US midterm campaign spending is projected to reach nearly 12 billion dollars

Campaign spending for the 2026 US midterm elections is projected to reach nearly 12 billion dollars, making it the most expensive midterm cycle on record, BBC News reported. Campaign finance data indicates that total expenditures are shattering previous records. [1]

According to the liberal leaning think tank Brennan Center for Justice, the top 40 donors contributed 2.4 billion dollars up until 14 October, BBC News reported. This figure represents a record high for that point in a midterm election cycle. [1]

BBC News reported that US campaign finance expert Michael Beckel said spending in the midterms is shattering records, with a larger portion of the money originating from the wealthiest donors and groups. Contributions are coming from both wealthy individuals and political action committees funded by corporations and non profit organisations. [1]

Geosor Corp and the Fund for Policy Reform, which were both founded by billionaire financier George Soros, have provided a combined 102 million dollars to liberal groups, BBC News reported. Former New York City mayor Michael Bloomberg was also highlighted as a prominent individual donor. [1]