The 2026 midterms have become the most expensive election cycle on record, with races dominating ad spending charts. As of Monday, $11.21 billion was spent on ads, surpassing the $11.2 billion mark of the 2024 cycle, which had $3.2 billion spent solely on the presidential race, according to AdImpact. The firm reported that four races from the current cycle rank among the ten most expensive nonpresidential races ever, with another race not far behind.
Texas Senate Race
The Texas Senate race takes the lead as the most expensive nonpresidential race, with $557.6 million spent as of Tuesday. This figure includes expenditures from the costly primaries. In the general election, Republicans spent $269.4 million, while Democrats spent $130.8 million. Democratic nominee James Talarico raised more direct donations than his Republican opponent, Attorney General Ken Paxton, who relied heavily on PAC contributions.
Ohio Senate Race
The Ohio Senate race has surpassed $500 million in ad spending, marking the third most expensive nonpresidential race after the 2024 Ohio Senate race. Former Sen. Sherrod Brown is attempting to reclaim his seat, now held by Sen. Jon Husted, who was appointed following Vice President Vance’s move. AdImpact reveals substantial spending for Brown’s campaign during this cycle.
California Governor Race
California’s governor race has reached a spending total of $349.4 million, becoming the highest gubernatorial race in history, largely attributed to the crowded June primaries. Billionaire Democrat Tom Steyer contributed significantly with over $200 million spent before losing. Former Health and Human Services Secretary Xavier Becerra is predicted to win against former Fox News host Steve Hilton.
Michigan Senate Race
With $347.5 million spent on ads, Michigan’s open Senate race ranks eighth in spending for nonpresidential races. Democrat Abdul El-Sayed competes against former Rep. Mike Rogers for Sen. Gary Peters’s retiring seat. Republican ad spending reached $143.5 million compared to the Democratic side with $117 million.
Georgia Governor Race
Georgia’s gubernatorial race has totaled $297 million in ad spending, driven mainly by GOP nominee Rick Jackson’s personal contribution. By mid-June, spending for the primaries reached $162 million, heavily influenced by Jackson’s investment. He faces former Atlanta Mayor Keisha Lance Bottoms in a close match.
Economic Insights Before Election Day
The latest economic reports unveiled an increase in GDP to 3.4 percent for the third quarter, boosted by investments in artificial intelligence. However, increased growth also meant inflation rose, reflected in a 0.5 percent rise last month according to the BEA. This inflation rate remains higher than the Federal Reserve’s target.
Alaska’s Controversial Race
Federal investigations are unfolding in Alaska over allegations of ballot stacking with candidates of identical names. Democratic candidate Mary Peltola is facing scrutiny with an ongoing investigation possibly affecting election outcomes. Gov. Mike Dunleavy emphasized methodical attention to any wrongdoing uncovered.
Trump Adjusts Campaign Strategy
President Trump’s campaign plans shifted to virtual appearances following high demand for rallies. He canceled planned visits to Kansas and Iowa but will address voters via telerallies across 19 states while still scheduled for an event in Florida.
Musk’s Influence in Ukraine
Elon Musk faces spotlight after the reduction of Ukraine’s connectivity via Starlink, with his company’s decision-making impacting global affairs. Ukraine depended on Starlink and later Starshield, adding a layer of complexity to military operations during the Russia-Ukraine conflict.