Big Money Lost To Abdul El-Sayed. Where Will It Go Next?

Michigan just proved that money has its limits in elections. Senate candidate Abdul El-Sayed beat out establishment sweetheart Rep. Haley Stevens (D-Mich.) in what was likely the most expensive Democratic primary in U.S. history. El-Sayed’s win was a major blow to the super PACs and shadowy nonprofits that spent tens of millions against him, but the story is far from over. AIPAC and its affiliates claimed five other victories around the country this week, and dark money groups are now training their sights on the general election in November. Today on Lever Time, Natalie Bettendorf speaks with David Dayen, executive editor of The American Prospect, about Abdul El-Sayed’s landmark win in Michigan, the must-watch primary races ahead, and the bizarre new landscape of political campaigns. They discuss the pop-up and shell PACs, billionaire-backed nonprofits, paid influencers pushing political messages, and the surprising lack of federal oversight in the 2026 midterms. 🔔 Subscribe to The Lever for more independent investigative journalism Want more essential midterm coverage? Check out The Lever’s weekly newsletter, Midterm Madness, for election updates: https://www.levernews.com/midtermmadness 0:00 Intro: El-Sayed wins the Michigan Senate primary 0:36 El-Sayed's victory speech — outspent 11-to-1 1:22 What's next: Facing Mike Rogers in November 2:54 David Dayen breaks down the Michigan race 6:12 The web of PACs spending against El-Sayed 8:40 Why AIPAC and industry money opposed El-Sayed 10:48 Is big money losing its power in elections? 16:06 Why the FEC can't enforce campaign finance law 20:25 Tracking dark money: shell PACs and legal loopholes 25:08 Real campaign finance reform, beyond disclosure 28:43 Do celebrity endorsements actually move voters? 32:30 The rise of paid influencer endorsements 35:05 New 2026 tactics: mailers, data centers, MAGA outreach 38:26 Will Democrats unite behind El-Sayed for November? 41:58 Where does AIPAC's money go next? 44:05 Races to watch: Hawaii, Florida, and a suspicious CA special election 47:48 Has this primary season shifted the Democratic Party?