These vulnerabilities—and others—inject doubt into the public’s perception of election integrity. That doubt is compounded by the fact that the three major election vendors in the United States—Election Systems and Software, Hart InterCivic, and Dominion—are owned by private equity. Together, they account for about 80 percent of all election equipment used in the United States. This leaves the public in the dark about who owns the voting machine companies, or how much money those owners make from elections.

At the very least, not knowing who is behind these companies—and if they have ties to either political party, donate to super PACs, or have a financial stake in the outcome of an election—undermines confidence in the proprietary software undergirding voting machines. The federal government, which does not participate in the administration of elections, could change this by requiring any election vendor paid with federal funds to disclose its full ownership and post its balance sheet. Until then, as Saltman warned, “situations may be created in which conflict of interest is a serious concern.”