The surest sign that the election is fast approaching is the volume of donors and organizations who have begun to open their checkbooks. Yet despite the record-tying field of ballot questions going before voters, the money changing hands has not quite soared all the way up into the stratosphere — at least so far.

Campaigns supporting or opposing the nine measures on the November 3 ballot raised more than $18 million through the end of August, the most recent deadline to submit financial data to state regulators. Including in-kind donations, or work performed directly for a campaign in lieu of money changing hands, the total value rises to more than $21 million.

It’s a massive number, one that reflects the urgent stakes proponents and opponents attached to the ballot-box fights. With two months left until Election Day, the ongoing spending for and against nine different measures might well surpass the record for a single cycle set four years ago.

Yet campaigns so far have only raised about three-quarters as much as their counterparts did through the same point in the calendar in 2022 — an election that featured only four questions on the ballot.

The latest batch of financial data fills in a gap that stretched for most of the year: Under state law, ballot question campaigns do not need to reveal any new information about their fundraising or spending from the beginning of an even-numbered year until 60 days before the election, a blackout period that lawmakers want to change.

Some of the political battle lines are now clearer. Unions are lining up en masse against a business-backed effort to curb state tax collections. Recreational marijuana retailers have coalesced against an attempt to recriminalize the industry. And reform crusaders are willing to put big dollars behind separate but thematically linked proposals to reshape elections and government transparency.

Committees have already spent more than $13.7 million advocating for or against the nine questions on the ballot. Other groups burned additional cash on proposals the state’s highest court tossed from contention earlier in the year, including an attempt to revive rent control and a push to reduce the state’s income tax rate.

More Context

• National dark money anti-pot group bankrolling efforts to ban recreational marijuana in Mass., Maine (January 2026)
• Odd bedfellows: Progressive critics join Democratic, Republican party bosses to oppose election reform ballot question (August 2026)