Wes Moore holds massive cash edge over Dan Cox in rematch

The Brief

Moore holds nearly 48‑to‑1 advantage over Cox.
Moore ends period with nearly $6.5M to Cox’s $136K.
Cox obligations exceed cash despite gains in contributions and loans.

ANNAPOLIS, Md. - Maryland Gov. Wes Moore holds an overwhelming financial advantage over Republican Dan Cox as the two prepare for a rematch of their lopsided 2022 contest, according to newly filed campaign finance reports with the Maryland State Board of Elections.

Moore’s campaign ended the latest reporting period with nearly $6.5 million in cash, compared with approximately $136,000 for Cox — a nearly 48-to-1 advantage for the Democratic incumbent.

Financial snapshot Figures cover June 8 through Aug. 18:

Starting balance Wes Moore (D): $6,519,106 Dan Cox (R): $30,346
Net contributions Wes Moore (D): $1,727,122 Dan Cox (R): $162,512
New loans Wes Moore (D): $0 Dan Cox (R): $11,855
Net expenditures Wes Moore (D): $1,752,675 Dan Cox (R): $68,621
Ending cash Wes Moore (D): $6,493,553 Dan Cox (R): $136,092
Outstanding obligations Wes Moore (D): $0 Dan Cox (R): $147,889

Maryland Gov. Wes Moore (left) Republican Dan Cox (right)

Moore raised more than 10 times as much net money as Cox during the reporting period and spent more than 25 times as much. Despite spending nearly $1.75 million, Moore’s cash balance fell by only about $25,500, leaving his $6.49 million war chest almost untouched.

Cox’s report contains one encouraging sign for the Republican: his cash balance grew from roughly $30,000 to $136,000 during the period as contributions and new borrowing outpaced spending.

But the campaign reported approximately $145,450 in outstanding loans and another $2,439 in obligations. Taken together, those obligations exceed Cox’s cash balance by roughly $11,800.

The filing shows Cox spending at a far smaller scale, with larger expenses including yard signs, a $5,100 television expenditure, campaign staff and accounting.

The reports illustrate the difference:

Moore recorded approximately 18,000 monetary-contribution transactions, compared with 657 for Cox.
About 78% of Moore’s transactions were for $25 or less, reflecting a large small-dollar operation.
Moore also reported 74 separate $6,000 donations, the maximum under Md. law; Cox reported four.

Moore defeated Cox by more than 32 percentage points in 2022, winning nearly 1.3 million votes to Cox’s 644,000 — a margin of almost 650,000 votes. Official Maryland results

Cox secured this year’s Republican nomination with 43.3% in a crowded primary, while Moore won the Democratic primary with 88.3%. Official 2026 primary results

The Source: Information in this article comes from Maryland State Board of Elections.

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Wes Moore holds nearly 48-to-1 cash advantage over Dan Cox in Maryland rematch