2026 midterm could be the most expensive ever: AdImpact

( NewsNation ) — Midterm ad spending continues to soar toward record highs with less than three weeks until the elections.

Republican control of Congress is at stake this year, and both parties are flooding the airwaves with ads promoting their candidates. AdImpact announced Wednesday that total ad spending and future reservations topped $10 billion so far this cycle, putting it ahead of the final spending numbers for the entire 2020 and 2022 election cycles.

This year’s total spending may also exceed the $11.2 billion spent during the 2024 presidential election cycle. AdImpact previously projected that final ad spending would reach $11.6 billion, potentially making this the most expensive midterm on record.

Texas Senate race ad spending hits $500M

Texas remains one of the most closely watched Senate races.

Democrat James Talarico and his team reported $64 million in donations for the third quarter this year alone, saying it is the most money ever raised in the third quarter by any Senate candidate.

The Texas race has led to $500 million in combined ad spending and future reservations dating back to the primaries, according to AdImpact , with Republican advertisers accounting for over half of that total. It joins the 2024 Ohio Senate race as the only nonpresidential race to surpass that figure.

The Maine Senate race has also seen heavy spending, with over $200 million in ad spending and future reservations reported. That’s almost double the amount spent during the 2020 election cycle.

Musk gave more than $250M to GOP campaign groups

In September alone, more than $1 billion was spent on ads and future reservations, with Republican advertisers accounting for the majority of that spending, according to AdImpact .

Tech trillionaire Elon Musk gave more than a quarter-billion dollars to Republican campaign groups and organizations in the past three months alone.

This brings the Tesla and SpaceX CEO’s total contributions so far to $366 million. A spokesperson for Musk’s America PAC confirmed the numbers to The Hill, which were first reported by The New York Times.

The Hill’s Miranda Nazzaro and Julia Shapero contributed.