Midterm Political Ad Spending Tops $2 Billion.

Political ad spending for the 2026 election cycle is projected to reach $10.8 billion, making it the most expensive midterm election in U.S. history. With Election Day one month closer, the amount spent has now crossed another milestone. AdImpact says $2.01 billion has been spent through Jan. 30, which is a 46% increase vs. what was spent at this point during the 2022 midterm cycle.

The year got off to an active start. The ad tracking firm says it recorded $121.6 million worth of political ads last month, up 40% from four years earlier. The biggest total was in Texas, where $28.2 million of political ads across all media channels was recorded as a U.S. Senate seat battle heats up. That led to $7.4 million in political ads in Houston last month, with $7.1 million spent in Dallas.

The latest update shows that with under a month until the primary election will choose both parties’ candidates, the Texas Senate primary has seen $79.4 million in ad spending and reservations through Feb. 6. The vast majority is among Republicans, where $68.6 million has been spent vs. $10.8 million for the Democrats.

AdImpact says a lot of money is flowing into the race from allied groups, which likely offers a preview of the months to come. They also note that one candidate, Rep. Wesley Hunt (R-TX), has also been spending some money in the West Palm Beach, FL market where he presumably wants to get in front of President Trump while he is at Mar-A-Lago. Trump is said to be considering endorsing the challenger to incumbent Sen. John Cornyn.

The Texas race may also see a big uptick in spending in the coming weeks. Cornyn is reportedly preparing to unleash a $10 million ad blitz heading into the March 3 primary. The race could also go to a runoff, which would generate even more ad dollars for broadcasters.

AdImpact says there has also been plenty of spending in California, where a new governor will be elected in November with the state’s gubernatorial election garnering $35.2 million in spending to date. Most of that has come from San Francisco billionaire Tom Steyer, who has spent $30.8 million on ads and reservations. That far outpaces his Democratic rivals.

Elsewhere, Illinois is also tracking to be one of the more active states this cycle. AdImpact says no market saw more political advertising in January than Chicago, where its tally shows $8.7 million was spent.

“With five House seats and a Senate seat open, the winds of change are blowing through Illinois,” the firm’s latest update says. “That shift is already showing up on the airwaves. AdImpact has tracked $31.0M in advertising targeting these six primaries so far.”

The biggest battle is likely to be over who will succeed retiring Sen. Dick Durbin (D-IL). AdImpact says that race has already seen $26.6 million in total ad spending and reservations. There will also be a battle to fill a House seat in the Chicago area being vacated by the retiring Rep. Jan Schakowsky (D-IL).

AdImpact says Senate races in two other states — Louisiana and Maine — are also sparking some ad spending. In Louisiana, incumbent Sen. Bill Cassidy (R-LA) may face an intra-party challenge from a Trump-backed candidate. While in Maine, Democrats believe they have their best changes to finally beat incumbent Sen. Susan Collins (R-ME) after repeatedly coming up short.