Running & OUTraising Expectations

Research on LGBTQ political representation has largely focused on voter attitudes and electoral outcomes, overlooking the role of campaign finance in shaping who is able to run for office. Drawing on intersectionality theory, this study examines fundraising as a gatekeeping mechanism that structures political opportunity for LGBTQ candidates. Using campaign finance and electoral data from state legislative and congressional elections, I analyze patterns of candidate emergence, fundraising, competition, and electoral success across LGBTQ candidates by race, gender identity, and sexual orientation. Findings reveal a paradox: LGBTQ candidates who enter races often demonstrate strong fundraising performance and high electoral success, yet they remain severely underrepresented among those who run for office. Significant disparities also exist within the LGBTQ candidate pool, with white, cisgender, gay, and lesbian candidates generally raising more money than transgender, nonbinary, bisexual, pansexual, and many candidates of color.