Key Points: 

• Candidates for the 2026 elections have begun reporting their campaign finances

• Gov. Katie Hobbs leads the fundraising pack for governor

• Candidates for attorney general and secretary of state have also seen significant donations

The election may be more than a year off, but the politicians who hope to win statewide races or stay in office are already building war chests.

Leading the pack in campaign fundraising is Gov. Katie Hobbs who is hoping to win a second term.

New reports filed with the state show the Democratic incumbent picked up another $1.17 million in donations in the first quarter of the year. And while she spent close to $421,000 during the same period, she is now sitting on more than $4.16 million since winning the 2022 race.

Congressman Andy Biggs, who entered the 2026 race in January, listed his tally so far at $181,000 against close to $43,000 in expenses.

But Biggs has something else: His report indicates a $50,000 surplus from an unspecified previous campaign committee.

Biggs cannot transfer any of the cash he raised for his multiple successful races for the U.S. House to a statewide campaign. Instead, it appears the money is left over from his 2014 campaign and has been sitting in an account ever since.

Republican challenger Karrin Taylor Robson, who announced her candidacy in February, reported collecting about $860,000. With expenses of about $106,000, that leaves her with less than $755,000 in the bank to take on Biggs and Hobbs.

Notably, Robson, who made an unsuccessful bid to be the Republican nominee for governor in 2022, is now writing off the $16.9 million she loaned to herself during that campaign.

She also is benefiting from a $50,000 expense on her behalf from Building a Better Arizona, a political action committee chaired by former Senate President Karen Fann. Fann said the PAC was designed to help get Robson elected.

Robson, whose background is in real estate and land development, has never served in elected office.

Another noteworthy race for campaign finance is the bid for attorney general.

Incumbent Democrat Kris Mayes picked up more than $358,000 in donations since the beginning of the year. But with the money she already had in the bank, that gives her more than $690,000 in her account.

Her total expenditures are less than $100,000.

Rodney Glassman, one of the two Republicans seeking to oust her, reported earning more than $600,000 in the first quarter of the year, compared to less than $64,000 in expenses.

But Glassman, who has run for multiple offices in the last two decades — his last successful campaign being his 2007 bid for the Tucson City Council — has also given his campaign a jump start with a personal loan of $1 million. With all that, he reported $1.88 million in the bank.

Senate President Warren Petersen is also running to replace Mayes. He reported earning $116,000 in the first three months of the year, compared to only $7,200 in expenses.

Petersen, however, has money left over from prior legislative campaigns and lists his cash on hand at $307,000.

Another key race generating significant fundraising is for secretary of state.

Incumbent Democrat Adrian Fontes, who had almost $60,000 in the bank at the end of last year, has received more than $77,000 in donations. With about $53,000 in expenses, he said that leaves him with close to $85,000.

The sole Republican challenging him is state Rep. Alexander Kolodin, R-Scottsdale. He has officially been in the race since the end of March, just before the end of the quarter. He collected just $1,772 and spent $1,365.

Kolodin, however, has some money left over from prior legislative campaigns, with a current balance in his account at $34,700.

Incumbent state schools chief Tom Horne said he added nearly $32,800 to the more than $145,000 he already had in his reelection account, with just over $12,000 in expenses, leaving him with approximately $165,000.

The only other candidate for that office who filed a campaign finance report is Democrat Teresa Ruiz who listed $8,000 in donations plus a $10,000 loan to her campaign.

At this point, the only announced candidate for state treasurer is Republican Elijah Norton who announced earlier this month and has not yet filed a campaign finance report. Incumbent Republican Kimberly Yee is in her second term and cannot seek reelection.