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Victor Marx keeps up with Phil Weiser in governor’s race fundraising, but he’s burning through cash fast

Republican nominee spends huge chunk on fundraising efforts as final stretch begins

Colorado Republican gubernatorial candidate Victor Marx answers questions from reporters at Spruce Mountain Ranch in Larkspur, Colorado, during his primary night results-watching party on Tuesday, June 30, 2026. (Photo by Hyoung Chang/The Denver Post)
Colorado Republican gubernatorial candidate Victor Marx answers questions from reporters at Spruce Mountain Ranch in Larkspur, Colorado, during his primary night results-watching party on Tuesday, June 30, 2026. (Photo by Hyoung Chang/The Denver Post)
Nick Coltrain - Staff portraits in The Denver Post studio on October 5, 2022. (Photo by Eric Lutzens/The Denver Post)
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Republican Victor Marx has appeared to keep up with Democrat Phil Weiser in the cash race for Colorado governor — but a much higher spending rate, mostly going to more fundraising mail, has left Marx with a notably lighter war chest heading into the campaign’s home stretch.

Less than a month before ballots start arriving in mailboxes , Marx this week reported having about $215,000 in the bank. Weiser, the state’s attorney general, reported about $827,000 in his campaign account.

Colorado Attorney General and Democratic gubernatorial nominee Phil Weiser leaves the stage after a unity rally put on by the Colorado Democratic Party following the primary election on Thursday, July 2, 2026, at the Laborers' International Union of North America Local 720 headquarters in Denver. (Photo by Timothy Hurst/The Denver Post)
Colorado Attorney General Phil Weiser leaves the stage after a unity rally put on by the Colorado Democratic Party following his gubernatorial primary win on Thursday, July 2, 2026. (Photo by Timothy Hurst/The Denver Post)

In the most recent campaign fundraising filings, covering July 28 through Sept. 2 and due Tuesday, Weiser reported raising almost $687,000. Marx raised almost $625,000.

But Weiser spent less than half of his haul — about $229,000 — and much of that was on payroll. Marx, meanwhile, spent almost 90% of his new fundraising, or more than $551,000. More than half of the total — almost $335,000 — went to a direct-mail fundraising company.

Both major-party candidates also have independent expenditure committees supporting them, and those can spend and raise unlimited funds, albeit without any coordination with the candidates’ campaigns. Both operations appear to have gone largely dark following the June 30 primary election. Freedom IEC, the group backing Marx, reported spending about $29,000, with about $28,000 raised, over the past month. Fighting For Colorado, the group backing Weiser, reported spending about $124 and raising just over $3,000.

Labor Day historically marks the start of the sprint toward Election Day, with heavy spending expected in October to sway voters who haven’t made up their minds or cast their ballots yet. Election Day is Nov. 3.

Colorado clerks will begin mailing ballots to voters Oct. 2. Weiser is the heavy favorite to succeed term-limited Gov. Jared Polis, with Colorado voters choosing only one Republican governor in the past 50 years and the state trending steadily blue over the past decade.

Marx, a first-time candidate who’s a former nonprofit ministry leader, emerged from a bruising primary campaign that came down to only a few thousand votes over state Sen. Barbara Kirkmeyer — and ended with both of his GOP rivals saying they would not support him in the general election.

Marx’s candidacy has also been marred by ongoing questions about his biography and fundraising practices. On Aug. 31, the secretary of state’s office announced it was seeking against the Marx campaign for allegedly accepting donations over the state limit and “aggravating factors.”

A is slated to begin Thursday.

Among other candidates, Greg Lopez, a former short-term Republican member of Congress now seeking the governorship as an unaffiliated candidate, reported ending the latest campaign filing period with less than $18,000 on hand. He raised less than $17,000 during the period.

Other Colorado races

Here is how much money major-party candidates raised in other state races July 28 through Sept. 2, and how much they had on hand at the end of the reporting period:

Attorney General

  • Michael Allen (Republican): raised $97,812.61, reported $62,506.59 on hand.
  • Jena Griswold (Democrat): raised $241,521, reported $292,067.19 on hand.

Secretary of State

  • Amanda Gonzalez (Democrat): raised $64,721.82, reported $84,499.32 on hand.
  • James Wiley (Republican): raised $13,516.32, reported a debt of $4,305.11.

Treasurer

  • Kevin Grantham (Republican): raised $9,231, reported $59,612.22 on hand.
  • Jeff Bridges (Democrat): raised $13,101, reported $228,880.89 on hand.

In state legislative races, party political action committees that aim to expand or reduce Democrats’ majorities also reported recent fundraising and spending:

Colorado House of Representatives

  • Colorado Way Forward (PAC supporting Democrats): raised $226,750, spent $38,583.18. Reported $1,179,792.08 total raised this cycle.
  • New Day Colorado (PAC supporting Republicans): raised $112,505, spent $87,784.40. Reported $1,260,601.19 total raised this cycle.

State Senate

  • All Together Colorado (PAC supporting Democrats): raised $217,575, spent $72,730.85. Reported $1,678,887.09 total raised this cycle.
  • Senate Majority Fund (PAC supporting Republicans): raised $434,200, spent $189,419.75. Reported $1,928,319.11 total raised this cycle.

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