How did political campaigns get so expensive?

The 2026 midterm elections are fast approaching, and it’s gearing up to be the most expensive election in American history. So how did we get here, where every election feels more expensive than the last? Today on the show, we’re exploring what’s causing the flood of money into our politics. Fact checking by Sierra Juarez . Your Next Listen – Bad economics, smart politics –Over 2,000 episodes in our archive on the NPR App Connect with The Indicator from Planet Money – The Indicator newsletter — a weekly roundup of news, ideas and staff picks. – Instagram , TikTok and YouTube –Find the Planet Money book –Find the Planet Money game, Sell Me A Sasquatch , and other merch at the NPR Shop ! Support public media by subscribing to NPR+ and enjoy perks for over 25 podcasts like this one. This show’s perks include sponsor-free listening. Learn more at plus.npr.org . See pcm.adswizz.com for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. NPR Privacy Policy