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“Democrats wrested control of both the Senate and the House in the 2026 U.S. midterm elections, despite candidates and lobbying groups spending around $12 billion—a result showing that huge sums of money did not guarantee victory. Elon Musk was the largest individual contributor, pouring about $445 million into supporting Republicans. He also spent more than $200 million in Texas to back Ken Paxton, who lost to Democrat James Talarico. Other Republican candidates, including Jon Husted and Rich Jackson, also lost despite spending hundreds of millions of dollars, while Democrats, for their part, received substantial funding from wealthy donors. The 2026 elections are expected to be the most expensive in history.”
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