Midterm Spending Hits Record $11.9 Billion
Total campaign costs for the 2026 midterms are projected to far exceed the 2022 cycle, with outside spending leading the increase.
Updated on Nov. 2, 2026 in Elections
Live Poll
Do you trust that big campaign spending makes Congress more responsive to voters?
Campaign spending in the 2026 midterm elections has reached a new record, with the total projected to hit $11.9 billion. That is up from the $8.9 billion spent in the 2022 midterms.
Why it matters
Outside spending is expected to reach $3.9 billion in 2026, an 85% increase over 2022, driven largely by super PACs. The scale of spending shapes which candidates can compete and how voters encounter races across the country.
Open Secrets reports $11.9 billion projected total spending for 2026 against $8.9 billion in 2022, with outside spending projected at $3.9 billion. Conservative groups have outspent liberal groups $2.03 billion to $1.67 billion so far, and final totals remain unknown until the cycle closes.
The players
Open Secrets
A nonprofit, non-partisan research firm that tracks campaign financing and lobbying.
National Association of Realtors
A major real estate trade group and the largest finance-sector client, with over $30 million invested in lobbying.
The details
The health sector has spent over $460 million on lobbying this year and the finance sector over $384 million, with the National Association of Realtors the largest finance-sector client at over $30 million. Super PACs account for most outside spending, and the top 40 donors who exclusively support Republicans have given $1.5 billion this year.
Timeline
2022: Midterm elections cost $8.9 billion.
Jan. 1, 2025 to Oct. 14, 2026: Period covered by SIFMA PAC disbursement records.
2026: Midterm election spending projected to reach $11.9 billion.
Tuesday: Senate control will be decided in the election.
Election Trajectory
The 2026 projection of $11.9 billion continues the upward climb from the $8.9 billion spent in 2022. Outside spending's projected 85% jump over that cycle marks a steeper rise than the overall total.
Heavy outside spending shapes the political ads and messaging voters see in their home districts ahead of the vote. Voters in closely watched states such as Texas and Georgia are likely to encounter the most campaign activity.
The takeaway
Tracking who funds campaigns and lobbying efforts helps voters understand the interests behind the messages they see. Checking nonpartisan sources like Open Secrets can clarify where the money is coming from.
What happens next
Senate control will be decided in the election on Tuesday, at which point final spending totals will become clearer.
Further reading
Explore more on Elections coverage across the country.
Source note: This article includes information reported by Bond Buyer.
Live Poll
Do you trust that big campaign spending makes Congress more responsive to voters?
