CrowdCheck has released the following comparative analysis of intrastate crowdfunding exemptions, providing a concise view of happenings in the various states that are currently considering crowdfunding exemptions.
Michigan, North Carolina and Wisconsin are the only states to buck the $1 million annual cap on fundraising for companies making use of the exemptions. All three states allow raising up to $2 million if the issuer agrees to an independent CPA audit.
Things move fast in intrastate crowdfunding, though, and this document is already a tad behind the times; in the 48 hours or so since release, Indiana has announced an initiative of their own. 10 states are now in some stage of implementation.
Beta. Initial Form 1-A only. Target raise is the stated Amount to be Raised, totaled. Compared with the same dates one year earlier.
YTD: Jan 1, 2026 - Oct 23, 2026 vs Jan 1, 2025 - Oct 23, 2025
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Number of Filings131Prior 125 +4.8%
Target Raise, Total$3.40BPrior $3.54B -3.9%
This YTD
Year prior
Change
Filings
131
125
+4.8%
Target raise
$3.40B
$3.54B
-3.9%
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the leading digital news service covering the global Fintech Industry, including digital assets, crowdfunding, tokenization, and other innovations in capital markets. email us@CrowdfundInside
This display counts initial Form 1-A filings only. It does not represent subsequent filings, including Form 1-A/A amendments or Form 1-A POS post-qualification updates filed by the issuer. Amounts are the stated Amount to be Raised on the initial filing, not capital raised and not amounts revised in later filings.
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