The Republican Party is pouring billions of dollars into campaign ads in the final stretch of the midterms, as the GOP grapples with the prospect of major losses in both the House and Senate. Republicans spent $1.9 billion on ads in October, said the firm AdImpact—equivalent to over $60 million each day. Alongside the $1.76 billion spent by Democrats and $350 million from independents, this brings the total for the month to a record $4.01 billion, up from $3.83 billion in 2024 despite the latter including a presidential election.
AdImpact has reported that this election cycle is the most expensive in the country’s history, with $11.2 billion already put into aired and future reservations and forecasts of a record $11.6 billion. The significant spending figures have been taken as proof that both parties view the contest as crucial, that more races than usual appear competitive, and that the parties harbor insecurities about certain candidates’ chances. And the latest figures from AdImpact come as polls continue to show Republicans on the cusp of significant losses and the potential surrender of their majorities in both chambers.
As well as the campaigns themselves, past analysis has identified a handful of individuals and super PACs that make up a sizable portion of midterm ad spending. On the Republican side, the Senate Leadership Fund (SLF) had contributed over $460 million toward candidates in battleground races as of mid-October, according to figures from the Federal Election Commission (FEC). Much of this was devoted to attack ads on the opposition.
This was boosted by a record fundraising push and a massive cash injection from Elon Musk, whose own America PAC had raised $216 million and spent $172 million during the cycle between January 1, 2025, and October 14, 2026. The New York Times said on Monday that total spending by Musk during 2025 and 2026 has reached $474 million. Other megadonors include No Going Back, President Donald Trump’s MAGA Inc.
Among pro-Democrat groups and figures, meanwhile, both Majority Forward and entities linked to the billionaire financier George Soros have poured over $100 million into campaigns. This is according to analysis by Al Jazeera and the New York Times. By region, AdImpact has found that much of this spending has been flowing into Senate races in this year’s battlegrounds.
Figures shared with Newsweek in mid-October revealed that over $500 million had been spent on the Texas contest between Democratic candidate James Talarico and Ken Paxton, the state’s Republican attorney general. And FEC filings analyzed by Newsweek show that, at over $200 million, more has been spent directly opposing Talarico than any other candidate. He is followed by Sherrod Brown in Ohio and Abdul El-Sayed in Michigan at $168.5 million and $127.8 million, respectively.
Extract — continue reading at the source.
