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Expand chart
Data: Federal Election Commission via OpenSecrets.org, Cook Political Report; Chart: Harry Stevens/Axios

The tightest midterms races have attracted the most money, according to an Axios analysis of campaign finance filings.

The big picture: As the chart above shows, closer races have attracted the most donor money this election cycle. That's not too surprising, but even non-competitive races attracted a lot of money. In races where the outcome was assured, incumbent favorites crushed their opponents in fundraising.

By the time it's over, the 2018 midterms will have smashed the previous midterm spending record, with candidates spending a combined $5.2 billion, according to a projection by the Center for Responsive Politics. The previous record for midterm spending was about $4.2 billion in 2010, adjusted for inflation.

By the numbers: Texas Senate hopeful Beto O'Rourke, who's trying to unseat Republican incumbent Ted Cruz in one of the most closely watched races in the country, raised more money than any other midterm congressional candidate.

  • O'Rourke raked in $69 million as of his Oct. 17 report to the Federal Election Commission.
  • Though Cruz's fundraising trailed, he still ranked third in fundraising among all congressional candidates, hauling in $40 million.

The Cruz-O'Rourke contest exemplifies the trend, but they were not alone: six of the top 10 fundraisers were in races rated a "toss-up" by Cook Political Report.

  • Florida Senate contenders Rick Scott and Bill Nelson were the second and eighth most successful fundraisers.
  • Claire McCaskill and Bob Hugin, competing in toss-up races in Missouri and New Jersey, also made the top 10.

Yet candidates didn't need to be in close races to raise millions.

  • Democratic Sen. Elizabeth Warren took in more than $34 million as of Oct. 17, even though Cook Political Report rates her seat as Solid D and her two opponents combined raised under $8 million.
  • On the Republican side, House Majority Whip Steve Scalise, virtually a sure bet to re-win his House seat, raised $9.5 million while his top opponent raised just over $200,000.

Go deeper

More than a dozen injured in downtown Austin shooting

Police tape in Austin, Texas in 2018. Photo: y Carolyn Van Houten/The Washington Post via Getty Images

A shooting in a busy part of downtown Austin, Texas, early Saturday injured at least 13 people, including two who are in critical condition.

The state of play: Gunfire erupted around 1:30 a.m. along 6th Street, a popular area with bars and restaurants. The suspected shooter remains at large, Austin police said. "It is unknown if there is one, or multiple suspects involved," they noted, adding the shooting appears to be an isolated incident.

Biden to urge G7 to take unified approach to countering China

Photo: Hollie Adams/Bloomberg via Getty Images

President Biden on Saturday is expected to urge fellow G7 leaders to adopt a unified approach to countering China's rising global influence, AP reports.

Driving the news: The G7 leaders are set to unveil a multi-billion-dollar global infrastructure plan aimed at rivaling Beijing's efforts in the developing world.

Why America's post-vaccine summer is off to a slow start

Illustration: Sarah Grillo/Axios

Americans are itching to put pandemic life behind them, but many of the necessary ingredients for a summer of carefree fun — everything from neighborhood pools to car rentals — still aren't fully available.

The big picture: Labor shortages, scrambled supply chains and simple logistics are all making it harder for a whole range of businesses to meet post-pandemic demand, and that’s making “hot vax summer” a little harder to pull off.