COLUMBUS, Ohio — Ohio's 2026 race to become governor is set to become one of, if not the most, expensive in state history.
Tens of millions of dollars have already been raised to succeed Gov. Mike DeWine, with the majority of that coming from Republican frontrunner Vivek Ramaswamy.
Since announcing his campaign one year ago, the Cincinnati businessman reported raising nearly $20 million. Now joined by his lieutenant governor pick, Senate President Rob McColley, Republican strategist Bob Clegg said the pair are raising the most money he has ever seen this early on in a race.
"Money usually starts going in the direction of who people think is gonna win," Clegg said.
Candidates have to file campaign finance reports during the year when they are running for office. Previously, we evaluated the first half of 2025.
RELATED: Why both top gubernatorial candidates have a good fundraising story to tell
In our analysis of Ramaswamy’s campaign finance filing, 52% of the nearly $9.8 million he raised this filing period came from Ohioans, with donors from California, Florida, Texas and New York following.
About 94% of those contributions came from individuals, not political action committees (PACs). His average donation was $56.
"The Democrats have probably resigned themselves to the fact that they're going to be greatly, greatly, greatly outspent," Clegg said.
Democratic frontrunner Dr. Amy Acton has raised $5.3 million over the past year, a record for her party this early into a race.
Although they trail in fundraising, her lieutenant governor pick, David Pepper, said they have a strength that Ramaswamy doesn’t.
"The best way to raise support to actually not just win, but be a good governor, is through the grassroots level," Pepper said.
In a stark difference to Ramaswamy, Acton’s donors were overwhelmingly from Ohio. Our analysis found that of the nearly $4 million raised during the filing period, 83% came from Ohioans, with other donors kicking in from California, New York, Illinois and Massachusetts.
About 95% came from individuals, not PACs, with an average donation of $51.
"Tens of thousands of donors are already giving 20 or $30," Pepper said.
According to this period’s filings, Ramaswamy's team has mainly spent money on consultants, postage and delivery for mailers and travel — including his $300,000 private aircraft lease.
He also had to issue around 1,400 contribution refunds, totaling more than $230,000 for the period.
Acton spends on digital advertising, direct mail and staff payroll. She had to refund about 100 contributions, equaling around $9,300.
But starting now, Clegg says this money will start hitting the airwaves.
Both sides predict that even more money will be spent in Ohio, making this one of the most expensive races for governor in state history. DeWine currently holds the record with $24 million raised during the 2018 gubernatorial race.
Other statewide candidates
Although all candidates running for an executive office have to file by the end of January, there is another deadline that could clear the fields.
Party candidates must submit 1,000 valid signatures by the end of business on Feb. 4. If they don't make the count, their name will not be on the primary ballot.
Gubernatorial
Republican Casey Putsch reported raising more than $46,000 with $25,000 cash on hand.
Republican Heather Hill, who previously said she may run as a different party but then backtracked, yet is still listed as an independent on the secretary's website, reported raising about $26, with a balance on hand of around $3,630.
Tim Grady, who is running as an independent, reported $515 in contributions and a cash balance of about $530.
Republican Philip Funderburg did not report any funds, nor did independent Berlin King.
Democrat Jacob Chiara did not file a report. Republican Rebekah Gomez did not file a report. Mike Cole, who is running as an independent, did not file a report.
Attorney General
Republican Auditor Keith Faber reported about $510,000 and has $2.4 million cash on hand.
Democrat John Kulewicz reported $436,000. He has a $350,000 cash balance.
Democratic former lawmaker Elliot Forhan reported $1,600, with $2,150 on hand.
Secretary of State
Republican Treasurer Robert Sprague reported about $508,000 with a balance of about $1.8 million.
Republican Marcell Strbich reported more than $210,000, with $668,000 on hand.
Democratic lawmaker Allison Russo reported more than $265,000 with about $192,000 cash balance.
Democrat Bryan Hambley reported about $303,000 with a balance of about $546,000.
Treasurer
Republican state Sen. Kristina Roegner reported more than $446,000 with a balance of about $2.4 million.
Republican former lawmaker Jay Edwards reported more than $836,000 with a balance of around $1.3 million.
Republican former lawmaker Niraj Antani didn't report as of the January deadline. He is still running, but did not respond to answer why he didn't file his campaign finance report.
Democrat Seth Walsh, who just announced his campaign after retaining his Cincinnati City Council seat in 2025, was not required to file anything with the state, he said. He did not report anything.
Auditor
Republican Secretary of State Frank LaRose reported more than $400,000, with a balance of about $808,000.
Democrat Annette Blackwell did not report anything, as she launched her campaign in mid-January.
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