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U.S. Election Industry

Industry News

October 25, 2026

SEC Proposes Rescinding Investment Adviser "Pay-to-Play" Rule

The proposal would end Rule 206(4)-5's two-year compensation time-out for advisers whose personnel give to certain state and local officials. It is not final, and public comments are due Nov. 9.

The U.S. Securities and Exchange Commission has proposed rescinding its political contribution rule for investment advisers, the "pay-to-play" rule that has shaped how many people in the asset-management industry take part in state and local politics since 2010. The proposal could matter to the wider political ecosystem, but it is still only a proposal. The current rule remains fully in effect.

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October 25, 2026

AI Moves From Experiment to Everyday Tool in the 2026 Midterms

With Election Day approaching, artificial intelligence is showing up in campaign ads, voter text messages, platform rules and election-security warnings, while state and federal rules remain a patchwork.

When the 2024 presidential race was called the first "AI election," campaign use of generative tools was still mostly experimental. Two years later, AI has become a routine part of how campaigns communicate, how voters look for information, and how officials think about security. Here is where things stand as of late October 2026.

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