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Every election cycle since 2010, we have published profiles of some of the many outside groups trying to influence who gets elected to Congress and the White House. Today, we’re launching our latest Players Guide with write-ups of eight of the biggest spenders so far for the 2026 midterms.

Photo by Oleksandr / stock.adobe.com

Each profile has information about the individuals who run the group, the people funding the group, the group’s political leanings and motivations, and how the group is spending the millions it has raised. If the group has been around for a while, we note its spending during the prior election cycle for comparison.

During the last midterm cycle, outside groups collectively spent $2 billion on independent expenditures, which are advertisements and other communications that expressly advocate for or against candidates for office, according to OpenSecrets, a nonprofit that tracks money in politics. The total was double that amount for the 2024 presidential cycle.

The eight groups we’re starting with this time include the Senate Majority PAC, which is trying to help Democrats retake control of the Senate, and the Congressional Leadership Fund, which is working to keep Republicans running the House of Representatives. We also highlighted Fairshake, a pro-cryptocurrency super PAC that backs or opposes candidates based on whether they appear to be for or against policies favorable to the digital currency industry.

Come back throughout the general election for details about other key players, as we’ll be publishing more profiles over the next three months. Some of the featured groups will be ones we’ve written about before — because they continue to spend large amounts of money — but we’ll be writing about a few of the newly formed groups as well.

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Political leanings: Conservative/Republican

2024 total spending: $296.6 million

The Senate Leadership Fund, or SLF PAC, is a Republican super PAC that was established in 2015 by allies of Sen. Mitch McConnell, who was Senate majority leader at the time.

The group, now connected to Republican Senate Majority Leader John Thune, says its mission is to “support strong Republican candidates in competitive states, leveraging best-in-class campaign tactics and standards to aggressively counter the Democratic machine.” It is “solely dedicated” to “protecting and expanding the Republican Senate Majority.” Its executive director is Alex Latcham, a former deputy assistant to President Donald Trump and former director of the White House Office of Public Liaison.

As a super PAC, SLF PAC can accept unlimited contributions, but it must disclose its donors and cannot coordinate its spending with candidate campaigns.

In early April, the group revealed to the New York Times that in order to maintain GOP control of the Senate, it plans to spend around $350 million in 2026 on television, digital and streaming ads, as well as mail and other operations to influence voter turnout. The Times reported that the super PAC is prioritizing defending five Republican-held seats by spending $79 million in Ohio, $71 million in North Carolina, $42 million in Maine, $29 million in Iowa and $15 million in Alaska. In addition, the group is looking to flip three Democratic seats by spending $45 million in Michigan, $44 million in Georgia and $17 million in New Hampshire.

Ads in those races are set to start airing in September, the Times said. Democrats need to gain a net of four seats to regain the majority in the Senate (including the two independent senators who caucus with the Democrats).

As of June 30, the Senate Leadership Fund had raised a total of $253.7 million for the 2026 midterms, according to its most recent quarterly financial report to the Federal Election Commission. At that point, it still had $238.6 million in cash on hand – more than double the amount it had at the same point in 2024, according to a press release.

Some of SLF PAC’s largest individual donors for this election cycle include Miriam Adelson, a physician and businesswoman; Paul Elliott Singer, a hedge fund manager; and Elon Musk, the wealthiest person in the world. It has also received at least $46 million, so far, from an affiliated nonprofit, One Nation, a so-called “dark money” group that, as a registered 501(c)(4) organization, does not have to disclose its donors. One Nation is led by Steven Law, who headed the Senate Leadership Fund until he stepped down in 2024.

During the 2024 election cycle, SLF PAC spent $211 million on independent expenditures — the third most of any super PAC (only exceeded by Make America Great Again Inc. and WinSenate PAC), according to an analysis of campaign finance data by OpenSecrets. The FEC defines independent expenditures as spending on communications that “expressly advocate” for the election or defeat of a specific candidate.

