October Political Ad Surge Sets Records.

Political advertising has crossed the $10 billion mark in aired spending for the 2025-26 election cycle, a milestone that underscores the extraordinary amount of money flowing into advertising as the midterm elections approach. And with Election Day still ahead, the spending surge is setting records not only in congressional contests but also in statewide races.

AdImpact reports that $10.12 billion in political advertising has aired through Oct. 24 vs. $7.04 billion at the same point in the 2021-22 cycle. That’s an increase of $3.08 billion, or nearly 44%. The increase makes this the second-largest political advertising cycle on record, trailing only what was spent during the 2023-24 presidential cycle.

It also means the current cycle has already surpassed the final spending totals for the prior two midterm cycles of 2019-20 ($9 billion) and 2021-22 ($8.9 billion). With more political advertising still scheduled ahead of Election Day, the latest numbers highlight the unprecedented scale of spending for a midterm election cycle.

The figures represent advertising that has already aired, not future reservations. AdImpact’s cycle-to-date comparisons also include spending from the preceding calendar year, meaning the totals are not strictly comparisons of 2026 and 2022 revenue.

The final weeks before Election Day have brought an extraordinary acceleration in political advertising demand.

AdImpact previously reported that $1.6 billion in political advertising aired during the first 16 days of October alone, already exceeding the $1.58 billion spent during September. But the pace of spending has only grown. By Saturday (Oct. 24), that figure had reached $10.12 billion — an additional $1.1 billion in just eight days.

For broadcasters, the figures illustrate how heavily political advertising is concentrated in the final stretch of the election cycle, with campaigns, political parties and outside groups competing for advertising inventory across markets.

The size of the political advertising market is also evident in the number of individual contests reaching previously unprecedented spending levels. For the first time, AdImpact says two nonpresidential elections in the same cycle have surpassed $500 million in combined advertising spending and future reservations.

The Texas Senate contest has reached $557.6 million, surpassing the $542.8 million spent in Ohio’s 2024 Senate race to become the most expensive nonpresidential election on record. Ohio’s 2026 special Senate election has also crossed the threshold, reaching $500.1 million.

Four elections from the current cycle also now rank among the 10 most expensive nonpresidential races ever tracked by AdImpact. In addition to Texas and Ohio, Michigan’s Senate race has reached $347.5 million, while California’s gubernatorial contest has attracted approximately $349 million.

October’s spending figures show how heavily Senate advertising continues to drive the market. The Ohio Senate race leads with $221 million in October spending and reservations, followed by Texas ($188 million), Iowa ($123 million) and Michigan ($121 million).

But the spending is not limited to the largest Senate battlegrounds. Kansas, for example, has seen its Senate general-election advertising climb to $84.5 million in spending and reservations, an increase of 3,332% over the state’s 2022 Senate contest. More than $65 million of that total is concentrated in October.

While congressional contests have attracted much of the attention, gubernatorial elections are also generating record advertising expenditures. AdImpact says gubernatorial advertising has reached $2.4 billion during the 2025-26 cycle, which is up a third vs. what was spent during the 2021-22 cycle. Both cycles feature 38 gubernatorial elections, excluding territorial contests.

The California governor’s race has become the most expensive gubernatorial election on record, with approximately $349 million in spending and reservations. Georgia follows at $297 million, while Ohio’s gubernatorial contest has reached $202.8 million. For local broadcasters, the combination of federal and statewide contests means political advertising dollars are flowing into a broader mix of markets and elections.

With the 2025-26 cycle already exceeding $10 billion in aired spending and major races continuing to attract substantial advertising reservations, the final days before Election Day are adding to what has become an extraordinary midterm advertising cycle. AdImpact continues to forecast a record $11.6 billion in total spending for the 2025-26 cycle, including $273 million for radio.