US midterm campaign projected to cost a record nearly $12bn

Summary

The 2026 US midterm campaign is projected to cost nearly $12bn, a record that is set to shatter previous spending records. BBC reports that Musk has put $446m into US midterm spending, and BBC Verify is looking into where all that money has come from. Al Jazeera reports that candidates, donors and super PACs are spending more than ever on political campaigns, as the cost of living soars.

Timeline

1. BBC

   2 Nov 2026, 20:54 UTCSource ↗

   BBC reports that Musk has put $446m into US midterm spending as campaign spending is set to shatter records, with the 2026 campaign projected to cost nearly $12bn, and that BBC Verify is looking into where the money has come from.

2. Al Jazeera

   3 Nov 2026, 15:40 UTCSource ↗

   Al Jazeera reports that US midterm campaigns have cost a record $12bn as the cost of living soars, with candidates, donors and super PACs spending more than ever on political campaigns.