CNN reported on Wednesday that Leading the Future, a super political action committee (PAC) focused on electing AI-friendly members of Congress, is pledging to spend at least $100 million to influence the 2026 midterm election.

The PAC, which is backed by venture capital firm Andreessen Horowitz, Palantir co-founder Joe Lonsdale, and other AI heavyweights, is working to elect lawmakers who will pass legislation that will set a single set of AI regulations that will take effect throughout the US, overriding any restrictions placed on the technology by state governments.

The massive sum the PAC is dedicating to the 2026 midterms prompted Matthew Stoller, researcher at the American Economic Liberties Project, to remark that this is “what oligarchy looks like.”

Sen. Ted Cruz (R-Texas) tried to get a provision preempting state AI regulations slipped into the GOP’s major budget package last year, but it was ultimately taken out amid bipartisan resistance to giving the AI industry a blank regulatory check.

President Donald Trump subsequently signed an executive order instructing the US Department of Justice to create a task force that would sue any state governments that enact supposedly “onerous and excessive” regulations on the technology.