Kamala Harris is outspending Donald Trump. Will it matter?

Campaign finance has changed dramatically over the past 15 years, but not in ways that many expected. The Supreme Court’s landmark decision in 2010, Citizens United v Federal Election Commission, enabled expansive corporate spending and ignited fears among Democrats that business-friendly Republicans would gain an irreversible advantage. “I don’t think American elections should be bankrolled by America’s most powerful interests,” Barack Obama warned. But two years later Mr Obama out-raised Mitt Romney while winning re-election. Political money rules kept easing, and Democrats kept benefiting. In 2016 Hillary Clinton enjoyed a nearly two-to-one advantage over Donald Trump, and Joe Biden easily out-raised Mr Trump four years ago in the most expensive campaign ever, at nearly $6bn.