ATLANTA – Georgia Democratic Sen. Jon Ossoff is building a cash hoard even as he is already spending heavily on his 2026 reelection campaign.

Ossoff, the only Democrat seeking reelection next year from a state that President Donald Trump won in 2024, said Wednesday that he raised more than $12 million from July through September.

The first-term senator says he now has $21 million in the bank, but Ossoff spent nearly half of what he raised in the third quarter, reflecting a campaign that is already well underway. An outside group with ties to Republican Senate Majority Leader John Thune announced in July that it was spending $5 million to advertise against Ossoff, while Susan B. Anthony Pro-Life America said it would spend $4.5 million against Ossoff in September.

Ossoff said he received 233,000 donations over the three-month period, underlining how he has built a powerful fundraising operation.

Two Georgia Republicans seeking to unseat Ossoff said Monday that each had raised nearly $2 million through Sept. 30 after entering the race. U.S. Rep. Mike Collins raised $1.9 million, while former football coach Derek Dooley said he raised $1.85 million. Collins transferred $1 million from his U.S. House campaign account and said he had $2.4 million in cash. Dooley said he has $1.7 million in cash on hand.

The third major Republican in the race, U.S. Rep. Buddy Carter, hasn’t reported a total yet. Carter raised $1 million in contributions in the second quarter and lent his campaign an additional $2 million.

Ossoff has held several campaign rallies, emphasizing his opposition to Trump and trying to tie the president to one of Ossoff’s longstanding themes, what he sees as corruption rooted in the influence of money in politics. In his official capacity, Ossoff has emphasized that he can get some bipartisan work done in a divided Congress.

The election is likely to be close and very expensive. The twin Senate races in 2020, when Ossoff and Raphael Warnock narrowly won and flipped control of the body to Democrats, cost more than $900 million combined, according to OpenSecrets, which tracks political spending. Warnock’s 2022 reelection over Republican Herschel Walker cost more than $470 million, OpenSecrets found.