The Big Spending Developments That Could Shape the Midterms

Massive sums of money are being spent on the midterm elections to determine control of Congress.

As groups spend record money on ads and donations to support candidates across the country, here are some key trends that could help determine the balance of power in Washington after November.

MAGA INC.

President Donald Trump’s allies have amassed a huge war chest ahead of the midterms. MAGA Inc., a pro-Trump political action committee, had almost $350 million on hand at the end of March.

How the group chooses to spend the money could have a major effect on the outcome of critical races.

So far, the group has been relatively conservative in its spending. In 2025, however, the group spent $1.7 million in support of Rep. Matt Van Epps, R-Tenn., to hold onto the seat of retiring Republican Rep. Mark Green.

Democrat Senate Candidates

Democrats need to net four additional seats in order to gain control of the Senate. And so far, they’re fundraising effectively.

In the first quarter of 2026, Texas Democrat Senate candidate James Talarico brought in over $27 million. Sen. Jon Ossoff, D-Ga., seeking to hold onto his seat, also raked in over $14 million.

The high individual fundraising numbers for Democrat candidates do not paint the full picture, however, as the National Republican Senatorial Committee outraised its counterpart, the Democratic Senatorial Campaign Committee, in 2025, and candidates such as Sen. John Cornyn, R-Texas, have brought in significant funds through authorized fundraising committees.

Ad Spending Records

Spending on political ads for this midterm cycle is through the roof.

A study from S&P Global Market Research projects “local TV political ad revenue reaching $4.02 billion in 2026.”

This would be a 15% increase from the last midterm cycle in 2022. That means political ads are likely to crowd the airwaves unlike in any other midterm cycle to date.

Big Tech Money

Big tech players are spending big in 2026.

In the first quarter of 2026, Leading the Future, a pro-tech super PAC supported by the tech company Palantir’s co-founder Joe Lonsdale and the investment firm Andreessen Horowitz, raised over $15 million.

Leading the Future has funded candidates in both parties.