Where are the most expensive midterm races and who is funding them?

Voters across the United States are preparing to cast their ballots on Tuesday in the 2026 midterm elections. This cycle acts as a referendum on the job performance of Republican President Donald Trump at the halfway point of his second term. Preserving the Republican majority in both chambers of Congress remains vital for the legislative success of Trump during his final two years in office. However, control of the US legislature may depend on a small group of fiercely contested Senate and House races across the country. Candidates, political parties, and outside groups are pumping hundreds of millions of dollars into these contests, driven heavily by major political action committees, including those linked to tech billionaire Elon Musk. People frequently wonder where most billionaires live, and their financial influence is certainly visible in this election cycle's unprecedented advertising expenditures.

Projected to shatter previous fundraising records for a political cycle, total ad spending and reservations reached $11.21bn by October 26, according to estimates from the advertising firm AdImpact. Toss-up Senate seat battles stand out as the costliest individual races, with contests in Texas, Ohio, and Michigan leading the way. In Texas, the race is on track to set a new spending record for a US Senate seat. Democrat James Talarico aims to break a decades-long losing streak for his party in the state, holding a narrow lead in nearly all major polls over his Republican opponent, Texas Attorney General Ken Paxton. Early voting turnout has been immense, with nearly 4.5 million Texans casting ballots in the first week alone. Combined spending from campaigns and outside groups in Texas has already surpassed $534m.

While Talarico has raised $146m compared to Paxton's $22m, Paxton has received nearly $300m in outside spending support, including $37m from the Trump-aligned super PAC MAGA Inc. Ohio follows closely as the second-most expensive Senate race, where Democrat Sherrod Brown and Republican Jon Husted have drawn over $435m in spending amid tight polls. Meanwhile, Michigan's contest between Republican Mike Rogers and Democrat Abdul El-Sayed has recorded an estimated $333m in spending. Across the nation, Republicans have generally out-raised and out-spent Democrats since the start of 2025, maintaining a distinct cash advantage according to Federal Election Commission quarterly reports.

Record-shattering spending fuels the most expensive US Senate races in Texas, Ohio, and Michigan.

Why it matters

The outcome of these heavily financed Senate races will determine control of the US Congress, directly impacting the legislative success of President Donald Trump's final two years in office. The massive influx of campaign funds highlights the high stakes involved in maintaining congressional majorities.