There is widespread agreement in the literature that, despite the financing of politics having existed for decades, the topic remains a complex research subject. Scholarly attention has mainly focused on how political contestants are financed, and the field is relatively new. This paper looks at political funding regimes, which refers to funding types and the rules and procedures established for money flows into and out of a political system. It also deals with the transformation of political funding over time. It argues that the trajectory of change in political funding is not only the result of diminishing traditional sources of funding; it is also a consequence of the political interests of those who supply the funding and of political parties and candidates who are the target beneficiaries of the funding. In addition, two equally fundamental factors come into play. The first is declining public trust in political parties, which were previously considered the cornerstone of electoral democracy. The second is a combination of the sheer failure of the state to democratically perform (i.e. the recession of the legitimacy of the state) along with the erosion of freedoms, justice, constitutionalism, and rule of law (democratic recession).