The Cost Of Power: Ramaswamy’s $20M Haul Puts 2026 On Track To Be Ohio’s Most Expensive Race Ever

India-West News Desk

COLUMBUS, OH – Ohio’s 2026 governor’s race is shaping up to be the most expensive in state history, driven by unprecedented early fundraising that is already rewriting the political record books.

Republican entrepreneur Vivek Ramaswamy, reported raising a staggering $19.8 million in less than one year, according to his 2025 annual campaign finance filing. The figure, which does not include personal investment by Ramaswamy, is the largest amount ever raised by a gubernatorial candidate in Ohio history at this stage of a campaign.

Campaign officials say the scale and speed of the fundraising signal that the contest to succeed term limited Governor Mike DeWine will break previous spending records well before Election Day. DeWine raised $24 million during his entire 2018 campaign, a benchmark Ramaswamy is already on pace to surpass more than a year before the general election.

Jonathan Ewing, Ramaswamy’s campaign manager, said the record setting total is notable not just for its size but for its breadth. He said the campaign received nearly 255,000 donations from more than 88,900 unique donors, with an average contribution of $76. Donations of $200 or less accounted for 97 percent of individual contributions, underscoring what the campaign describes as broad grassroots support, he said.

Ramaswamy’s fundraising haul more than doubles the previous early fundraising record of $8.4 million set by DeWine in 2017, reinforcing expectations that the 2026 race will eclipse all prior Ohio gubernatorial contests in cost.

On the Democratic side, former Ohio health director Dr. Amy Acton reported raising $4.3 million in 2025, along with nearly $1 million more in January. Her fundraising accelerated after former Senator Sherrod Brown and former Congressman Tim Ryan announced they would not seek the governorship, consolidating Democratic donor interest behind her candidacy.

While Acton’s totals trail far behind Ramaswamy’s, political observers say overall spending in the race is likely to surge as both parties gear up for what is expected to be a highly competitive and nationally watched contest.