The 2026 midterm election cycle could surpass the 2024 presidential cycle to reach a record ad spending for any U.S. election, according to a new report from advertising intelligence firm AdImpact.
This year’s races are expected to reach $11.6 billion in ad spending, which would make it the most expensive cycle ever and eclipse the $11.2 billion spent on ads for the 2024 election between current President Donald Trump and former Vice President Kamala Harris, AdImpact estimates. The new projection represents an increase of $795 million from the previous projection made last year.
The midterm cycle is expected to be more intense than previous cycles, with Republicans controlling both houses of Congress. The 2022 midterm cycle generated $8.9 billion in ad spending, according to AdImpact. If the projection is confirmed, advertising spending in 2026 would be 30% higher than that of the last midterm elections.
“From record races to growing party committee war chests to a competitive landscape that continues to expand, all indicators point to 2026 being the most expensive political advertising cycle in history,” the report reads.
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 source for media companies, with sports, live events and news generating the most spending. Elections, especially those that are hotly contested or held in conflicting states, often generate some of the highest advertising revenue for local broadcast station owners across the country.
According to the report, television remains a leading force in political advertising, accounting for nearly half of the cycle’s total spending and driven almost entirely by state elections.
The states with the highest overall spending are California, Texas, Michigan and Ohio. Michigan, Ohio and Texas all offer competitive Senate elections, while California has a costly gubernatorial race.
AdImpact estimates that as of June 1, political ad spending reached $4 billion, a 46% increase from the same point in the 2024 presidential election cycle.
“Much of this rise is driven by a concentrated set of large, high-dollar competitions that materialized earlier in the cycle than usual,” the report said.
Politicians are also relying more on digital spending on platforms such as Facebook, Google, Snapchat and X, are expected to spend $1.6 billion in this category this cycle, according to AdImpact.
Within electoral categories, the Senate saw a notable increase in projected political spending, which is expected to bring in nearly $3.4 billion, with one of the costliest elections being the Texas Senate primary, according to the report. Republicans hold 53 seats in the US Senate, compared to 45 for Democrats. The two independent senators form a group with the Democrats.
In gubernatorial races, three of the four most expensive contests on record will take place in 2026 in California, New Jersey and Georgia, according to AdImpact.
Even down, election spending is expected to reach record levels this year, surpassing the record set in 2022 of $3.2 billion.
The costliest period of the midterm election cycle is still ahead, according to AdImpact. The highest spending is between August and November, accounting for between 58% and 67% of all political ad spending in the cycle, with October itself accounting for between 28% and 36% of spending in the run-up to Election Day.