Just about every Democrat running in competitive Senate races this year significantly out-raised their GOP challenger in the first quarter, according to an Axios analysis of fundraising data.
Why it matters: Incumbents typically have an advantage when it comes to fundraising. But with Democrats scrapping to protect a slim majority, every dollar counts.
The Senate map is unfavorable for Democrats, with a handful of vulnerable incumbents facing down challengers in purple states.
But the early fundraising advantage is a boost to the party in its uphill climb to keep control of the chamber.
The big picture: In at least six of the most competitive Senate races, Democrats out-raised their GOP opponents.
Five Democratic incumbents raised more money than their GOP opponents. Four of those incumbents more than doubled their challenger's fundraising haul.
One of the most vulnerable Republican incumbents, Sen. Ted Cruz (R-Texas), was out-raised by his Democratic challenger Colin Allred.
And in the open-seat race in Arizona, Rep. Ruben Gallego (D-Az.) nearly doubled the money raised by Republican Kari Lake.
Between the lines: Several wealthy candidates have dumped even more money into their campaigns.
Hovde invested $8 million of his own money. McCormick loaned himself $1 million, and Sheehy $500,000.
David Trone has spent an eye-popping $40 million-plus of his own money running in Maryland— and may not even be the Democratic nominee.
Context: Some Republican challengers, like Moreno in Ohio, faced a contentious primary process, which spread donor money across a number of candidates.
Maryland Republican Larry Hogan raised $3.1 million, but it is unclear who his Democratic counterpart in the race will be.
In Michigan and Florida, Democratic Senate candidates have also out-raised their Republican counterparts — even with Sen. Rick Scott (R-Fla.) as an incumbent.
What they're saying: Sen. Gary Peters (D-Mich.), the chairman of the Democratic Senatorial Campaign Committee (DSCC), told Axios that Democrats have "not only a fundraising advantage — they're right on the issues and they've got a solid track record."
National Republican Senatorial Committee Communication Director Mike Berg told Axios that "Democrat career politicians who have spent decades building donor relationships in the swamp are typically going to out-raise challengers."
DSCC spokesperson Tommy Garcia said, "Battle-tested Senate Democrats' strong fundraising is a testament to the support they have earned from voters and grassroots supporters."
Editor's note: This article, including the chart, has been corrected to note that Ted Cruz raised $6.9 million in the first quarter (not $9.7 million) and trailed Colin Allred. The article and chart have been updated to reflect only fundraising by candidates' principal fundraising committees.