Dark money
Definition
Political spending by nonprofits and shell entities that isn't legally required to disclose its donors. Most flows through 501(c)(4) "social welfare" groups, which can spend on elections without naming who paid for it, unlike candidates, parties, and PACs.
Why it matters
Dark money lets donors shape elections and policy while avoiding accountability for that influence. Voters can't weigh an ad's message against the messenger's interests when the messenger is hidden, which undercuts the disclosure rules the rest of campaign finance law depends on.
Seen in the wild
Dark money spending in federal races hit a record $1.9 billion in the 2024 cycle, according to the Brennan Center for Justice, split roughly $1.2 billion benefiting Democratic-aligned efforts to $664 million benefiting Republican-aligned efforts, a reversal from 2020 when Democratic-aligned dark money also led but by a smaller margin.1 Hundreds of millions routed through 501(c)(4) groups such as the Democratic-aligned Future Forward USA, which directed over $300 million to its allied super PAC without disclosing its own donors, showing the mechanism is not exclusive to one party.2