Hobbs’ record fundraising offset by $7.4M spending spree

By Yellow Sheet

Gov. Katie Hobbs’ reelection campaign burned through $7.4 million in the three months leading up to the July 21 primary election, while her most likely Republican challenger couldn’t crack seven figures in fundraising.

Hobbs’ reelection campaign announced Tuesday that it raked in a record-breaking $2.5 million in donations during the second quarter of 2026, but the campaign also spent most of the money it stashed in 2025. The bulk of that $7.4 million was dedicated to financing ads aimed at boosting Hobbs’ first-term accomplishments.

After the first three months of 2026, the governor had $7 million available to spend on her campaign. Now, with the real showdown about to begin, Hobbs has $2.3 million to spend.

One railbird called the spending “phenomenal” and argued that Hobbs’ political ads have done little to distinguish her narrative outside of painting her as more palatable than Congressman Andy Biggs.

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