The Los Angeles Times offers Tickets to Schwarzenegger Fundraiser in New York Will Cost Up to $500,000; Gov. George Pataki helps organize the event to raise money for the California governor’s March 2 ballot measures. The article explains:

California’s campaign finance law caps donations directly to Schwarzenegger at $21,200 from individual contributors.
But the caps do not apply to committees established to support or oppose ballot measures.

See also this report in the San Jose Mercury News.
Could such donations provide enough of a reason to impose contribution limits in ballot measure campaigns following McConnell? Before McConnell, constitutional law was pretty clear that contribution limits to ballot measure campaigns were unconstitutional because they could not be justified by an interest in preventing corruption or the appearance of corruption of federal candidates. (See Citizens Against Rent Control v. City of Berkeley.) It would be interesting to see a state or locality try to do so on this theory.