Not only did political ad spending top $12 billion last year (a new record), with total marketing estimates exceeding $18 billion (another record), but political ad buys are well underway for the 2025 and 2026 races. Two races of note: the New Jersey gubernatorial election and the Florida special election to fill the seat held by former Rep. Matt Gaetz. Millions upon millions will be pumped into both races, among others.