The Midterms Are Set To Cost Nearly $12 Billion. Here Are The Most Expensive Races And Who Won.

The 2026 midterm elections are on track to cost nearly $12 billion, setting a new spending record. But the enormous amounts poured into some of the country's most expensive races did not always translate into victory for the candidates backed by the biggest spending efforts.

Total federal election spending is projected to reach $11.9 billion once all campaign finance reports are filed, according to an OpenSecrets analysis of Federal Election Commission data.

That would surpass the $8.9 billion spent during the 2022 midterms, or approximately $10.2 billion after adjusting for inflation. Much of the increase came from outside political groups, whose spending is expected to reach $3.9 billion, up 85% from four years earlier.

Texas attracted the most money of any Senate race, with an estimated $680 million spent during the election cycle. Democrat James Talarico defeated Republican Ken Paxton in a contest where Republican-aligned spending accounted for roughly 60% of the total.

Of the $680 million, approximately $192 million came from candidates' campaigns, while independent political groups spent another $488 million, according to the 2026 Midterm Money Tracker, which compiles spending reported to the FEC.

Talarico was also the highest-spending individual congressional candidate in the country.

His campaign spent approximately $136.4 million during the 2025-2026 election cycle, based on FEC data downloaded Oct. 28 and analyzed by USAFacts.

The distinction matters because the $680 million reflects spending across the entire Texas Senate contest, including other candidates and outside groups, while Talarico's figure covers expenditures from his own campaign.

Ohio was the second-most-expensive Senate race, drawing approximately $505 million. Outside organizations accounted for about $420 million, with Republican-aligned spending exceeding Democratic-aligned spending.

Former Democratic Sen. Sherrod Brown defeated Republican incumbent Jon Husted, returning to the Senate two years after losing his seat in 2024.

Brown was also the third-highest-spending individual congressional candidate nationwide, with approximately $64 million in campaign expenditures.

Michigan followed with $434 million in total Senate spending, including $335 million from outside organizations. Democrat Abdul El-Sayed defeated Republican Mike Rogers in a contest where Democratic-aligned spending held a slight advantage.

El-Sayed ranked fourth among individual candidates, having spent approximately $51.1 million through the latest FEC filings examined by USAFacts.

The spending figures reveal another interesting pattern: all five of the highest-spending individual congressional candidates were Democrats, and all five won their elections.

Georgia's Jon Ossoff ranked second, spending approximately $105.8 million from his campaign account. He defeated Republican Mike Collins to retain his Senate seat in a contest that attracted about $189 million overall.

North Carolina's Roy Cooper completed the top five, spending approximately $40.5 million. The former Democratic governor defeated Republican Michael Whatley, flipping a Senate seat that Republicans had held since 2005.

Together, Talarico, Ossoff, Brown, El-Sayed and Cooper spent approximately $397.7 million through the Oct. 28 data download. Their victories came as Democrats gained control of both chambers of Congress.

The campaign figures cover money spent by the candidates themselves, excluding independent expenditures by super PACs and other outside organizations.

In fact, USAFacts' analysis found that all 10 of the highest-spending individual congressional candidates were Democrats. Republican Susan Collins, who spent about $22.4 million, was the highest-spending Republican candidate.

Collins lost her Maine Senate seat to Democrat Troy Jackson after a race that attracted approximately $199 million in total campaign and outside spending. Republican-aligned groups accounted for about 54% of that amount.

Iowa was another expensive contest, drawing approximately $255 million, including $211 million from outside organizations. Democrat Josh Turek defeated Republican Ashley Hinson, giving Democrats another Senate seat in a state Trump carried in 2024.

Alaska also featured among the costliest races, attracting an estimated $152 million. The contest between Republican Sen. Dan Sullivan and Democrat Mary Peltola remained undecided in early Wednesday returns.

The figures include spending from primary campaigns as well as the general election, and some totals may change when additional disclosures are filed.

Spending on House races was considerably smaller, although several contests still attracted tens of millions of dollars.

New York's 12th Congressional District drew approximately $68.1 million, making it the most expensive House race. Michigan's 7th District followed with $57.4 million, while New York's 17th District attracted roughly $55.7 million.

Arizona's 1st District and Colorado's 8th District each recorded spending exceeding $50 million.

Despite Democrats' dominance in individual candidate spending, Republican-aligned organizations held the advantage among outside political groups.

As of Oct. 30, conservative groups had spent approximately $2.03 billion, compared with $1.67 billion by liberal organizations, giving Republicans a $360 million lead, according to OpenSecrets.

The Senate Leadership Fund, affiliated with Republican Senate leadership, was the largest outside spender at approximately $489 million. MAGA Inc., the super PAC associated with President Donald Trump, followed with about $353 million.

Candidate spending told a different story. OpenSecrets projected that Democratic congressional candidates would spend more than $2.2 billion by the end of the election cycle, compared with approximately $1.4 billion by Republicans.

The election also set a record for political funding from organizations that do not publicly disclose all their donors. OpenSecrets identified at least $1.47 billion in dark-money contributions to outside spending groups during the 2026 election cycle, exceeding the $1.35 billion recorded throughout the 2024 federal elections, which included the presidential race.

The final figures will become clearer as candidates and political committees submit their post-election disclosures. OpenSecrets said its dark-money estimate was a lower bound because some large contributions are not reported publicly until after Election Day.