Political ad spending for the 2025-2026 midterm season is projected to reach $10.8 billion, making it the most expensive midterm cycle in history, surpassing the 2021-2022 spending of $8.9 billion. The race to control Congress remains close, with significant spending expected in key battleground states to determine majority control.

Connected TV (CTV) spending is set to surge to $2.5 billion, growing by 2% and becoming the fastest-growing media type for political campaigns. Broadcast television continues to hold the largest share of spending at 49%, while local cable and social media spending are expected to decline slightly.

California, Michigan, Georgia, and North Carolina are expected to see the most spending this cycle due to competitive races. Senate races are projected to see $2.8 billion in advertising, while House races are expected to surpass $2 billion for the first time as Republicans aim to maintain their majority.

The 2025 midterm season has seen a surge in early spending, reaching roughly $900 million by August 26. This surge in spending is attributed to a highly charged election cycle, with local elections also receiving significant national attention and big spending, such as the New York City mayoral race.

Read more at CNBC: Political ad spending expected to hit new record in midterms