As cryptocurrency becomes more prevalent, it's also making its way into the political arena. With millions of dollars being funneled into campaigns across the country, including here in Ohio, questions are arising about the impact this new wave of funding will have on elections - and, more importantly, what it means for voters.
Mark Hays, a senior policy analyst in financial technology with Americans for Financial Reform, said it's important for Ohioans and everyone across the country to be aware of the money's origination.
"There's a small group of wealthy individuals tied to the crypto industry pouring unprecedented amounts of money into campaign spending to dictate a particular policy outcome that will help them to continue to profit from scammy and predatory practices," he cautioned.
Hays highlighted concerns that the influx of crypto money could sway political decisions to favor industry players. The FBI recently reported more than $4 billion lost in crypto-related scams in 2023 alone. Meanwhile, proponents of cryptocurrency argue it is a valuable tool for economic growth, suggesting that it could help modernize financial systems. However, critics warn that the current push for less regulation might leave consumers vulnerable to fraud and financial instability.
On the other side of the conversation, supporters of cryptocurrency see potential benefits, but some in Ohio are voicing concerns about the influence of large crypto donors on local elections.
Melissa Cropper, Ohio Federation of Teachers president, offered another perspective.
"Why are the cryptocurrency people pouring money into this election? Are they pouring money into the election because they want to make sure that the business stays unregulated? And if that's the case, that's not what we want here in Ohio," she questioned.
As more money from the crypto industry pours into Ohio's elections, the debate over how to regulate this relatively new technology intensifies. Proponents point to the potential for job creation and financial innovation, while critics worry that Ohioans may end up paying the price if regulations are weakened. With $174 million already spent nationally on the 2024 elections by the crypto industry, Ohio remains a key battleground in this debate.
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Early voting for the Wisconsin Supreme Court race starts next week and, although the seat is technically nonpartisan, both candidates have clear political alignments and backers that are being heavily scrutinized. The topic prompted some of the sparks in last night's heated debate.
Republican billionaire Elon Musk has poured millions into backing Waukesha County Judge Brad Schimel in the April Supreme Court race. Musk's company Tesla is suing the state for denying its request for dealers licenses - a case that could reach the high court.
University of Wisconsin-Madison mass communications professor Michael Wagner said the state's rule about justices making their own decisions about when to recuse themselves from cases makes the election outcome that much more consequential.
"It's in a presidential swing state, it's on a swing court," said Wagner, "and the cases that are going to come before the court are going to be cases where the donors in the election, most notably Elon Musk, have a clear interest and a clear path they want the winning judge to take."
Judge Susan Crawford of Dane County has been called out for receiving campaign money from Democratic billionaire George Soros and Illinois Gov. J.B. Pritzker. Spending on this race is expected to top the historic $56 million spent on the last state Supreme Court race.
Millions have been spent on ads to sway undecided voters. A recent Marquette University poll found many say they still don't know enough about each candidate. Wagner said he doesn't think they'll have a dramatic impact on the election outcome, and predicted party allegiance will drive most voters. But he notes some of the ads egregiously misrepresent the candidates - such as a Schimel campaign ad that featured the wrong Susan Crawford - which speaks to today's contentious political climate.
"We live in this environment where it's just easier to take the shortcut that feels good in the moment," he said, "even if it's not true, even if it isn't good for the long-term 'project' of living together and governing together as citizens."
The April 1 election is already in the national spotlight, as it will determine the political influence of the Wisconsin Supreme Court. Early voting begins next Tuesday.
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Nearly 1,000 political scientists from across the U.S., including Montana, have signed a statement expressing how they feel the Trump administration's actions are threatening American democracy.
The letter, signed by experts at colleges and universities in both red and blue states, highlights six specific concerns. They include the administration's actions to cancel spending approved by Congress.
Montana State University Professor of Political Science Sara Rushing noted that while cutting expenses may be a good business strategy, democracy is not a business.
That's why, she said, there are checks and balances.
"We have these procedures and practices built in to slow things down, build consensus, abide by processes, and make sure that things are fair and transparent," said Rushing. "Efficiency has never been the preeminent value of democracy."
She encouraged her fellow political scientists not to strike a tone of neutrality because, as she put it, democratic procedures and stakes "shouldn't be up for debate."
In defense of its actions, the White House says it's ensuring all federal agencies are accountable to the American people, as required by the Constitution.
More than 29% of Montana's land base is public land managed by federal agencies.
Montanans who previously worked for those agencies were some of the first to be directly affected by federal cuts, after an initial round of firings in mid-February.
Rushing said she worries the government's commitment to efficiency will "break" the systems that protect public lands.
"So, you can break Yellowstone and make it function terribly," said Rushing, "and then you can make an argument for privatizing it and running it like a business. And that would be a massive loss - not just to Montanans, but to Americans as a whole."
According to a 2024 University of Montana survey, 95% of Montanans said they visited national public lands in the past year, and about half of those said they paid more than ten visits.
Support for this reporting was provided by Carnegie Corporation of New York.
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Nearly 1,000 political scientists from across the U.S. have signed a letter, saying American democracy is under threat based on the early actions of the new Trump administration. A North Dakota expert is among those speaking out. Those who added their names to the statement work for colleges and universities in both "red" and "blue" states. They highlight six specific areas of concern, including the administration acting unilaterally to cancel spending approved by Congress. They say moves like that undermine checks and balances.
Mark Jendrysik, a political science professor based in North Dakota, says he personally feels the nation is in a "constitutional crisis."
"The presidency is attempting to basically render Congress superfluous to almost every important decision, and the most important decision, which is how money is raised and spent," hew said.
He added that Congress, currently under Republican control, seems too willing to surrender that power and said this has been a crisis building for decades, with the executive branch trying to seize more control. In defending certain actions, the White House says it's ensuring that all federal agencies are accountable to the American people, as required by the Constitution.
But Jendrysik, who isn't speaking on behalf of the University of North Dakota where he teaches, says the arguments he's seen from the Trump administration don't hold up. He says he realizes some people choose not to pay attention to what's happening, but he thinks both Congress and citizens should be worried, too.
"Someone else smarter than me [once] said, 'When citizens stop saying "the public affairs aren't my concern," then the republic is lost,'" he continued.
The authors behind the statement say Trump fairly won last fall's election, but add that his
victory doesn't grant him the right to overturn the nation's constitutional and legal order. Other political observers say longtime dysfunction in Congress in addressing the nation's problems has allowed too many voters to consistently view the legislative branch as ineffective, giving rise to an administration willing to push legal and ethical boundaries.
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