OpenSecrets said roughly 71% of that money was spent backing candidates who won their races or opposing candidates who lost. About 30% of SLF PAC’s independent expenditure dollars in 2024 were spent opposing the reelection of then-Sen. Sherrod Brown of Ohio, a Democrat, and supporting his Republican challenger, Bernie Moreno. Brown had been a three-term senator before being ousted by Moreno.

SLP PAC is planning to spend big in Ohio again in 2026, as Brown is now challenging Republican Sen. Jon Husted, who was appointed to fill the seat vacated in early 2025 by Vice President JD Vance.

FactCheck.org Undergraduate Fellow Christine Sung contributed to this article.

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Political leanings: Democratic

2024 total spending: $391.2 million

Senate Majority PAC, formally known as SMP, is a super PAC that describes its “one mission” as helping Democrats “win Senate races.”

It’s headed by J.B. Poersch, a former executive director of the Democratic Senatorial Campaign Committee. Poersch was named the super PAC’s president in early 2017. Other senior staff include Amanda Ach, digital director, and Lauren French, communications director. Ach previously worked for the Democratic Congressional Campaign Committee, and French was recently a senior adviser at the State Department during the Biden administration.

As a super PAC, Senate Majority PAC is allowed to raise and spend unlimited amounts of money, but it must report expenditures and all donations of more than $200 to the Federal Election Commission. The group cannot make contributions to candidate committees and cannot coordinate independent expenditures with candidate campaigns.

In a July 10 press release, SMP announced that along with Majority Forward, an affiliated nonprofit group, it raised $147 million in the second quarter of 2026, “their best second-quarter fundraising ever.” The groups have now collected a combined $326 million since the beginning of the election cycle, and SMP had about $126 million in cash on hand at the end of June, the press release said.

Unlike SMP, which files quarterly financial reports with the FEC, Majority Forward, a 501(c)(4) organization, is only required to file an annual report with the IRS at the end of the group’s fiscal year. We don’t know who is donating to Majority Forward because the group is not required to disclose its donors. However, according to FEC data through March, Senate Majority PAC’s largest contributors include Majority Forward, the George Soros-funded Democracy PAC and retired media executive Fred Eychaner.

SMP previously announced that it would run eight-figure TV and digital ad campaigns in the fall supporting or opposing Senate candidates in Alaska, Georgia, Iowa, Maine, Michigan, New Hampshire, North Carolina and Ohio. We’ve already written about two of Majority Forward’s TV ads that attack the incumbent in Maine, Republican Sen. Susan Collins.

During the 2024 elections, SMP spent about $391.2 million and more than $325 million of that was contributed to other political committees, including WinSenate PAC, an affiliated super PAC that also worked to elect Democrats to the Senate.

Senior Writer D’Angelo Gore contributed to this article.

Editor’s note: FactCheck.org does not accept advertising. We rely on grants and individual donations from people like you. Please consider a donation. Credit card donations may be made through our “Donate” page. If you prefer to give by check, send to: FactCheck.org, Annenberg Public Policy Center, P.O. Box 58100, Philadelphia, PA 19102. 

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As President Trump struggles to extricate the United States from the war in Iran, his promises to protesters in the country have fallen by the wayside.

Political leanings: Pro-Israel

2024 Spending: $61.4 million

United Democracy Project is a nonpartisan super PAC created to advocate for political organizations and candidates that support the United States’ partnership with Israel. The super PAC “works to help elect candidates that share our vision and will be strong supporters of the U.S.-Israel relationship in Congress,” according to its website.

The American Israel Public Affairs Committee, a lobbying group established in the 1950s, historically refused to contribute funds to individual candidates’ campaigns. However, AIPAC announced its plans to launch a political action committee, or PAC, and a super PAC ahead of the 2022 election cycle in December 2021.

AIPAC PAC, which was created on Dec. 15, 2021, has become the biggest pro-Israel PAC in the U.S., ahead of the Joint Action Committee for Public Affairs and JStreetPAC. United Democracy Project, AIPAC’s super PAC, was established on Jan. 3, 2022.

