As the 2024 presidential election draws nearer, a notable trend is reshaping the campaign: a dramatic increase in political donations, many from first-time donors.
For example, shortly after President Biden's surprise withdrawal from the 2024 presidential race last month, he endorsed Vice President Kamala Harris for the Democratic nomination. Within hours, the Harris campaign amassed nearly $50 million in small-dollar donations through the online fundraising platform ActBlue. (Data show that fundraising day was the most successful for the site and donations reached $81 million in the first 24 hours.)
