Midterm ad spending has set a new record. The ad-tracking firm AdImpact counts $11.21 billion in political ads aired or booked for the 2025–26 cycle, TheWrap reported on October 27. With Election Day on November 3, that already edges past the $11.20 billion spent in the 2024 presidential cycle.
Key facts (as of October 2026)
- AdImpact’s $11.21 billion total includes future reservations and is not adjusted for inflation, according to TheWrap.
- The previous midterm record was $8.9 billion in 2022, so this cycle is more than $2.3 billion higher.
- Texas, Ohio and Michigan have the three costliest Senate contests this year, according to AdImpact figures reported by 13abc.
US midterms: Tuesday, November 3, 2026
How much is midterm ad spending in 2026?
The short answer is more than ever in any US election cycle, at least before inflation. AdImpact's count reached $11.21 billion in its update this week, TheWrap reported. That is a hair above the 2024 presidential cycle's $11.20 billion.
That comparison matters because presidential years usually cost far more. In 2022, the last midterm year, the total was $8.9 billion. So this year's spending is about a quarter higher, even with no White House race on the ballot.
Which races cost the most?
Senate races lead the list, with a handful of battlegrounds taking a large share. The table below uses AdImpact figures from two reports a few weeks apart, so the later numbers are higher.
| Race | AdImpact total | Reported by |
|---|---|---|
| Texas Senate | $501 million | Newsweek, Oct 14 |
| Ohio Senate (special) | more than $500 million | 13abc, Oct 27 |
| Michigan Senate | $347.5 million | 13abc, Oct 27 |
| Maine Senate | $259 million | Newsweek, Oct 14 |
| Iowa Senate | $207 million | Newsweek, Oct 14 |
According to 13abc, only three races other than presidential ones have ever passed $500 million. They are the 2024 Ohio Senate race and this year's Texas and Ohio Senate contests. California's governor race also ranks above Michigan this cycle.
These totals include ads from candidates, parties and outside groups on both sides. They also include time booked for the final days of the campaign.
Where is the money coming from?
Money is pouring in on both sides, but through different channels. Joedy McCreary, a senior reporter at OpenSecrets, told Marketplace that Democratic candidates have tended to raise more than Republican candidates. Outside groups, on the other hand, have generally leaned Republican.
A small number of those outside groups account for a big slice of the total. For example, the six largest outside spenders had each spent about $60 million by October 5, McCreary said. He added that, between them, these six groups made up over one-third of all the spending.
Ohio shows how this works in a single race. Democrat Sherrod Brown had raised more than $61.6 million and Republican Jon Husted more than $19.2 million, FOX19 reported from Federal Election Commission filings. Even so, the race's ad total is several times larger than what the candidates raised, because outside groups pay for much of it.
Why is midterm ad spending so high this year?
Close races are the main reason. With control of both chambers in play, money flows to the few seats that could decide it. Decision Desk HQ rated four Senate races as toss-ups on October 28, and three of them, Texas, Ohio and Maine, are among the most expensive.
The way people watch TV matters too. In the third quarter of 2026, broadcast TV took 51% of aired spending, connected TV (streaming on smart TVs and devices) took 23% and digital 15%, TheWrap reported from AdImpact data. As a result, campaign ads now reach many viewers who no longer pay for cable.
Timing also plays a part. Campaigns with less money often save it for the final two or three weeks, Marketplace reported. Jesse Contario of the ad firm MiQ told the outlet that "2026 will almost undoubtedly be the most expensive political cycle in history."
What does record midterm ad spending mean for viewers?
In swing states, expect wall-to-wall political ads through November 3, on broadcast channels and on streaming services alike. For viewers abroad, that means little, because US campaign ads are aimed at US audiences. Still, the spending explains why the same few races dominate national coverage. Our explainer on prediction markets and investors covers the money side from a different angle.
How to watch election night live
The most expensive races close their polls between 7:30 p.m. and 9 p.m. ET, which is 00:30 to 02:00 GMT. Our guide to poll closing times has every state. For the main networks and free streams, start with how to watch the midterm results live, or follow the C-SPAN live stream and the NewsNation live stream. Readers in Britain and Europe can use our guide to watching the US midterms from the UK and Europe.
Coming soon: the NewsLive streaming app. We're building one subscription for live international news on Android, Roku, Fire TV and desktop. The service is under development — follow NewsLive for launch updates.
Frequently asked questions
Is 2026 the most expensive midterm election ever?
Yes, by ad spending. AdImpact counts $11.21 billion for the cycle, against $8.9 billion in 2022, TheWrap reported. The figures are not adjusted for inflation.
What is the most expensive Senate race in 2026?
Texas and Ohio have both passed $500 million in AdImpact's count, with Michigan third among Senate races. The final order may change as late bookings come in.
Who tracks midterm ad spending?
AdImpact tracks ad time aired and booked, while the Federal Election Commission publishes campaign finance filings and OpenSecrets analyzes them. Follow the numbers that matter for control on our midterm election forecast page and in our Elections coverage.
