With less than three weeks to go before the 2026 midterms, campaign advertising is on track to shatter all previous spending records, according to new data from AdImpact. The firm reported Wednesday that combined ad expenditures and future reservations have already topped $10 billion this cycle, surpassing the final totals for the entire 2020 and 2022 election cycles.
AdImpact projects that total ad spending could reach $11.6 billion by Election Day, which would exceed the $11.2 billion spent during the 2024 presidential cycle. That would make this the most expensive midterm election in U.S. history, driven by intense battles for control of Congress and a surge of outside money.
Texas Senate race becomes a spending behemoth
Nowhere is the ad war more visible than in Texas, where the Senate race between Democrat James Talarico and Republican incumbent Ted Cruz has become a financial juggernaut. Talarico's campaign reported $64 million in donations for the third quarter alone, claiming it as the most any Senate candidate has ever raised in a single quarter. Overall, ad spending and reservations in the Texas race have hit $500 million, according to AdImpact, with Republican advertisers accounting for more than half of that total. That figure ties the 2024 Ohio Senate race as the only non-presidential contest to surpass the half-billion mark.
The Maine Senate race has also seen unprecedented spending, with over $200 million in ads and reservations—nearly double what was spent in that state during the entire 2020 cycle. The heavy investment reflects the race's pivotal role in determining which party controls the Senate.
September alone saw $1 billion in ads
AdImpact's data shows that September alone saw more than $1 billion in ad spending and future reservations, with Republican advertisers responsible for the majority. This surge comes as GOP outside groups and super PACs pour money into key battlegrounds, hoping to defend their narrow majorities.
The influx of cash has raised concerns about the influence of big donors. Tech billionaire Elon Musk has given more than $250 million to Republican campaign groups and organizations over the past three months, bringing his total contributions this cycle to $366 million. A spokesperson for Musk's America PAC confirmed the figures to The Hill, which were first reported by The New York Times.
The spending spree has also drawn attention to the broader political climate. Recent polls show that corruption is a top concern for voters, and many are demanding major changes. An AP-NORC poll found that 80% of voters want significant change in Washington, a sentiment that both parties are trying to harness.
Some strategists warn that the advertising arms race may not translate into electoral success. A former aide to Ted Cruz has cautioned that GOP enthusiasm is lagging, and Democratic veterans like Donna Brazile are urging their party not to become complacent, noting that polls can be misleading.
Meanwhile, President Trump's aggressive midterm blitz is drawing attention away from the economic message that Republicans had hoped to emphasize. And Vice President Harris has remained focused on the midterms, refusing to speculate about a 2028 bid. As the campaign enters its final stretch, the record-breaking ad spending underscores the high stakes of this election.
