On Tuesday, voters across the United States will head to the polls to cast a ballot in the 2026 midterm elections. The race is expected to serve as a referendum on Republican President Donald Trump’s job performance so far, at the halfway mark of his second term. Maintaining the Republican majority in both chambers of Congress will be key for the success of Trump’s legislative agenda in his final two years.
But control of the US Congress could hinge on a handful of closely contested Senate and House of Representatives races nationwide. Candidates, political parties and outside groups are pouring hundreds of millions of dollars into the contests, with major political action committees (PACs), including those associated with billionaire tech CEO Elon Musk, fuelling the spending battle. Which races are costing the most, and who is bankrolling the fight for control of Congress?
This year’s midterms are projected to break records for the total amount of spending in a political election cycle. The advertising firm AdImpact estimated that $11.21bn has been spent in total for advertisements and reservations as of October 26, compared with $3.2bn for the 2024 presidential election season. Among the most expensive individual races are those for toss-up Senate seats.
Battles in Texas, Ohio and Michigan rank as the costliest. The race in Texas, for instance, is projected to shatter spending records for a US Senate race. A Democrat has not won statewide office in Texas since 1994, but Senate hopeful James Talarico aims to break the left-wing party’s losing streak.
Nearly every major poll suggests Talarico has a slim lead over his Republican rival, Texas Attorney General Ken Paxton. CNN, for instance, projected in late October that Talarico had 49 percent support, compared with Paxton’s 43 percent. Interest in the race is high.
The Texas secretary of state’s office released data indicating that nearly 4.5 million Texans cast their ballots in the first week of early voting alone. This election cycle, candidate campaigns and outside groups have spent more than $534m on the Texas race. Talarico has outpaced his opponent in fundraising.
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