The US midterm elections are on track to be the most expensive in history, driven by massive donations from Elon Musk and the cryptocurrency industry. The election also puts Trump's popularity under scrutiny, alongside issues ranging from the Iran war to the explosive growth of data centres.
In Alaska, the Trump administration's Department of Justice filed a lawsuit last week requesting the state not certify its Senate results if Democrat Mary Peltola wins, arguing that an unaffiliated candidate sharing a name with Republican senator Dan Sullivan threatened the integrity of the vote count. Peltola described the lawsuit as raising "profound constitutional concerns".
The Iowa Senate race between Republican Ashley Hinson and Democrat Josh Turek is something of a case study on Trump's popularity. Hinson has criticised Trump's decision to buy oil from Russia and said a vote for her was not necessarily a vote for the president; she told NBC, “A vote for me is a vote for Iowa,” while Turek says that, if elected, he will push for an end to the Iran war and repeal of Trump's widespread tariffs.
In Texas, Democrat James Talarico is attempting to become the first Democrat elected to the Senate from the state since 1988. His campaign has used concerns about political corruption, while Elon Musk transferred $US75 million and $US83 million in September to a PAC that channelled the money to Republican candidate Ken Paxton. “There is something deeply wrong with a political system that allows one trillionaire to buy his own personal US senator,” Talarico said.
The influence of campaign cash is particularly visible in Ohio, where the crypto industry has spent $US176 million to back allies, including $US68 million to defeat Democrat Sherrod Brown, a former chair of the Senate banking committee and a vocal crypto critic. Ohio's gubernatorial race has been put in the spotlight by an ad from Republican Vivek Ramaswamy featuring the estranged mother of Democrat Amy Acton, who called her daughter a lifelong liar despite having had no contact with her for nearly 50 years. While several prominent Republicans called for the ad to be removed, Trump encouraged Ramaswamy to keep it running, saying it was “hitting pay dirt”. Ramaswamy said the ad's planned run was over.
In the swing state of Michigan, Democrat Abdul El-Sayed has faced anti-Muslim rhetoric from the president, who has called him "Mohamed". Trump recently described El-Sayed as "a nasty guy", adding "he's worse than I am".
In Pennsylvania, Democratic governor Josh Shapiro has changed tack from broadly supporting data centres to imposing new rules on them. His Republican challenger, Stacy Garrity, has accused him of giving away state tax dollars to Amazon. The Brookings Institution says the data-centre backlash could have “momentous ramifications for everyone” and that if several high-profile backers of data centres lose and their opponents win, it could encourage politicians to embrace moratoriums, pauses and audits.
Analysis
Why This Matters
Control of the US Senate rests on several of these tight races, shaping the final two years of Trump's presidency.
The massive spending by Elon Musk and the crypto industry signals a new era of campaign finance.
Voter sentiment on data centre regulation and the Iran war are creating new political divides.
Background
The 2026 United States midterm elections are approaching. The contests are widely regarded as a judgment on President Donald Trump's second term, fought against a backdrop of high inflation and ongoing US military involvement in Iran.
Key Perspectives
President Donald Trump: Called Abdul El-Sayed "a nasty guy" and "Mohamed", encouraged Vivek Ramaswamy to air a controversial ad, and saw the DOJ file a lawsuit in Alaska.
Elon Musk: Poured hundreds of millions into Republican campaigns, leading Democrat James Talarico to accuse him of trying to buy the Texas Senate seat.
Democrat James Talarico: Said the political system is broken and a "trillionaire" should not be able to buy a US senator.
Democrat Mary Peltola: Accused the Trump administration's lawsuit of raising "profound constitutional concerns".
The Brookings Institution: Warned the "techlash" against data centres could encourage moratoriums with "momentous ramifications for everyone".
Republican Vivek Ramaswamy: Defended an ad attacking Amy Acton, which Trump said was "hitting pay dirt", though Ramaswamy later said its run was over.
What to Watch
The outcome of the DOJ's lawsuit in Alaska and whether it impacts voter confidence or certification.
Whether the issue of data centre regulation spreads from Pennsylvania to other states.
The electoral performance of candidates targeted by massive outside spending, such as Sherrod Brown and James Talarico.
Checked
12 claims in this story checked against 1 source: 12 supported.
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- SupportedThe midterms are on track to be the most expensive in US history, with large donations from Elon Musk and the crypto industry contributing to that spending.The Age - Latest News: “which is on track to be the most expensive in US history, thanks to massive donations by the world’s richest man, Elon Musk, and the Trump-friendly crypto industry.”
- SupportedThe midterms put Trump's popularity under scrutiny and include a backlash against data centres.The Age - Latest News: “The explosive growth of data centres, political integrity and the popularity of President Donald Trump himself are under scrutiny in this election cycle”
- SupportedThe Justice Department sued last week, seeking to prevent Alaska from certifying its Senate results if Peltola wins, arguing that two candidates named Dan Sullivan threatened vote-count integrity.The Age - Latest News: “last week filed a lawsuit requesting Alaska not to certify its Senate results if Peltola wins, arguing that having two Dan Sullivans on the ballot threatened the integrity of the vote count.”
- SupportedPeltola said the lawsuit raised “profound constitutional concerns”.The Age - Latest News: “Peltola retorted that the bid raised “profound constitutional concerns”.”
- SupportedHinson told NBC, “A vote for me is a vote for Iowa.”The Age - Latest News: ““A vote for me is a vote for Iowa.””
- SupportedTalarico is trying to become the first Democrat elected to the US Senate from Texas since 1988.The Age - Latest News: “trying to be the first Democrat elected to the US Senate from the conservative state of Texas since 1988”
- SupportedMusk paid $US75 million and $US83 million in September to a PAC, which transferred the money the next day to Paxton’s campaign.The Age - Latest News: “payments of $US75 million ($106 million) on September 9 and $US83 million on September 23 to the Senate Leadership Fund PAC, which were transferred the next day to the campaign of Republican candidate Ken Paxton”
- SupportedTalarico said, “There is something deeply wrong with a political system that allows one trillionaire to buy his own personal US senator.”The Age - Latest News: ““There is something deeply wrong with a political system that allows one trillionaire to buy his own personal US senator.””
- SupportedThe crypto industry spent $US176 million promoting allies, including $US68 million to defeat Brown.The Age - Latest News: “the crypto industry has poured $US176 million into promoting allies in these midterms”
- SupportedRamaswamy's ad featured Acton's estranged mother calling her a lifelong liar, despite having had no contact with her for nearly 50 years.The Age - Latest News: “The ad featured Donna Arthur, Acton’s estranged mother, calling her daughter a lifelong liar despite having had no contact with her for nearly 50 years.”
- SupportedTrump encouraged Ramaswamy to keep the ad running, saying it was “hitting pay dirt”.The Age - Latest News: “But Trump had encouraged Ramaswamy to keep airing the ad, saying it was “hitting pay dirt”.”
- SupportedBrookings said the data-centre backlash could have “momentous ramifications for everyone” and that high-profile backers losing could encourage politicians to pursue moratoriums, pauses and audits.The Age - Latest News: “This so-called “techlash” could have “momentous ramifications for everyone”, the Brookings Institution says. “If several of the high-profile backers of data centres lose and their opponents win, it could encourage politicians to embrace more data centre moratoriums, pauses and audits””