Fairshake Notches Another Win With Arizona’s Ruben Gallego; 16 House Seats Still Uncalled

For the upcoming two years, Republicans will maintain a majority of 53 seats due to their recent victories in Pennsylvania, Ohio, Montana, and West Virginia. Notably, the political action committee Fairshake, which focuses on cryptocurrency, significantly contributed $40 million to support Bernie Moreno in the Ohio race.

Representative Gallego, hailing from Arizona (also known as the Grand Canyon State), endorsed the Financial Innovation and Technology for the 21st Century Act and a measure reversing Securities and Exchange Commission’s Staff Accounting Bulletin 121. Fairshake contributed $10 million to his campaign, along with fellow Democrat Elissa Slotkin who emerged victorious in Michigan’s Senate election. Both prediction platforms like Polymarket and Kalshi, as well as polls, anticipated his victory in the race.

As an analyst, I find myself reporting that at 12:30 ET on Tuesday (05:30 UTC), there remain 16 races undecided in the House of Representatives. The Republican Party has already secured 214 seats, which puts them within four seats of a majority for the next term. On the other hand, Democrats have won 205 seats so far. It’s worth noting that the Republican Party is currently favored to gain control of the House, given their position. With the Senate and Donald Trump’s victory in the presidential race, Republicans are primed to exert influence across all branches of government, should these remaining races swing in their favor.

In a simpler and more conversational style: Fairshake backed 56 candidates for House and Senate elections, primarily in primary contests held in districts considered safe. This means that once the primary winner is chosen, they usually go on to win the general election as well. For instance, this was evident in California’s Senate race where Fairshake invested heavily against Democrat Katie Porter. By last Friday, it seemed that this strategy was successful, with 48 of the backed candidates emerging victorious in the races announced so far.

At the moment, the current record shows a slight shift. Both Democrat Yadira Caraveo and Republican Mike Garcia have acknowledged defeat in their respective races, although the Associated Press has not officially declared the winners yet. Meanwhile, Democrat Mary Peltola and Republican Lori Chavez-DeRemer are behind, while Democrats Michelle Steel, David Valadao, and Juan Ciscomani are currently ahead of their opponents.