How US midterms have cost a record $12bn as cost of living soars

The US midterm elections are on track to be the most expensive for candidates and political donors in history. According to OpenSecrets, a research group that tracks money in US politics, close to a record $12bn has been spent by candidates and outside political groups on campaigning.The world’s richest man, Elon Musk alone has given $445 million to the Republicans, according to campaign finance records.Recommended Stories list of 3 itemslist 1 of 3Is money ruining US elections?list 2 of 3Tracking the money: The biggest donors in the 2026 US midterm electionslist 3 of 3Hackers target US campaign finance system days before midterm electionsend of listCritics have questioned the huge sums of money being spent to sway voting during an election cycle in which the cost of living and affordability have been the key issues in most campaign agendas.They argue that campaign spending policy gives wealthy donors, corporations and special interest groups outsized influence over candidate and policy selection.Why has so much been spent on these elections?US elections are funded in two ways. Firstly, candidates can directly raise money for their campaigns. In the lead-up to these midterms, Democ...