As a political action committee, AIPAC PAC is limited to donating no more than $5,000 per election to a candidate’s campaign committee, according to federal contribution limits for the 2026 elections. As a super PAC, United Democracy Project cannot donate to candidates directly, but it can raise and spend unlimited amounts of money expressly advocating for or against federal candidates — spending that the Federal Election Commission defines as “independent expenditures.” Both the PAC and super PAC are required to disclose their donors in reports to the FEC.

Through June, United Democracy Project raised about $104 million during the 2026 cycle, according to FEC records. That’s already more than the $87.1 million it collected during the 2024 cycle, in which it spent around $61.4 million, including $34.8 million on independent expenditures promoting or opposing Democratic House candidates.

The super PAC’s largest contributors for 2026 include Paul Singer, the founder and co-CEO of Elliott Management; portfolio manager Blair Frank; businessman Marc Rowan; and media proprietor and investor Haim Saban. It has spent about $52.5 million, and, as of June 30, more than $27.9 million of it was on independent expenditures.

United Democracy Project has focused heavily on House primary races, spending about $5 million supporting Melissa Conyears-Ervin, who lost the Democratic primary in Illinois’ 7th Congressional District seat on March 17; more than $1 million supporting Adrian Boafo, who won the Democratic primary in Maryland’s 5th District on June 23; and over $3 million opposing Rep. Thomas Massie in the Republican primary in Kentucky’s 4th District, which he lost to Ed Gallrein on May 19. The super PAC also spent nearly $500,000 supporting Gallrein.

Massie’s and Gallrein’s primary was the most expensive House primary in history, according to Politico, which reported that over $9 million was spent by pro-Israel interest groups alone. In the article, United Democracy Project spokesperson Patrick Dorton was quoted as calling Massie “the most anti-Israel Republican in the House.”

The super PAC also spent over $2 million opposing Tom Malinowski, who lost a special Democratic primary in New Jersey’s 11th District on Feb. 5. United Democracy Project’s involvement in the primary, which was won by progressive candidate Analilia Mejia, frustrated many centrist Democrats, Politico reported.

On June 23, Politico reported that, to hide its involvement in certain races, “United Democracy Project has shielded more than 40 percent of the money it has spent across primaries in both parties so far for the 2026 cycle through pop-up and pass-through PACs,” according to the publication’s analysis.

FactCheck.org Undergraduate Fellow James Constan contributed to this article. 

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Political leanings: Pro-cryptocurrency

2024 Spending: $195.8 million

Fairshake, its website says, is a super PAC that “supports candidates committed to securing the United States as the home to innovators building the next generation of the internet.” Generally, it supports politicians who back policies favorable to the cryptocurrency industry.

The group registered with the Federal Election Commission in 2023, and it is financially supported by some of the most influential companies and executives in the digital currency sector.

FEC records identify Brandon Philipczyk as Fairshake’s treasurer and Josh Vlasto is the group’s spokesman. Philipczyk has worked on various campaigns for Democratic candidates, including former President Barack Obama’s 2012 reelection campaign and Hillary Clinton’s 2016 campaign for president. Vlasto previously served as press secretary for Sen. Chuck Schumer and former New York Gov. Andrew M. Cuomo, both Democrats.

As a super PAC, Fairshake can receive unlimited financial contributions from donors, who must be disclosed periodically in reports to the FEC. As of June 30, it had received almost $137 million in the 2026 election cycle and still had about $127 million on hand, according to its latest FEC filing in July.

Its largest contributors include Coinbase, a company that operates a cryptocurrency exchange; Ripple Labs, which specializes in a blockchain technology used to make digital payments; and AH Capital Management, also known as Andreessen Horowitz, or a16z, a venture capital firm. Marc Andreessen and Ben Horowitz, the co-founders of Andreessen Horowitz, remain two of the super PAC’s biggest individual donors.

