Democrats' 2028 presidential race is going fast and furious

• Several Democrats told Axios they're preparing for multiple candidates to formally jump in the race even before the midterm elections.
• Democrats are stashing millions of dollars, quietly hiring presidential-level campaign staff, fine-tuning potential stump speeches, sitting for glossy profiles, trying to grow their social media followings, and visiting early primary states like Iowa, New Hampshire, and South Carolina.

A dozen Democrats have already visited or have plans to visit an early primary state this year:

• The governors: Andy Beshear of Kentucky, Gavin Newsom of California, Tim Walz of Minnesota, Wes Moore of Maryland, and JB Pritzker of Illinois.
• The senators: Mark Kelly of Arizona, Amy Klobuchar of Minnesota, Ruben Gallego of Arizona, and Bernie Sanders of Vermont.
• Other Democrats: Rep. Ro Khanna of California, former Transportation Secretary Pete Buttigieg, former Chicago Mayor Rahm Emanuel.

Several other Democratic lawmakers haven't traveled to early primary states, but have tried to establish national brands:

• Govs. Josh Shapiro of Pennsylvania, Gretchen Whitmer of Michigan, Jared Polis of Colorado, and Phil Murphy of New Jersey.
• Sens. Cory Booker of New Jersey, Chris Murphy of Connecticut, Elissa Slotkin of Michigan, Raphael Warnock of Georgia, and Rep. Alexandria Ocasio-Cortez of New York.
• After Trump's rise in the Republican Party and voter anger, there is always the possibility of an outsider coming in and demolishing the field.

Every Democrat declined to comment or didn't respond to a request for one.

By the numbers: At the end of June, here's how much money each of the potential candidates in Congress had in their campaign account. Those funds can legally be transferred to a presidential campaign account.

• Booker: $19.6 million (he's also up for re-election in 2026)
• Khanna: $14.2 million
• Murphy: $10.2 million
• Ocasio-Cortez: $9.8 million
• Kelly: $7.9 million
• Warnock: $4.2 million
• Klobuchar: $1.8 million
• Sanders has the most money on hand — $20.1 million — but he'd be 87 by the November 2028 election and has suggested that he's not interested in another presidential run.

Moore and Shapiro also are raising money for their expected re-election bids next year, but it's unknown how much so far. Illinois Gov. JB Pritzker is as well; he's also a billionaire and can bankroll his own campaign.

• Newsom, Beshear and Whitmer are term-limited and created outside groups to raising money that don't have the same disclosure requirements as members of Congress.
• Freshman senators such as Gallego and Slotkin — who've tried to position themselves as potential party leaders — have less than $1 million on hand.

Reality check: Raising such money gives candidates the option to run for president — but doesn't mean they will.

• Candidates also can quickly catch up in fundraising with the support of a deep-pocketed super PAC.

Flashback: Presidential campaigns are getting longer and more expensive with every cycle.

• It's now becoming standard practice for presidential candidates to raise millions in the years before launching a presidential bid and then transfer that money to an outside Super PAC or their campaign after their formal announcement.
• When then-former President Trump and Florida Gov. Ron DeSantis launched their 2024 presidential campaigns, they transferred more than $50 million and $80 million to outside super PACs, respectively.

Democrats did the same in the lead up to the 2020 Democratic primary, but in much smaller amounts.

• Sen. Elizabeth Warren (D-Mass.) transferred more than $10 million to her campaign. Other senators also transferred millions to give themselves a head start.

Between the lines: Senators have significant differences in their cash on hand in part because of when they're up for re-election and how competitive their states are.

• Booker is up for re-election in 2026 while Klobuchar was just re-elected in the competitive state of Minnesota, for example.
• Still, Booker's nearly $20 million money haul is large for a relatively safe seat in New Jersey. Sen. Jon Ossoff of Georgia is facing one of the toughest races in the country in 2026 and has $15.5 million cash on hand.
• Ocasio-Cortez also could potentially use her war chest to help other progressives or run for the Senate in 2028, when Senate Minority Leader Chuck Schumer of New York is up for re-election.