Dark Money Spending Hits $1 Billion in 2026 Midterms

At least $1 billion in anonymous dark money is flowing into the 2026 U.S. midterm elections, according to a New York Times analysis of advertising data and campaign filings. This funding, provided by billionaires, corporations, and special interests, is being utilized by both Republicans and Democrats to influence House and Senate races via nonprofit organizations and pop-up super PACs.

The Federal Election Commission and the Internal Revenue Service have struggled to police this spending due to a lack of quorum at the commission and budget cuts at the IRS. This regulatory gap has allowed groups like Securing American Greatness to spend at least $44 million boosting Republican candidates, while the American Prosperity Alliance funneled $37 million into super PACs to intervene in Democratic primaries.

Spending has concentrated in key battlegrounds, including Maine, where nearly $75 million in secret funds have targeted Senator Susan Collins's race, and Texas, where Republican-linked groups targeted Democratic primaries. Advocacy groups warn that these loopholes leave the electorate with limited transparency regarding the sources of political advertisements and policy campaigns.