How Big Money Is Dominating American Politics

Record-breaking sums of money are pouring into American politics — from billionaires spending hundreds of millions to dark money groups hiding their donors. These sums have given wealthy interests outsized access and influence — while the Federal Election Commission (FEC), created to enforce campaign finance laws, has become unable to fulfill its mission.

In this episode, host Simone Leeper speaks with former FEC Commissioner Ellen Weintraub, Senator Sheldon Whitehouse and Campaign Legal Center President Trevor Potter. Together, they trace how court rulings like Buckley v. Valeo, Citizens United v. FEC and SpeechNOW v. FEC opened the floodgates to unlimited political spending — and explore reforms that could restore transparency, strengthen the Federal Election Commission and curb the outsized role of big money in our democracy.

Timestamps:

(00:01) — Why was an FEC commissioner suddenly removed?

(03:14) — How much money was spent in the 2024 election cycle?

(07:00) — What campaign finance lessons came out of Watergate?

(09:35) — What was the McCain-Feingold Act, and why did it matter?

(10:45) — How did Citizens United and SpeechNow change U.S. elections?

(13:41) — What is dark money and why is it dangerous?

(15:18) — Why has the FEC failed to enforce campaign finance laws?

(21:48) — How did Elon Musk become the biggest mega-donor in U.S. history?

(24:14) — What government power did Musk gain after funding Trump?

(30:03) — How has campaign finance evolved since Watergate?

(33:41) — What reforms could reduce dark money and strengthen transparency?

(40:57) — What must Congress do now to curb big money in politics?

Host and Guests:

Simone Leeper litigates a wide range of redistricting-related cases at Campaign Legal Center, challenging gerrymanders and advocating for election systems that guarantee all voters an equal opportunity to influence our democracy. Prior to arriving at CLC, Simone was a law clerk in the office of Senator Ed Markey and at the Library of Congress, Office of General Counsel. She received her J.D. cum laude from Georgetown University Law Center in 2019 and a bachelor’s degree in political science from Columbia University in 2016.

Ellen L. Weintraub served as Commissioner and four-time Chair of the U.S. Federal Election Commission from 2002 to 2025. There, she advocated for meaningful campaign-finance law enforcement and robust disclosure and strove to combat "dark money" and foreign influence in our elections. She has been a critic of the system that gives disproportionate influence to billionaire donors and has refuted unfounded claims of voter fraud. On February 6, 2025, she was informed that the President was removing her from office.

A graduate of Yale College and Harvard Law School, Weintraub has published articles in The New York Times, The Washington Post and leading law reviews and is a frequent speaker on news shows and at conferences at home and abroad. Previously, she practiced law at Perkins Coie LLP and was Counsel to the U.S. House of Representatives Ethics Committee.

Sheldon Whitehouse represents Rhode Island in the U.S. Senate. Senator Whitehouse serves as a senior member of the Judiciary Committee and the Ranking Member of the Senate Judiciary Courts Subcommittee.

Trevor Potter is President of the nonpartisan Campaign Legal Center. A Republican former Chairman of the Federal Election Commission (FEC), Trevor was general counsel to John McCain’s 2000 and 2008 presidential campaigns and an adviser to the drafters of the McCain-Feingold campaign finance law. To many, he is perhaps best known for his recurring appearances on The Colbert Report as the lawyer for Stephen Colbert’s super PAC, Americans for a Better Tomorrow, Tomorrow, during the 2012 election, a program that won a Peabody Award for excellence in reporting on money in politics.

The American Bar Association Journal has described Trevor as “hands-down one of the top lawyers in the country on the delicate intersection of politics, law and money.” He has provided testimony and written statements to Congress on federal election proposals, campaign finance regulation and, recently, the effects of the January 6th attack on our democracy. During the 2020 election season, Trevor was named to the cross-partisan National Task Force on Election Crises.

Links:

Democracy Decoded: Season 1, Episode 4 – CLC

How Does the Citizens United Decision Still Affect Us in 2025? – CLC

Dark Money Groups Are Pumping Millions Into the 2024 Election – CLC

Elon Musk Stands to Gain Even More Wealth by Serving in Trump’s Administration – CLC

New CLC Report Examines FEC’s Role in Letting Big Money Dominate Elections – CLC

From Dysfunctional to Destructive (FEC Report) – CLC

The Impact of Big Money and Secret Spending on Trump’s Second Inauguration – CLC

Have Wealthy Donors Bought the Trump Administration? – CLC

Preventing Wealthy Special Interests from Using Shell Companies to Keep Their Political Spending Secret (Case Page) – CLC

Opposing Special Interest Loopholes in Campaign Finance Law Enforcement — ECU v. FEC (Rick Scott Appeal - Case Page) – CLC

CLC Steps Up to Promote Enforcement of Federal Campaign Finance Law (Case Page) – CLC

Defending Federal Limits on Corporate Spending in Elections (Citizens United v. FEC - Case Page) – CLC

Campaign Legal Center Releases New Report on the FEC’s Deregulatory Trend – CLC

The Agency That’s Supposed To Provide Election Oversight Badly Needs Oversight – CLC

Campaign Legal Center Letter Responds to President Trump’s Unlawful Attempt to Exert Control Over the FEC – CLC

About CLC:

Democracy Decoded is a production of Campaign Legal Center, a nonpartisan nonprofit organization dedicated to solving the wide range of challenges facing American democracy. Campaign Legal Center fights for every American’s freedom to vote and participate meaningfully in the democratic process. Learn more about us.

Democracy Decoded is part of The Democracy Group, a network of podcasts that examines what’s broken in our democracy and how we can work together to fix it.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.