2025 Election Year Packs a Punch
Typically, the year following a presidential election can be seen as a quieter period for political campaigns, but it seems 2025 is anything but average.
This year has seen intense gubernatorial contests in New Jersey and Virginia, not to mention the high-profile New York mayoral race grabbing headlines. Plus, there’s the Proposition 50 ballot initiative in California, where President Trump finds himself entangled in a fierce struggle between Republicans and Democrats over congressional districting. So, it’s clear—2025 is bustling with political activity.
With all of this in play, a significant amount of money is being funneled into various campaigns.
As of early October, Rep. Mikie Sherrill, the Democratic candidate for governor in New Jersey, raised approximately $17.5 million. His Republican competitor, Jack Ciattarelli, isn’t far behind with about $16.5 million raised. Interestingly, Sherrill had already spent around $11 million, while Ciattarelli has spent nearly $13 million in their bid for the governorship.
Key Races to Keep an Eye On
Shifting gears to Virginia, former Democratic gubernatorial candidate Abigail Spanberger managed to rake in close to $12 million just this past October. Meanwhile, Lt. Gov. Winsome Earl Sears brought in about $9.5 million within that same timeframe.
In the competitive landscape of New York City, which has its own fundraising and spending limits, Democratic candidate Zoran Mamdani has amassed nearly $17 million in both public and private donations. Former Governor Andrew Cuomo is running as an independent, with $12.5 million raised, while Republican Curtis Sliwa has collected around $6 million.
These figures, of course, don’t capture the tens of millions spent by super PACs and external groups across all three races.
Meanwhile, the Proposition 50 battle underway in California—the most populated state—has intensified. The Democratic and Republican factions are engaged in a significant fight to regain power over congressional redistricting from a bipartisan commission. As of last month, expenditures in this initiative have hit an astounding $140 million, with proponents of Prop. 50 raising nearly $100 million, which far exceeds the spending by opponents.
