This story is part of a series of monthly snapshots from the Washington Examiner, titled Midterm Countdown, gauging the state of the 2026 election cycle. Scroll down to the bottom of the story for the latest prediction market odds of who is going to win.The 2022 midterm elections shattered spending records, with campaigns and outside groups pouring more than $16.7 billion into state and federal race, according to Open Secrets. There are already early signs that 2026 could surpass it.Republicans and their allies spent more than $100 million trying to save Sen. John Cornyn (R-TX), only to watch Attorney General Ken Paxton defeat him in a primary. The spending blitz underscored just how much money both parties are willing to deploy in high-stakes races.
Democrats are setting records of their own. Texas Democratic Senate candidate James Talarico has already raised more than $40 million, while Graham Platner, the presumptive Democratic nominee in Maine, has hauled in more than $16 million in his bid to unseat Sen. Susan Collins (R-ME).
The spending surge extends beyond the Senate. Rep. Thomas Massie’s (R-KY) primary became the most expensive in history after outside groups and political organizations flooded the race with money. Outside groups spent more than $30 million on ads alone to oust Massie, who lost to Trump-backed Ed Gallrein.
