Campaign finance laws significantly impact elections by regulating how candidates raise and spend money. These laws aim to ensure transparency and limit the potential for corruption in the electoral process. By capping contributions and requiring disclosure of donors, campaign finance regulations attempt to level the playing field, allowing lesser-known candidates a fair chance against well-funded opponents. However, critics argue that such laws can inadvertently restrict free speech and limit grassroots fundraising efforts, thereby favoring established candidates and creating barriers for new entrants in the political arena.