Major midterms 'signal' flagged by reporter: 'Huge boon for Democrats'

Democrats trying to win back the House just had their biggest fundraising quarter yet. According to Punchbowl News co-founder Jake Sherman, the money shows donors think the party can win.

House Majority PAC and its allied nonprofit, House Majority Forward, raised $230 million in the third quarter of the year, Punchbowl recently reported. HMP President Mike Smith told the outlet it was the groups' best quarter ever.

"This is a huge boon for Democrats as they strive for the House majority amid an avalanche of spending from GOP groups," Punchbowl wrote.

Sherman posted the news on X with a "BREAKING NEWS" label.

The total is more than double what the groups raised in the second quarter, when they brought in a combined $94 million. During the third quarter of the 2024 cycle, they raised $150 million, Punchbowl reported. The two groups have raised $514 million this cycle so far.

"Donors are clearly signaling they believe Democrats have a very strong chance of winning the majority come Election Day," Punchbowl reported.

The fundraising numbers line up with the forecasts. Decision Desk HQ gives Democrats a 72% chance of winning back the House. Meanwhile, Republicans are dealing with low morale. At a Senate GOP donor retreat last week, attendees called their own pollster's forecast "delusional," Axios reported.

The election is Nov. 3.