US midterm elections set record with $11.9 billion in political spending

US midterm elections set a new spending record with $11.9 billion invested in political advertising, the highest amount in US history, according to campaign finance trackers. The figure marks a 26 percent increase from the 2022 congressional elections, with Democratic candidates raising $2.2 billion in direct donations compared to $1.4 billion for Republicans. Forty major donors contributed $2.4 billion, with Republican-aligned backers outspending Democrats three-to-one. Elon Musk was the largest individual donor with $483 million to Republicans, while George Soros led Democratic contributions at $102 million. Super PACs played a major role, though critics warn of increasing "dark money" and influence, despite Democratic victories suggesting money does not guarantee electoral success.