Attorney General Phil Weiser still holds a significant — albeit still early — cash advantage over U.S. Sen. Michael Bennet in the Democratic primary race for Colorado governor, newly filed campaign finance reports show.
But an independent spending group’s fundraising, including several high-dollar donations, has more than evened the playing field for Bennet.
Weiser, who announced in January that he hoped to succeed term-limited Gov. Jared Polis, entered October with nearly $3 million in cash on hand, according to filings due Wednesday night. Bennet, who announced he was running for governor in April, entered the year’s final financial quarter with about $1.6 million in the bank.
The primary election is in June, with an emerging field that also includes a handful of lesser-known Democrats who have raised little to no money. The winner will face off against the Republican nominee and other candidates in the November 2026 general election. The comparatively wide-open GOP race has 20 candidates declared so far.
U.S. Sen. Michael Bennet announced his candidacy for Colorado governor during a rally at City Park in Denver on Friday, April 11, 2025. (Photo by Hyoung Chang/The Denver Post)Weiser’s war chest continues to benefit from his early entrance into the race. He raised nearly $2 million in the first quarter of the year, but his fundraising has been outpaced by Bennet in the two quarters since. But not by enough for Bennet to erase that early deficit.
Colorado law caps donations to gubernatorial campaigns at $725 per individual per election cycle, leading to a natural drop-off as donors max out their contributions.
“We’re building a campaign powered by Coloradans, fighting for Coloradans and pushing forward a bold vision for Colorado’s future,” Weiser said in a statement. “Coloradans are ready for leadership that will fight for our democracy, protect our freedoms, take action to address our affordability challenges and show up for local communities.”
Bennet raised nearly $1.8 million during the second fundraising quarter, when he announced his candidacy, and nearly $950,000 in the latest reporting period, which ran from July 1 until Sept. 30. During those same periods, Weiser raised about $1 million and nearly $850,000, respectively.
“We’re honored to have the support of hardworking Coloradans from every corner of the state,” Bennet’s campaign manager, Ben Waldon, said in a statement. “Michael has been fighting for Colorado his entire career. … Coloradans know that Michael is the only candidate in this race who has a bold vision to make Colorado more affordable, protect our democracy, and build a brighter future for all of us.”
But Bennet has shown his real fundraising prowess through the money pouring into Rocky Mountain Way, an independent expenditure committee set up to benefit his campaign. Independent expenditure committees cannot coordinate with a candidate’s campaign and can accept dark-money donations from nonprofits that do not identify their donors.
Rocky Mountain Way has raised more than $2.2 million since its inception just days after Bennet entered the race. Its biggest donor so far: former New York City Mayor Michael Bloomberg. Bloomberg, who ran against Bennet in the 2020 Democratic presidential primary, donated $500,000 to the committee.
A nonprofit organization named Brighter Future for Colorado contributed $400,000 to the committee.
An independent expenditure committee has been set up to benefit Weiser’s bid, too. That group, called Fighting for Colorado, reported raising almost $215,000 through the end of September.
Republican candidates’ fundraising
On the crowded Republican side of the governor’s race, the fundraising so far pales in comparison to the major Democrats.
Only state Sen. Barb Kirkmeyer, with $188,595 reported, has raised more than six figures for the race. She announced her campaign in September. State Rep. Scott Bottoms reported the second-highest fundraising, at $73,000 so far this cycle.
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