# Billions flood US midterm races as dark money hides donors > Political advertising alone is expected to hit $11.6 billion as billionaires, corporations and anonymous donors pour unprecedented sums into the November 3 elections. - Title: Billions flood US midterm races as dark money hides donors - Summary: Political advertising alone is expected to hit $11.6 billion as billionaires, corporations and anonymous donors pour unprecedented sums into the November 3… - Keywords: us elections, midterms 2024, campaign finance, political advertising, super-pacs, dark money, billionaire donors, elon musk, federal election commission, news, world, Billions - Source: RFI — https://rfi.fr/en/international/20261021-billionaires-and-dark-money-fuel-record-spending-on-us-midterms - Read time: 2 min - Topics: us elections, midterms 2024, campaign finance, political advertising, super-pacs, dark money, billionaire donors, elon musk, federal election commission, news, world ## Record spending heads toward eleven point six billion Political advertising for the November third US midterm elections is expected to cost eleven point six billion dollars, exceeding the eight point nine billion spent in twenty twenty-two and the eleven billion in twenty twenty-four. ## Uncertainty drives competitive races higher Vincent Michelot, a specialist in US political history and professor emeritus at Sciences Po Lyon, explains that in highly uncertain elections much more is spent. > In a highly uncertain election, much more is spent. ## Congressional candidates raise billions by June Congressional candidates had raised two point eight billion dollars by the end of June, up from two point four billion four years earlier, according to the Federal Election Commission. ## Super-PACs raise two point five billion dollars Super-PACs, which emerged after two thousand ten court rulings, can accept unlimited contributions from individuals, companies and trade unions. ## Elon Musk leads billionaire donors with three hundred sixty nine million Elon Musk has contributed three hundred sixty nine million dollars since the start of the cycle. ## Billionaire donations raise expectations of influence Vincent Michelot warns that donations of several million dollars at once create inevitable expectations of what comes next. > When you donate a few hundred or a few thousand euros to a campaign in France, you have no hope of influencing the outcome, but when you donate several million in one go, there is inevitably an expectation of what comes next. ## Crypto and tech companies pour two hundred sixty eight million Cryptocurrency, technology and artificial intelligence companies contributed two hundred sixty eight million dollars, notably to super-PACs, representing more than forty percent of reported corporate contributions to these organisations, according to an August study by Public… ## One billion dollars flows through hidden donors A New York Times investigation found that around one billion dollars from donors whose identities were not publicly disclosed had already flowed through the electoral system this year. ## Campaign regulator lacks power to enforce rules The Federal Election Commission has lacked a quorum since April twenty twenty-five.With only two commissioners serving on its six-member panel, it cannot secure the four votes needed to authorise enforcement investigations or impose civil penalties. > There's no sheriff in town anymore. ## Key takeaway US midterm spending is heading for a record $11.6 billion in political advertising, driven by billionaire donors, corporate interests and around one billion dollars in undisclosed dark money, while the campaign finance regulator lacks the votes to enforce rules.