Economic Intelligence Brief No. 15 — Updated July 2026

Regulation Crowdfunding by Congressional District: A Report Card

A rolling, district-by-district scorecard of Reg CF activity across all 435 U.S. House districts.

435 — U.S. Congressional districts scored

Summary

Federal policy on Regulation Crowdfunding is made in Congress — but the picture at the district level is where the debate actually lives. This report card scores every U.S. House district on Reg CF activity: capital raised, issuers funded, investors participating, and per-capita reach. Unlike the other briefs in this library, it is a live piece — refreshed on a rolling basis as new SEC EDGAR filings post — so members, staff, and constituents can see how the exemption is working at home right now.

Key findings

All 435 U.S. House districts scored, with the District of Columbia and U.S. territories reported alongside.
Each district graded on four dimensions: capital raised, issuers funded, investor commitments, and per-capita capital.
Rankings and letter grades refresh on a monthly cadence as new Form C and Form C-U filings post to SEC EDGAR.
Issuer addresses are geocoded and mapped to current 119th Congress district boundaries.
Built on the same CCLEAR record that anchors the other 16 briefs — every figure ties back to SEC EDGAR.

Frequently asked questions

Why look at Reg CF by Congressional district?

Federal policy on Regulation Crowdfunding is set in Congress. District-level data lets members and their staff see exactly how the exemption is working for their constituents — capital raised, issuers funded, and investors participating in their own district.

How often is the report card updated?

On a rolling basis. District totals refresh as new Form C and Form C-U filings post to SEC EDGAR, and the report card reflects the most recent monthly snapshot rather than a fixed annual edition.

How are issuers assigned to a district?

Issuer principal office addresses are geocoded and mapped to current 119th Congress district boundaries.

Audience

Congress · federal policy · constituent research

About this brief

Published by CCLEAR.ai. Anchored to public SEC EDGAR filings and hand-verified against a locked data snapshot. CCLEAR is a data publisher, not an investment adviser; figures describe market activity, not investment outcomes or advice.

Regulation Crowdfunding by Congressional District: A Report Card · CCLEAR Research Library · License the data · Commission research

More briefs in the CCLEAR Research Library

Democratized Capital — Women & Minority Founders in Reg CF — How crowdfunding distributes capital to women- and minority-led companies.
Funding America's Industrial Base — Crowdfunding capital flowing to U.S. manufacturing, energy, and clean tech.
The Main Street Barometer — Retail investor sentiment and participation, tracked over a decade.
A Market Comes of Age — A decade of valuation and capital-structure trends.
What's Your Company Worth? — Valuation benchmarks by company age and revenue stage.
Innovation Geography — How startup capital is decentralizing across the country.
Built to Last — Survival rates of crowdfunded companies vs. national baselines.
The $42.5 Billion Engine — The economic output generated by Reg CF companies.
The First Two Weeks — How a campaign's first 14 days predict its final raise.
The CrowdFinance Index — A daily, rules-based index of the crowdfunding market.
The Crowdfunding Genome — America's top-30 startup-crowdfunding ecosystems, ranked.
After the Raise — What happens to companies after they crowdfund.
The Language of the Raise — NLP on 6,800 pitches — the words that move money.
What Capital Costs — The cost and structure of crowdfunding capital by instrument.
Marked Up — How valuations grow when companies crowdfund again, and the paper markup that creates.
The Exit File: Sales, Mergers & Public Listings of U.S. Regulation Crowdfunding Companies — Crowdfunded companies are exiting — $6.1B in sales, mergers and public listings in just fourteen months.