Money in Denver Politics
Outside spending in Denver elections jumped from less than $1 million in 2019 to $4.8 million in 2023. Scroll to see who's paying, what they're buying, and whether public financing can compete.
Outside Spending in Denver Elections
The Money Explosion
Outside spending in Denver elections went from less than $1 million in 2019 to nearly $5 million in 2023 - then exploded to $8.5 million on 2025 ballot measures alone. Super PACs funded by billionaires, corporations, and industry groups now dominate Denver elections. The 2025 school board race added another $2.4 million in outside money.
Who Pays for Denver Politics
Two tech billionaires put more money into the 2023 mayor’s race than thousands of Denver residents combined. Reid Hoffman gave $905,000. Michael Bloomberg gave $500,000. The real estate industry funneled $578,000 through a single PAC backing Kelly Brough - led by the National Association of Realtors at $150,000.
Fair Elections vs. Reality
Denver’s Fair Elections Fund is one of the most progressive public campaign finance systems in the country - $7.7 million disbursed to 47 candidates in 2023, with 9:1 matching on small donations. But unlimited super PAC spending overwhelms it. $7.7 million spread across 47 candidates vs. $4.8 million concentrated on a handful.
How the Council Votes
When the council votes progressively, the mayor overrides them. When the council votes regressively, the mayor signs. The encampment moratorium passed 7-6 but was vetoed - then the mayor bypassed a 12-0 council vote against Flock surveillance with a smaller contract. The veto is the most powerful tool in Denver politics.
The School Board Lesson
In 2025, charter school advocates outspent teachers’ union allies 5-to-1 in the most expensive Denver school board election ever - $1.5 million vs. $286,500. All four charter-backed candidates lost. All four union-backed candidates won. Money doesn’t always win. But it always tries.
The 2025 Ballot Wars
Denver’s 2025 ballot measures drew $8.5 million in spending. The biggest battle: Referendum 310 on tobacco regulation. Michael Bloomberg personally contributed $4.85 million to the anti-tobacco side, which spent $6.4 million total. The tobacco industry spent $665,000 fighting it - outspent 10-to-1, and they lost. Meanwhile, the Vibrant Denver Bond raised $1.8 million - 85% from corporate donors including construction firms, engineering companies, and real estate interests who stand to benefit from the infrastructure projects.
What’s Coming in 2027
New rules for 2027: anonymous donations banned, contribution limits tightened to $500 for Fair Elections Fund participants. But super PAC spending remains unlimited. Five candidates have already filed for city council and the mayor’s office. Three of them are already using the Fair Elections Fund, with strong small-dollar participation. Lisa Calderon has announced against Mayor Johnston. The money is about to start flowing. Track it at SearchLight Denver and Colorado TRACER.
What You Can Do
Follow the Money
Look up who funds your elected officials on SearchLight Denver (municipal races) and Colorado TRACER (state races). Campaign finance data is public. Use it.
See the Scorecard →Support Small-Dollar Candidates
Fair Elections Fund candidates get 9:1 matching on donations of $50 or less. A $50 donation becomes $500. Your small donation has enormous leverage - if you give to FEF-qualified candidates.
Share This Data
Copy and share this page. When people see who funds Denver politics, they make different decisions at the ballot box. Transparency is the first step to accountability.
Data Sources
- Colorado Sun."Denver mayoral candidates raised $6.6 million" (Apr 2023). Outside spending in mayoral and council races.
- Chalkbeat Colorado."Nearly $2.4 million spent in 2025 Denver school board election" (Dec 2025). Pro-charter vs. union-backed spending breakdown.
- Colorado Newsline."Billionaires, developers and dark money" in Denver elections (Mar 2023). PAC donor breakdowns.
- Denver Post.Fair Elections Fund reforms (Feb 2025). Campaign finance rule changes for 2027 cycle.