Sen. Dan Sullivan (R-AK) has raised approximately $13.8 million for his 2026 reelection campaign, compared with $32.6 million raised by Democratic challenger Mary Peltola. Peltola has raised approximately 2.4 times as much as Sullivan in a race rated a toss-up.
Despite Peltola's fundraising advantage, Sullivan holds more cash. As of Sept. 30, his campaign reported approximately $5.1 million on hand, compared with Peltola's $3.16 million. Neither campaign reported outstanding debt.
The candidates' reported donor occupations reflect different fundraising patterns. CEOs contributed approximately $359,000 to Sullivan, followed by lawyers at $177,000, executives at $170,000, and company presidents at $165,000.
Lawyers contributed approximately $475,000 to Peltola, followed by professors at $128,000, CEOs at $127,000 and physicians at $118,000. Retired and not-employed contributors accounted for approximately $1.1 million, or 23%, of Sullivan's reported itemized individual donations, compared with $5.9 million, or 63%, of Peltola's. According to the analysis provided, political committees and transfers accounted for about 33% of Sullivan's receipts and 6% of Peltola's.
Outside spending has become a major component of the race. An FEC-derived compilation identified approximately $58.4 million in independent expenditures, including substantial spending opposing both candidates. Among the largest reported spenders were North Star, which spent approximately $11.8 million opposing Sullivan, and Last Frontier PAC, which spent approximately $8.3 million opposing Peltola.
Peltola has raised substantially more for her campaign, while Sullivan entered October with about $1.94 million more in cash. Outside groups have committed tens of millions of dollars beyond the candidates' own campaign spending.
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