Democratic nominee Deb Haaland has significantly expanded her financial advantage over Republican rival Gregg Hull as New Mexico’s open gubernatorial race moves into its crucial final weeks. With less than two months remaining before voters head to the polls, new campaign finance disclosures show the former federal official maintaining an unprecedented fundraising pace.
According to the latest state filings, Haaland collected more than $3.4 million during a reporting period extending from late June through early September. That recent surge pushed her overall fundraising total to an unprecedented $17.3 million since entering the contest in February 2025. Her campaign has already deployed approximately $13.9 million of that war chest to build voter outreach infrastructure across the state.
Haaland, who previously served as the U.S. Interior secretary, is aiming to make history as the nation's first Native American woman to be elected governor. Her dominant fundraising has provided her campaign with significant momentum and operational strength heading into the homestretch of the election.
In contrast, Hull, the former mayor of Rio Rancho, has found it challenging to match the Democratic nominee’s prolific financial intake. The Republican candidate reported taking in upwards of $943,000 during the most recent reporting period, which marked his first disclosure since securing the GOP nomination in a three-way primary election.
Since formally launching his bid for the governorship in October, Hull has raised nearly $1.9 million and disbursed around $1.4 million. His recent contributions included support from multiple current and former Republican state lawmakers, alongside substantial financial backing from the state's energy sector.
Among Hull's notable corporate donations was a $12,400 contribution from a political action committee connected to Farmington-based Merrion Oil & Gas Co. Despite the fundraising gap, Hull's team argued that his financial backing reflects strong grassroots enthusiasm from within the state.
Hull campaign consultant Ryan Saylor noted that more than 90% of the funds collected by the Republican nominee originated from New Mexico residents, with the bulk of those donations coming in amounts of $100 or less. Saylor emphasized that these numbers demonstrate genuine momentum and voter appetite for a leader focused on job creation, public safety, and delivering tangible results.
Nonetheless, the steep disparity in available cash presents severe operational hurdles for Hull as the campaign enters its final phase. Both candidates have begun broadcasting advertisements across the state, but Haaland’s financial reserves give her a considerable advantage in commanding airtime on broadcast television.
Brian Sanderoff, a veteran political analyst and president of Research & Polling Inc. in Albuquerque, observed that Haaland's vast reserves will enable an overwhelming public presence through television commercials, digital messaging, and direct mail during the remaining 50 days of the contest.
However, Sanderoff also pointed out that Haaland’s heavy reliance on out-of-state contributors could offer political openings for her opponents. Critics have frequently pointed to the national donor network fueling her campaign as an issue in a state-focused contest.
In response to questions about her contributor base, Haaland’s campaign highlighted her comprehensive tour across all 33 counties in New Mexico. Officials pointed out that the newest campaign finance filing featured donations from more than 13,300 individual New Mexico residents.
Haaland underscored her economic platform in a released statement, affirming her commitment to protecting working families, resisting the influence of Donald Trump, and lowering daily household expenses so that families are not forced to decide between paying rent and buying essential groceries.
Despite taking in a vast volume of small-dollar donations, Haaland’s disclosure also listed substantial contributions from corporate entities. Her filing showed a $12,400 contribution received on Aug. 26 from California-based software firm Oracle America, which is connected to the controversial Project Jupiter data center initiative in southern New Mexico.
Addressing the Oracle donation, Haaland campaign spokeswoman Hannah Menchhoff stated that the candidate favors a proposed statewide freeze on new large-scale data center developments. Menchhoff added that Haaland plans to introduce a comprehensive data center accountability strategy, emphasizing that tech firms must operate transparently to conduct business in the state.
Even with the substantial gap in campaign resources, polling indicates that the general election remains competitive. A Journal Poll conducted last month showed Haaland leading with 49% support among likely voters compared to 43% for Hull, leaving the remaining segment of the electorate undecided ahead of the Nov. 3 vote.
The latest financial disclosures submitted to the office of Secretary of State Maggie Toulouse Oliver represent the initial mandatory reporting deadline for the general election cycle. Candidates will submit two additional financial updates prior to Election Day, followed by a final post-election summary.
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