Campaign finance laws affect political competition by regulating the sources and amounts of money candidates can raise and spend during elections. These laws aim to prevent corruption and ensure fair competition, but they can also create inequities. Wealthy candidates or interest groups may still find ways to exert influence through super PACs and dark money, skewing the playing field. Stricter regulations can mitigate these issues, but debates about the impact of money in politics continue, raising questions regarding the integrity of democracy and the representation of diverse interests.