90% of crypto's Illinois primary spending failed to achieve its objective

The cryptocurrency industry super PACs dumped $14.2 million into the Illinois primaries. 90% of that – $12.8 million – was wasted, in that it went to opposing Democratic candidates who won their primaries (Stratton in the Senate race, Ford in H-07) or supporting their opponents.

The Fairshake pro-crypto super PAC network spent $10 million to oppose Senate candidate Juliana Stratton and $2.5 million to oppose H-07 candidate La Shawn Ford, both of whom won their primaries

The PACs' only victories in the state were where they contributed money towards outcomes that were already highly likely. They opposed Robert Peters (H-02), who had been polling in third place and ultimately received 12% of the vote. They supported Bean (who was leading the polls in H-08) and incumbent Budzinski (H-13).

Sadly this early spending in Illinois used up less than 6% of what the super PACs have on hand, so buckle up for a looong eight months.