Michael Bennet, Phil Weiser duel for cash in campaign finance race

Attorney General Phil Weiser and U.S. Sen. Michael Bennet wrapped up 2025 with a combined $5 million in their campaign coffers for the Democratic nomination for Colorado governor. However, an independent expenditure committee linked to the senator is gaining momentum.

Rocky Mountain Way, which backs Bennet’s campaign but operates independently, has raised nearly $3.6 million, surpassing Bennet’s campaign fundraising of about $3.5 million. On the other hand, Weiser’s campaign has raised almost $4.6 million, with additional support from Fighting for Colorado, an independent committee that raised $563,000.

Independent committees have the advantage of raising unlimited funds from donors, unlike campaigns that face strict fundraising limits.

Combined, Bennet and his supporters have a significant fundraising edge with a total of $7 million between the two committees, compared to Weiser and his supporting committee’s $5.1 million. The primary elections are scheduled for June 30, and the latest financial reports cover the period from Oct. 1 to Dec. 31. Bennet’s campaign ended the year with $1.6 million in the bank, while Weiser had nearly $3.5 million.

Although Weiser’s campaign has raised more funds, Bennet’s campaign has been spending at a faster rate. In the last quarter, Bennet spent almost $790,000 and raised about $800,000, while Weiser raised $840,000 and spent $310,000.

On the independent committee side, the committee supporting Bennet ended the year with $3.3 million, while the Weiser-supporting committee had $527,000.

In their statements regarding their latest fundraising efforts, both Weiser and Bennet emphasized their grassroots support.

“Michael is running for governor to protect Colorado from Donald Trump’s chaos and deliver a stronger, more affordable future for our state — and his robust grassroots support shows that Coloradans are behind him,” said Bennet’s campaign manager, Nellie Moran.

“We are building a historic people-powered movement, and I am proud to be the grassroots candidate in Colorado’s governor’s race,” said Weiser in a statement.

Notable donations in the last quarter include $750,000 from former New York City Mayor Michael Bloomberg to the independent committee supporting Bennet, while the independent committee supporting Weiser received contributions from individuals like Tom Ray and Arthur Reimers.

Two candidates dominate GOP race

On the Republican side, the field for governor, initially consisting of over 20 candidates, seems to have narrowed down to three major fundraisers.

Victor Marx, a Colorado Springs minister and podcast host endorsed early by U.S. Rep. Lauren Boebert, has raised nearly $620,000 in his bid for the Republican nomination.

State Sen. Barb Kirkmeyer of Brighton has raised over $381,000, while State Rep. Scott Bottoms of Colorado Springs is the only other candidate to have raised over $100,000, with $110,000 reported so far.

“I am truly grateful for the overwhelming support we’ve received,” said Marx. “Everywhere we go, people are yearning for change. This campaign is about uniting Coloradans who are tired of the extremes of both political parties.”

Democrats break out in other races

In most of the remaining statewide primary races, there are clear leaders in terms of fundraising.

Term-limited Secretary of State Jena Griswold, a candidate for the Democratic nomination for attorney general, leads in fundraising with almost $1.5 million raised, followed by Hetal Doshi with $751,000. Attorney David Seligman has raised about $690,000, and Boulder County District Attorney Michael Dougherty has raised about $580,000.

On the Republican side, no candidate has reported any fundraising in the attorney general’s race, with Colorado Springs District Attorney Michael Allen recently declaring his candidacy.