SANTA FE — Democratic nominee Deb Haaland has dramatically widened her financial advantage in New Mexico’s open gubernatorial contest, amassing a record-shattering campaign war chest as the race heads into its critical final stretch before the November election.
Newly filed campaign finance records reveal that Haaland, the former U.S. Interior secretary, pulled in more than $3.4 million during the most recent reporting window. That period spanned from late June through early September, underscoring the relentless pace of her fundraising operation with less than two months remaining before voters cast their ballots.
Since formally entering the gubernatorial race in February 2025, Haaland has generated an unprecedented $17.3 million in overall political contributions. Her campaign has simultaneously operated as an expansive political apparatus, expending roughly $13.9 million of that total so far to build infrastructure, communicate with voters, and reinforce her candidacy across the state.
Haaland’s historic bid could see her become the first Native American woman elected governor in the history of the United States. Her unprecedented fundraising total has given her a commanding financial edge over her Republican rival, Gregg Hull, who has faced significant challenges trying to keep pace with the Democrat’s prolific money-raising operation.
Hull, the former mayor of Rio Rancho who secured the Republican nomination following a competitive three-way primary, posted fundraising figures that trailed far behind Haaland’s. His campaign brought in upwards of $943,000 during the latest reporting period, providing him with essential capital but leaving him at a substantial cash deficit overall.
Since officially announcing his candidacy for governor in October, Hull has raised nearly $1.9 million in total contributions and spent roughly $1.4 million. His latest influx of funds was bolstered by several prominent political allies, including contributions from both current and former Republican state lawmakers who rallied behind his general election bid.
The Republican nominee also received significant financial backing from traditional conservative donor bases, notably large contributions from energy companies operating across New Mexico. Among these was a $12,400 donation from a political action committee affiliated with Farmington-based Merrion Oil & Gas Co.
Despite the pronounced fundraising disparity, the Hull campaign maintained that its financial support represents deep and authentic local momentum. Campaign consultant Ryan Saylor pointed out that more than 90% of the money raised by Hull originated from New Mexico residents, with the vast majority of those donations coming in amounts of $100 or less.
Saylor argued that this high percentage of homegrown, small-dollar support illustrates genuine grassroots enthusiasm for the former mayor. He framed the donations as evidence that New Mexicans are seeking a chief executive who has a demonstrated history of expanding employment opportunities, protecting public safety, and delivering practical governance for local communities.
Nevertheless, political analysts caution that Hull’s severe financial disadvantage could severely hamper his capacity to compete with Haaland on broadcast airwaves during the homestretch. Both candidates have already launched promotional television commercials highlighting their public service records, but dominating the media landscape requires sustained expenditures.
Brian Sanderoff, the president of Albuquerque-based Research & Polling Inc., noted that Haaland’s towering financial reserves give her the resources to achieve pervasive visibility in the final 50 days. Sanderoff observed that her massive war chest will allow her to saturate the electorate through extensive direct mail distributions, prominent television broadcast buys, and heavily targeted social media outreach.
At the same time, Sanderoff indicated that Haaland’s extensive nationwide appeal carries potential vulnerabilities that political opponents could exploit. He noted that critics could seize upon her heavy reliance on thousands of out-of-state donors to question her local focus as she campaigns for the state's highest office.
Haaland’s campaign has moved to counter such attacks by emphasizing her broad engagement within the state. Aides highlighted that she has completed a campaign tour spanning all 33 New Mexico counties and noted that her newest filing includes contributions from more than 13,300 individual New Mexico residents.
In a public statement accompanying the release of her numbers, Haaland expressed gratitude to working families, emphasizing her personal understanding of economic pressures. She outlined her platform as a commitment to standing up for residents, resisting the policies of Donald Trump, and tackling the cost of living so that families are not forced to decide between paying rent or buying food.
Beyond grassroots contributions, Haaland’s filing disclosed several major corporate donations, including a $12,400 contribution on Aug. 26 from California software giant Oracle America. The company is notably tied to the controversial Project Jupiter data center initiative proposed in southern New Mexico.
Addressing the corporate contribution, Haaland campaign spokeswoman Hannah Menchhoff stated that the candidate advocates for a statewide moratorium on new large-scale data center facilities until stricter oversight is established. Menchhoff noted that Haaland plans to release a detailed "data center accountability" proposal and has demanded full industry transparency before companies do business in the state.
Even with Haaland’s commanding financial lead, public polling shows that the general election remains highly competitive. A recent Journal Poll indicated that 49% of likely voters surveyed planned to support Haaland, while 43% intended to back Hull, leaving the remaining segment of the electorate undecided ahead of the Nov. 3 vote.
The latest disclosures submitted to the office of Secretary of State Maggie Toulouse Oliver represent the initial mandatory financial filings of the general election cycle. Candidates are scheduled to submit two additional expenditure reports prior to Election Day, followed by a final post-election account.
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