After two months on the campaign trail, the fundraising efforts of two Democratic candidates for Vermont’s lieutenant governor position are quite similar, according to the latest financial disclosures. Together, Molly Gray and Ryan McLaren have raised approximately $325,000, far surpassing the fundraising for any other statewide races thus far.

As reported, McLaren, who has previously worked as an aide to Senator Peter Welch, accumulated $156,000 by last week, marking the conclusion of the campaign finance reporting period that covered from July 2025 until mid-March. Residing in Essex Junction, this is McLaren’s first attempt to secure a state-level office. His fundraising efforts are closely matched by Gray, a former lieutenant governor, who raised $155,500 during the same timeframe. This marks an increase of around $53,000 compared to her fundraising during her previous run for the same office in 2020.

Esther Charlestin, also a Democratic contender for the lieutenant governor position, has raised around $13,000 thus far in her campaign. The South Burlington resident previously ran for governor last year against Republican Phil Scott during the 2024 election cycle. All three Democrats officially announced their candidacies in January.

The recent filings revealed their expenditures as well: McLaren has spent $35,600, while Gray and Charlestin have expended $16,400 and $4,700, respectively. In a notable development, two former Democratic governors have publicly supported different candidates, with Peter Shumlin backing McLaren and Howard Dean endorsing Gray.

The March 15 deadline for financial reporting offers insight into candidate support across Vermont, although it is not exhaustive. Candidates seeking nomination for state-level offices have until late May to declare their intentions. The winner of the Democratic primary is set to challenge the current lieutenant governor, Republican John Rodgers, in the November general election. At this point, no other Republican candidates have declared their intention to run. Rodgers has reported raising $36,700.

The fundraising dynamics for the lieutenant governor position have significantly outpaced those for the gubernatorial race. As of Monday, Amanda Janoo is the sole contender to announce a 2026 campaign for the governor’s role, having raised $80,300 at the same reporting stage. This figure is significantly higher than Charlestin’s $6,300 during her campaign against Scott in 2024 at this time. It remains uncertain whether Janoo will face any competitors in the upcoming Democratic primary for governor. Republican Governor Phil Scott has not yet indicated whether he will pursue a sixth term.

Interestingly, Janoo’s support includes backing from Christine Hallquist, a Democrat who previously ran against Scott in 2018. Scott’s recent fundraising efforts are modest compared to Janoo’s, as he raised only $2,400 from July 2025 through mid-March, whereas he had raised $13,200 at the same point in his 2024 campaign. Furthermore, while Scott has nearly $200,000 on hand, questions arise about whether he will need those funds to counteract potential challenges from Democrats or to assist other Republican candidates.

So far, the only competitive Democratic primary for state-level office other than the lieutenant governor race is for state auditor. Tim Ashe, the deputy auditor, has raised $53,100, while Nicholas Graeter has only $500 in contributions.

There are also uncertainties surrounding other incumbents, such as Michael Pieciak, the state treasurer, who has not announced whether he will run again but raised approximately $57,800 during the most recent reporting period. Likewise, Charity Clark, the attorney general, garnered about $80,700 but has not declared her candidacy for reelection. Sarah Copeland Hanzas, Vermont’s secretary of state, who is running for reelection, raised $4,500 recently.

In addition to these gubernatorial and lieutenant governor races, candidates for state Senate and House positions have submitted their financial disclosures as well. Notably, Nikhil Goyal, a professor at the University of Vermont from Burlington, reported raising $86,200, while Essex Junction City Councilor Elaine Haney brought in $38,700 as they vie for an open seat in the Chittenden Central Senate district, following Phil Baruth’s announcement of retirement.