In the weeks before Vermont’s primary election last August, operatives working for the Democratic congressional candidate Molly Gray began to grow concerned about seven figures worth of political spending mysteriously accumulating behind her rival, Becca Balint. A super PAC that appeared to have no money had suddenly injected more than $1 million—a massive sum in the tiny Vermont media market—to ensure that Gray, the state’s lieutenant governor, didn’t make it to Congress.
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