The super PAC has already spent roughly $13.3 million this election cycle on independent expenditures, which are advertisements and other communications that expressly advocate for or against candidates for office. In February and March, it opposed a trio of Illinois Democrats in congressional primary races, including the state Lt. Gov. Juliana Stratton, who won the Democratic nomination in the Illinois Senate race; state Rep. La Shawn Ford, who won the Democratic nomination for the state’s 7th Congressional District seat; and state Sen. Robert Peters, who failed to win the Democratic nomination for the state’s 2nd District seat.

Last year, Ford and Peters voted for a 2025 state law that put in place new rules for the digital assets industry. Meanwhile, one of Stratton’s primary opponents, Rep. Raja Krishnamoorthi, may have been seen as more of an industry ally, since he had cast votes for federal legislation described as “very pro-crypto” by a nonprofit called the Stand With Crypto Alliance.

For the 2026 midterms, Fairshake has also contributed at least $51 million to two affiliated super PACs, Defend American Jobs and Protect Progress, which have spent tens of millions of dollars supporting certain House and Senate candidates.

During the 2024 elections, Fairshake spent about $195.8 million in total. It donated more than $86 million to Defend American Jobs and Protect Progress. It also put nearly $40.7 million into independent expenditures supporting or opposing candidates. According to the website OpenSecrets, which tracks campaign spending, Fairshake spent about $14 million for Democrats, about $13.5 million against Democrats and roughly $13.1 million for Republicans.

FactCheck.org Undergraduate Fellow Angela Lin contributed to this article.

Editor’s note: FactCheck.org does not accept advertising. We rely on grants and individual donations from people like you. Please consider a donation. Credit card donations may be made through our “Donate” page. If you prefer to give by check, send to: FactCheck.org, Annenberg Public Policy Center, P.O. Box 58100, Philadelphia, PA 19102. 

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Political leanings: Democratic

2024 total spending: $256 million

The House Majority PAC, or HMP, as it is formally known, was created in April 2011 by Alixandria Lapp, a former Democratic Congressional Campaign Committee official. It was one of several political action committees formed by Democrats in response to the heavy spending by conservative organizations in the 2010 midterm elections, when Republicans won the House.

House Majority PAC says it is “solely focused on electing House Democrats, including protecting our most vulnerable incumbents and boosting our most promising challenger and open seat candidates.” Abby Curran Horrell, a former chief of staff for Rep. Ann McLane Kuster, became HMP’s executive director in April 2019. Mike Smith, a veteran political strategist, has been its president since January 2023, after Lapp stepped down. 

As a Carey committee, also called a hybrid PAC, the House Majority PAC can act as both a traditional PAC, giving money directly to candidates’ committees, and a super PAC, making independent expenditures not coordinated with candidates and accepting donations of any size from individuals, labor unions and corporations. It must disclose those donations and expenditures in reports to the Federal Election Commission.

HMP reported receiving roughly $123.6 million for the 2026 election cycle as of June 30. A significant portion of that money came from House Majority Forward, an affiliated nonprofit organization that says it’s focused on “promoting economic growth and opportunity, social justice, environmental stewardship, and democracy.” Other large donors to the PAC include Connie Ballmer, co-founder of investment company the Ballmer Group; George M. Marcus, the billionaire founder of the Marcus & Millichap real estate firm; and philanthropist and retired media owner Fred Eychaner, who is a Democratic megadonor.

HMP has said it may spend more than it has raised thus far, as it has placed nearly $284 million in TV and digital ad reservations for the 2026 midterms in about 70 media markets, according to a June announcement. “Nearly 80% of these reservations are in offensive districts—underscoring HMP’s commitment to aggressively expanding the House battlefield and putting more seats in play than ever before,” the PAC said in a press release.

FEC records show HMP already spent about $961,000 in the fall of 2025 trying to influence the special election in Tennessee’s 7th Congressional District. But Republican Matthew Van Epps, a military veteran, ended up defeating Democratic state Rep. Aftyn Behn.

In the 2024 election cycle, HMP raised about $260.5 million and spent the vast majority — $195.7 million — on independent expenditures, which are advertisements that expressly advocate for the election or defeat of a federal candidate. The PAC also contributed $530,625 directly to federal candidates.

