The 2026 midterm campaign is projected to be the most expensive U.S. election campaign on record
The 2026 U.S. midterms are projected to be the most expensive election cycle on record, with political advertising expected to reach $11.6 billion, The Straits Times and Firstpost reported. Separately, Open Secrets projects total campaign costs of $11.9 billion, while the Brennan Center for Justice says the 40 top donors gave a record $2.4 billion through Oct. 14.
More context
Advertising in the 2026 U.S. midterm campaign is projected to total $11.6 billion, which would make it the most expensive election cycle in U.S. history, The Straits Times and Firstpost reported.
BBC News separately reported OpenSecrets’ estimate of $11.9 billion in total campaign costs, roughly 30% above 2022. The figures refer to different measures: advertising and total campaign costs. Final spending totals will not be available until after the election, because candidates, parties and outside groups report spending to the Federal Election Commission.
The Brennan Center for Justice said the 40 biggest donors had contributed $2.4 billion by Oct. 14, the highest total recorded by that point in a midterm cycle. AdImpact said California’s governor’s race had $349.4 million in advertising spending and reservations as of Oct. 27, making it the most expensive governor’s race ever.
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Verifier’s note
BBC News reports a projected $11.9 billion total, while The Straits Times and Firstpost report the 2026 cycle is on track to be the most expensive, citing projected political-ad spending of $11.6 billion. All three support the central claim and were published within the relevant timeframe.