Katie Porter Relaunches Campaign for California Governor Amid Crypto Industry Opposition

Former Congresswoman Katie Porter is reigniting her political career with a campaign for California Governor ahead of the June 2026 primary elections. After losing her 2024 Senate bid to Adam Schiff, Porter is setting her sights on Governor Gavin Newsom’s soon-to-be-vacant seat, determined to make a comeback.

Porter’s previous campaign faced a fierce battle against the pro-crypto Super PAC Fairshake, which spent over $10 million on ads attacking her. The group, backed by major cryptocurrency interests, targeted candidates who were seen as unfriendly to the industry. Porter’s strong criticism of crypto mining’s environmental impact and her close ties with Senator Elizabeth Warren, another vocal crypto critic, made her one of Fairshake’s biggest adversaries. In contrast, Schiff’s crypto-friendly stance earned him an A-rating from the Coinbase-backed advocacy group Stand With Crypto, helping him gain broader industry support.

Now, as Porter reenters California politics, analysts expect the crypto industry to play a major role again. The gubernatorial race currently includes 11 candidates — seven Democrats, three Republicans, and one Green Party representative. Among Democrats, Ian Calderon, a former state assembly leader, stands out for his pro-crypto platform, which has already drawn backing from blockchain advocates.

Meanwhile, billionaire Rick Caruso and Senator Alex Padilla are rumored to be potential contenders. According to a Kalshi prediction poll, Caruso leads with a 33% chance of winning, followed by Padilla at 26% and Porter at 17%, following a controversial viral interview.

Both Caruso and Padilla are viewed favorably by the crypto community — Caruso’s company once accepted Bitcoin payments and invested via Gemini Exchange, while Padilla holds an A-grade rating from Stand With Crypto for supporting the GENIUS Act.

As campaign funding ramps up, California’s 2026 governor’s race is shaping into a defining moment for the intersection of politics and cryptocurrency regulation.