Why It Matters
Arizona’s 2026 gubernatorial race is shaping up as a high-spending contest, with Democratic incumbent Katie Hobbs building a substantial financial advantage over the Republican primary field heading into the July 2026 primary election. Cash on hand and spending velocity signal which candidates can sustain advertising campaigns and ground operations through the general election.
What Happened
Governor Hobbs raised approximately $2.6 million during the second quarter of 2026, according to campaign finance filings covering April through June. Her campaign reported that the vast majority of contributions came from donors giving under $100. Hobbs entered the quarter with $7.1 million cash on hand and spent $7.4 million during Q2, ending the period with approximately $2.4 million remaining.
On the Republican side, U.S. Congressman Andy Biggs, the frontrunner in the GOP primary with backing from President Donald Trump and Turning Point USA, raised $916,700 in Q2. Biggs had just over $1.1 million on hand at the start of the quarter, spent $770,000, and ended with approximately $1.2 million cash on hand.
Biggs’ primary challenger, U.S. Congressman David Schweikert, raised only $101,000 in Q2 after starting the quarter with $86,388 on hand. Schweikert spent $170,878 and ended Q2 with $42,494 cash on hand, significantly constraining his ability to fund further advertising or campaign activity.
By the Numbers
$2.6 million — Hobbs’ Q2 fundraising
$7.4 million — Hobbs’ Q2 spending
$2.4 million — Hobbs’ cash on hand at end of Q2
$916,700 — Biggs’ Q2 fundraising
$101,000 — Schweikert’s Q2 fundraising
July 21 — Date of Arizona Republican primary election
Zoom Out
The fundraising disparity reflects a broader pattern in 2026 races where Democratic incumbents in competitive states have secured early financial advantages. Hobbs’ ability to raise significantly more than either Republican primary contender gives her campaign flexibility to define the general election landscape through television and digital advertising before Republicans complete their nomination process.
The Q2 filings also reveal activity in Arizona’s Secretary of State and Attorney General races. Democratic Secretary of State Adrian Fontes raised approximately $519,000 in Q2 and ended the period with roughly $1 million cash on hand. Democratic Attorney General Kris Mayes reported raising more than $1.2 million in Q2, spending more than $1.4 million (including more than $400,000 for advertising), and ending with $2.3 million on hand.
On the Republican side, Arizona Rep. Alexander Kolodin, a member of the Arizona Freedom Caucus, raised $73,370 for the Secretary of State race. Kolodin’s campaign spent approximately $74,000 to Forged Communications, a firm owned by Arizona Sen. Jake Hoffman. Former Arizona Republican Party Chairwoman Gina Swoboda, also seeking the Republican nomination for Secretary of State, raised $58,730 in Q2 but ended the period with only $22,575 cash on hand after spending $95,871.
Arizona Senate President Warren Petersen, a Republican, raised $275,416 in Q2 and spent more than $1.2 million, including approximately $900,000 on television advertising.
What’s Next
The Republican gubernatorial primary concludes July 21, 2026. Once the GOP nominee is determined, the focus will shift to how quickly that candidate can consolidate support and begin closing Hobbs’ financial gap ahead of the November general election. Hobbs’ current spending pace and cash position suggest her campaign intends to maintain advertising pressure through the summer and into fall.