The 2026 midterm election cycle could surpass the 2024 presidential cycle and reach record spending on advertising in U.S. elections, according to a new report from advertising intelligence firm AdImpact.
Campaign ad spending this year is expected to reach $11.6 billion, making it the most expensive election cycle in history, surpassing the $11.2 billion spent on ads for the 2024 election between current President Donald Trump and former Vice President Kamala Harris. The new forecast is a $795 million increase over the previous forecast made last year.
The mid-term cycle is expected to be more intense than previous cycles, with Republicans controlling both houses of Congress. Ad spending reached $8.9 billion in the 2022 mid-cycle, according to AdImpact. If this prediction holds true, advertising spending in 2026 will be 30% higher than in the previous midterm elections.
“From record-setting races and soaring party committee war chests to an ever-expanding competitive environment, all indicators point to 2026 being the most expensive political advertising cycle in history,” the report said.
AdImpact said it expects $5.6 billion to be spent on broadcast, $1.4 billion on cable, $2.6 billion on connected TV and $1.68 billion on digital.
Advertising remains a key revenue driver for media companies, with sports, live events, and news attracting the most spending. Elections, especially those in battleground and battleground states, often generate the highest advertising revenue for local station owners across the country.
Broadcast television remains one of the biggest forces in political advertising, accounting for nearly half of total cycle spending and driven almost entirely by state elections, the report said.
States spending the most overall include California, Texas, Michigan, and Ohio. Michigan, Ohio, and Texas all have highly competitive Senate races, and California’s gubernatorial race is an expensive race.
AdImpact estimates that political ad spending reached $4 billion through June 1, a 46% increase compared to the same point in the 2024 presidential election cycle.
“Much of the surge has been driven by a series of intensive high-profile, high-prize contests that materialized earlier in the cycle than in previous years,” the report said.
Politicians are also increasingly relying on digital spending across platforms such as: facebook, google, snapchat Company X is expected to spend $1.6 billion in that category during the cycle, according to AdImpact.
Among election categories, the Senate has seen a notable increase in projected political spending, with nearly $3.4 billion expected to be raised, with one of the most expensive races being the Texas Senate primary, the report said. Republicans hold 53 seats in the U.S. Senate, while Democrats hold 45. The two independents in the Senate are caucusing with Democrats.
Three of the four most expensive gubernatorial races in history will be held in California, New Jersey and Georgia in 2026, according to AdImpact.
Even no-vote spending is expected to reach record levels this year, surpassing the $3.2 billion set in 2022.
The most expensive part of the midterm election cycle is yet to come, according to AdImpact. Spending is highest from August to November, accounting for 58% to 67% of all political ad spending during that period, with October itself, the month leading up to Election Day, accounting for 28% to 36% of spending.
