A Republican political action committee has allocated $131 million over 17 days to bolster Ken Paxton’s campaign for the Texas Senate. This amounts to approximately $7.7 million each day, based on official documents reviewed by Newsweek.
This substantial financial backing occurs as Paxton trails behind Democrat James Talarico in several polls, ahead of the approaching midterm election on November 3.
James Talarico, with a background as a former Presbyterian seminarian and middle school educator, aims to be the first Democrat in many years to secure a Texas Senate seat. Such a win would significantly benefit the Democrats in their quest to gain Senate control.
Why It Matters
Texas holds a pivotal role in maintaining the Republican Senate majority. Paxton’s current vulnerability has led external groups to inject large amounts of money into his campaign. The magnitude of these investments reflects the urgency the party attaches to this race, which poses risks to both their Senate seat and their broader majority.
What To Know
On Polymarket, traders currently predict Talarico’s victory at 63%, while Paxton stands at 38%, with trading worth over $1.6 million.
Additionally, Kalshi traders offer Talarico a 62% chance of winning against Paxton’s 42%. However, these figures reflect trader expectations rather than actual voter intentions. These numbers can shift rapidly due to polling changes, campaign events, and trades, making them unreliable for election forecasting.
This story is still unfolding, and further updates will be provided.
Newsweek’s team utilized Martyn, their AI assistant, to compile this article. More information about Martyn can be found here.
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