US midterm campaign spending hits record $12.8 billion as polls close

Political ad spending in the 2026 US midterm elections reached a record $12.8 billion as polling places closed.

• Fox News reported campaign advertising spending in the 2026 midterms totaled a record $12.8 billion.
• Open Secrets, a research group, estimated candidates and outside groups spent about $12 billion this election cycle.
• Elon Musk contributed roughly $445 million to Republicans, according to campaign finance records.
• Open Secrets projected "dark money" donations to exceed a record $1.5 billion in the current midterms.