hours after Trump endorsed Paxton and said Cornyn had been “very late in backing” him as a Republican candidate for president.