The Radical Reading Room

Corporate political spending in the 2026 U.S. midterm elections has reached $737 million, a 60% increase from the 2024 presidential election, according to federal campaign finance data analyzed by Public Citizen. This figure represents 40% of the total corporate election spending since the 2010 Citizens United decision. Cryptocurrency, online betting, and Big Tech firms have contributed $391 million, accounting for over half of all corporate spending in this cycle.

The spending surge follows a trend of rising corporate influence in federal elections, with contributions rising from $12.8 million in 2010 to $117.9 million in 2016. Public Citizen’s Robert Weissman warns that corporations are using political spending to buy influence, not to advance civic values.

Meanwhile, AdImpact projects total campaign spending for the 2026 midterms at $11.6 billion—$400 million more than the 2024 presidential election—making it one of the most expensive election cycles in history. Key races like Michigan’s Senate contest and Texas’s Senate race have already seen expenditures exceeding $400 million.

Republican-aligned groups have outspent Democrat-aligned groups, with $572 million versus $457 million allocated, a shift from previous cycles where Democrats held spending advantages. The full spending will be determined as the campaign nears its end.