Former President Donald Trump and entrepreneur Elon Musk are directing capital toward Republican candidates for the 2026 midterm elections. Trump’s political action committee has spent over $24.9 million on advertising campaigns in Alaska, Georgia, and Ohio.
Elon Musk’s America PAC has contributed approximately $7 million to support Republican voter turnout and advertising initiatives. A significant portion of these funds is focused on the Senate race in Texas, where candidate Ken Paxton is running against Democrat James Talarico.
Recent polling indicates that James Talarico currently holds a narrow lead in the Texas contest. Market participants are observing these campaign investments and shifts in voter sentiment as indicators of potential momentum changes in the upcoming midterm elections.
