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.