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Notes -
My understanding of the political science consensus is basically that: funds raised is just another way to measure popularity like polling numbers (with the obvious skew of people with more money and more willing to give it to candidates getting weighted heavier); the actual things the money is spent on doesn't seem to make a huge impact on election results.
As the other commenters mention, this might not be true in narrow situations like early on in a primary to a non-well-known candidate.
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