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Economics

Dark Money and Its Influence on Election Campaigns

Quick fact

An estimated $1.6 billion in dark money was spent in the 2020 U.S. election cycle, accounting for about 22% of total federal election spending.

Why this is interesting

Most people believe they know who funds election ads, but in 2020, over $1 billion in political spending came from groups that never revealed a single donor. Where does that money really come from?