Senior Writer D’Angelo Gore contributed to this article.

Editor’s note: FactCheck.org does not accept advertising. We rely on grants and individual donations from people like you. Please consider a donation. Credit card donations may be made through our “Donate” page. If you prefer to give by check, send to: FactCheck.org, Annenberg Public Policy Center, P.O. Box 58100, Philadelphia, PA 19102. 

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Political leanings: Republican

2024 total spending: $242.6 million

The Congressional Leadership Fund’s purpose is to maintain and expand the slim Republican majority in the House of Representatives. The group was formed in October 2011 as the conservative counter to the liberal House Majority PAC and is endorsed by House Republican leadership.

CLF is what’s known as a hybrid PAC or Carey committee, meaning it “has the ability to operate both as a traditional PAC, contributing funds to a candidate’s committee, and as a super PAC, which makes independent expenditures,” according to OpenSecrets, a nonpartisan organization that tracks money in politics. Such organizations must have separate bank accounts for those purposes.

Chris Winkelman is the CLF’s president, as well as the president of its sister 501(c)(4), the American Action Network. Winkelman is a lawyer who previously served as general counsel for the National Republican Congressional Committee and was the NRCC’s executive director during the 2024 election cycle.

As of June 30, the CLF had raised more than $163 million in the 2026 election cycle and had almost $142 million in cash-on-hand, Federal Election Commission records show. “This is the highest cash-on-hand ever recorded at this point in the cycle for CLF,” the PAC said in a July 15 press release.

At least $44 million of the money it has received for 2026 came from the American Action Network. Meanwhile, major individual donors include Miriam Adelson, a physician and businesswoman; Elon Musk, the CEO of Tesla and SpaceX; Kenneth Griffin, the CEO of the investment firm Citadel; Paul Singer, founder of the hedge fund Elliott Investment Management; and Commerce Secretary Howard Lutnick. 

As of June 24, the CLF had announced $175 million in ad reservations for the fall. It said the campaign will span 41 local markets across the country and include ads airing on broadcast, cable, streaming and digital platforms.

The PAC already spent more than $219,000 on direct mail or text messages trying to ensure that Republican Rep. David Valadao keeps his seat in California’s 22nd Congressional District, which was redrawn to favor Democrats after California voters approved Proposition 50 in November. Valadao and Randy Villegas, a progressive Democrat, were the top two vote-getters in the June 2 primary and will face each other in the general election.

Democrats need to gain a net of at least three seats to win a majority in the House.

The CLF spent more than $7 million helping Valadao hold on to his seat in 2024, when he was facing Democrat Rudy Salas, who lost. In total, the PAC spent about $217 million that election cycle on independent expenditures advocating for or against congressional candidates.

Senior Writer D’Angelo Gore contributed to this article.

Editor’s note: FactCheck.org does not accept advertising. We rely on grants and individual donations from people like you. Please consider a donation. Credit card donations may be made through our “Donate” page. If you prefer to give by check, send to: FactCheck.org, Annenberg Public Policy Center, P.O. Box 58100, Philadelphia, PA 19102. 

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Political leanings: Conservative

2024 total spending: $91.3 million

Restoration of America PAC, previously known as Restoration PAC, was founded in January 2015 as a super PAC. 

According to its website, Restoration of America is an “umbrella name for a family of conservative organizations” that will “defend our nation by electing like-minded leaders and by creating organizations and campaigns that promote fully transparent elections, economic freedom, limited government, military superiority, secure borders, rule of law, and the sanctity of life.” Besides the super PAC, the collective includes two 501(c)(4) social welfare organizations, Restoration of America and Voter Reference Foundation, and a 501(c)(3) nonprofit, Restoration of America Foundation.

The super PAC describes itself as a committee that helps conservative candidates “win the toughest battles in America,” and says its advertisements spread the message of “restoring America’s greatness” and “defeating the woke Left.” 

