More Than $15.9 Billion Will Be Spent on 2024 Federal Elections: Report

Adjusted for inflation, this year’s political expenditures will constitute the second most expensive election cycle ever.

(Left) Former President Donald Trump speaks during a rally at the Mosack Group warehouse in Mint Hill, N.C., on Sept. 25, 2024. (Right) Vice President Kamala Harris speaks at an event hosted by The Economic Club of Pittsburgh at Carnegie Mellon University in Pittsburgh, on Sept. 25, 2024. Brandon Bell, Jeff Swensen/Getty Images

According to a top watchdog group, the 2024 election cycle is on pace to be the second most expensive event in U.S. political history.

On Oct. 8, OpenSecrets, a nonprofit organization dedicated to covering the role of money in politics, issued a report estimating that more than $15.9 billion will be spent on the year’s federal elections.