Spending on political advertisements is projected to hit a new record, with this midterm season expected to reach a total of $10.8 billion, according to advertising company AdImpact.

That number for the 2025-2026 midterm season makes it the most expensive midterm cycle in history, surpassing spending for 2021-2022, which clocked in at $8.9 billion, by more than 20%. And it’s inching close to AdImpact’s price tag for the 2024 presidential election cycle, which reached $11.2 billion.

“We anticipate record spending across all race types due to the highly competitive national environment, with congressional spending specifically set to reach new heights,” the report said.

The race to snag control of Congress this year remains close, as Republicans hope to hold onto their 53-47 majority in the Senate and their 219-212 majority in the House. Key races in battleground states could determine or flip those majorities.

This cycle’s boost is largely expected to come from the connected TV, or CTV, category, which covers any television that connects to streaming apps and services. That spending will surge to $2.5 billion, AdImpact said, growing by 2% and earning a spot as the fastest-growing media type.