Doug Truax is the Founder and CEO of the Restoration of America political organization and its super PAC. Truax is a graduate of West Point and an Army veteran. In 2014, he ran in the Republican primary for the U.S. Senate seat for Illinois, but lost to then state Sen. Jim Oberweis, who was defeated by Democratic Sen. Dick Durbin in the general election.

As a super PAC, Restoration of America PAC can receive unlimited contributions from individuals, corporations, political action committees and other sources. It’s also required to periodically report those donations to the Federal Election Commission.  

In the 2024 election cycle, it raised and spent more than $91 million, including nearly $43 million on independent expenditures, which are communications, such as TV or newspaper ads, that expressly advocate for or against candidates. The majority of its independent-expenditure spending – more than $34 million – was against then-Vice President Kamala Harris, a Democrat, who was campaigning to become president.

Richard Uihlein, the billionaire CEO of the shipping and industrial supplies company Uline, is the super PAC’s largest donor. FEC records show the Republican megadonor contributed more than $80 million to the super PAC for the 2024 cycle, and so far, he has already contributed over $ 57 million from January 2025 to June 2026. Restoration of America PAC reported receiving almost $60.8 million in total contributions as of June 30.

Much of its spending during the 2026 cycle has been contributions to other conservative groups, including American Principles Project PAC, Citizens for Free Enterprise and Americas PAC. But the super PAC did spend over $1.6 million on TV ads last fall, supporting Republican Nate Morris’ U.S. Senate candidacy in Kentucky. 

Morris later suspended his campaign in May — at President Donald Trump’s request — and endorsed Rep. Andy Barr for the Republican nomination in the Senate race. Trump then nominated Morris in July to serve as the U.S. ambassador to Colombia.

FactCheck.org Undergraduate Fellow Justine Weng contributed to this article. 

Editor’s note: FactCheck.org does not accept advertising. We rely on grants and individual donations from people like you. Please consider a donation. Credit card donations may be made through our “Donate” page. If you prefer to give by check, send to: FactCheck.org, Annenberg Public Policy Center, P.O. Box 58100, Philadelphia, PA 19102. 

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Political leanings: Democratic

2024 spending: $82 million, combined

Democracy PAC and Democracy PAC II are liberal super PACs created by billionaire George Soros to fund political organizations that help elect Democrats.

Michael Vachon, who has been an adviser, spokesperson and chief of staff for Soros, is the treasurer of Democracy PAC, which was created in January 2019, and Democracy PAC II, which was formed in July 2021. As super PACs, both can accept unlimited donations.

Since it launched, Democracy PAC has been solely funded by Soros or companies or organizations he created. As of June 30, the super PAC had received more than $102 million for the 2026 election cycle, according to its most recent financial report to the Federal Election Commission. About half of its money came from Geosor Corp., a private investment company that Soros has long owned. The other half came from the Fund for Policy Reform, a nonprofit that Soros founded as part of his Open Society Foundations, which describes itself as “the world’s largest private funder of independent groups working for rights, equity, and justice.”

The board chairman of the Open Society Foundations is Alex Soros, one of George’s sons, who was chosen by his father in 2023 to take over his philanthropic and political operations. The New York Post reported in June that the Soros network was on pace to surpass its previous donation record of $128 million during the 2022 election cycle.

In the 2026 cycle, Democracy PAC, according to FEC records, has so far used more than $40 million of its funding to make large contributions to other Democratic-aligned groups, including Senate Majority PAC, Strategic Victory Fund IE PAC, J Street Action Fund and AB PAC, which is also known as American Bridge 21st Century. Democracy PAC has also contributed millions to several committees working to elect Democrats at the state level.

Meanwhile, Democracy PAC II had both received and donated about $1.6 million as of the end of June, FEC records show. But it had more than $121 million cash on hand, money left over from a $175 million donation that George Soros made to his secondary super PAC during the 2022 election cycle.

During the 2024 election cycle, Democracy PAC gave more than $67 million to other groups, and Democracy PAC II distributed an additional $9.6 million.

Senior Writer D’Angelo Gore contributed to this article. 

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