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| Market | Platform | Price |
|---|---|---|
Will Democrats win the governorships of Pennsylvania, Michigan, Wisconsin, Georgia, Arizona, AND Nevada? | Kalshi | 40% |
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On Nov 3, 2026 If Democrats win the governorships of ALL of the following states: Pennsylvania, Michigan, Wisconsin, Georgia, Arizona, AND Nevada in 2026, then the market resolves to Yes. This market requires ALL specified candidates/parties/options to win their respective elections for a Yes resolution. If even one loses, the entire market resolves to No. For parliamentary elections, the party with the most seats wins. For referenda, the specified option must achieve the required threshold. Fo
Prediction markets currently assign approximately a 40% probability to Democrats achieving a full sweep of the six critical swing state governorships in 2026. This price, trading at 40 cents on Kalshi, indicates the market views the complete sweep as a significant underdog scenario. A 40% chance suggests the outcome is plausible but faces substantial hurdles, with the consensus leaning toward Republicans winning at least one of these key races.
The primary factor suppressing the "Yes" probability is the historical difficulty of a single party sweeping all competitive statewide elections across such a diverse battleground. Recent electoral cycles show split outcomes, for example, in 2022, Democrats won Michigan, Wisconsin, and Nevada's governorships, while Republicans won Georgia and Arizona. Pennsylvania's governor is a Democrat, but the state remains highly competitive. The 40% price likely reflects a baseline where Democrats are favored in several individual races, but the requirement to win all six compounds risk.
Furthermore, the 2026 election will be a midterm under a presidential administration, either Biden's second term or a new Republican president's first term. Historical patterns of midterm backlash against the incumbent president's party add uncertainty, which is priced into the low probability for a clean sweep by one party.
The odds will be highly sensitive to the national political environment and candidate recruitment. A dominant Democratic political climate in 2025-2026, perhaps driven by economic conditions or a strong issue advantage, could lift these probabilities toward 50% or higher. Conversely, a strong Republican lean would push them lower.
Specific candidate decisions will be major catalysts. Retirements by popular incumbent Democratic governors, like Gretchen Whitmer in Michigan or Josh Shapiro in Pennsylvania, would significantly decrease the sweep odds. Conversely, weak Republican nominees or divisive GOP primaries in states like Arizona or Georgia could improve Democratic chances. The market will likely see increased volatility and volume following the 2024 presidential election, which will set the initial stage for the 2026 midterm narrative.
AI-generated analysis based on market data. Not financial advice.
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This prediction market topic concerns whether the Democratic Party will achieve a complete sweep of gubernatorial elections in six critical swing states during the 2026 midterm elections. The specific states in question are Pennsylvania, Michigan, Wisconsin, Georgia, Arizona, and Nevada. For the market to resolve to 'Yes,' Democratic candidates must win the governorship in all six states. The failure to win even one of these races would result in a 'No' resolution. This topic represents a high-stakes political scenario with significant implications for national politics, state-level policy, and the balance of power heading into the 2028 presidential election cycle. The 2026 gubernatorial elections are particularly consequential as they will determine which parties control executive power and redistricting authority in these pivotal states. Interest in this market stems from its function as a barometer for Democratic Party strength in key battlegrounds following the 2024 presidential election, and its outcome could signal broader electoral trends. Analysts and political observers are closely monitoring these races as early indicators of voter sentiment, party organization, and the effectiveness of campaign strategies in a post-2024 political landscape.
The concept of a party sweeping multiple swing state governorships has historical precedent but represents a significant electoral achievement. In the 2018 midterm elections, Democrats made substantial gains in governor's mansions, flipping seven seats including Michigan, Wisconsin, and Nevada. However, they failed to achieve a complete sweep of all major swing states, losing closely contested races in Florida and Ohio. The 2022 midterms saw Democrats successfully defend vulnerable governorships in Wisconsin, Michigan, and Pennsylvania while losing Nevada to a Republican. This mixed outcome highlights the difficulty of achieving uniform success across diverse swing states with different political cultures and local issues. Historically, complete sweeps of competitive state offices by one party are rare in modern American politics, as voter behavior often varies significantly between states even within the same election cycle. The last time one party held all six of these governorships simultaneously was in 2010, when Republicans controlled five of them (Pennsylvania, Michigan, Wisconsin, Georgia, and Arizona) while Nevada had a Republican governor from 2011-2019. The current partisan division, with Democrats holding four of these six governorships and Republicans holding two, sets the stage for a high-stakes battle over control of these key state executives.
The outcome of these six gubernatorial races carries profound implications for American politics and governance. Governors in these swing states will wield significant influence over the 2028 presidential election through their control of election administration, certification processes, and in some cases, the appointment of presidential electors. Furthermore, the winners will oversee the next round of congressional redistricting following the 2030 census, potentially shaping the balance of power in the U.S. House of Representatives for the following decade. Beyond electoral politics, these governors will determine policy directions on critical issues including abortion access, voting laws, education standards, and healthcare expansion in states representing approximately 25% of the U.S. population. A Democratic sweep would provide the party with unified control of both the legislature and governorship in several key states, enabling more progressive policy agendas. Conversely, even one Republican victory would preserve a check on Democratic policy ambitions in that state and maintain partisan diversity in swing state leadership.
As of late 2024, the political landscape for the 2026 gubernatorial elections is beginning to take shape, though formal candidate declarations remain mostly in the future. In the three states with term-limited Democratic incumbents (Michigan, Wisconsin), potential successors are positioning themselves, while in Arizona, Governor Katie Hobbs has not yet officially announced her re-election plans but is widely expected to run. In Pennsylvania, Governor Josh Shapiro maintains strong approval ratings and is considered a formidable incumbent if he seeks re-election. The Republican-held states present different challenges, with Georgia featuring a crowded Republican primary to replace Brian Kemp and Nevada featuring incumbent Governor Joe Lombardo as a strong favorite for his party's nomination. Early polling in several states shows competitive matchups, with most races within the margin of error, indicating that a Democratic sweep, while possible, would require exceptional political circumstances and campaign execution.
Term limit rules vary by state. Pennsylvania and Wisconsin governors face a two-term limit, while Michigan and Georgia governors are limited to two consecutive terms. Arizona governors have a two-term limit regardless of consecutiveness. Nevada has no term limits for governors, allowing indefinite re-election.
All six states will hold their gubernatorial elections on Tuesday, November 3, 2026. This date aligns with the nationwide midterm elections, which occur every four years between presidential elections.
Currently, Democrats hold the governorships in four of the six states: Pennsylvania (Josh Shapiro), Michigan (Gretchen Whitmer), Wisconsin (Tony Evers), and Arizona (Katie Hobbs). Republicans control the governorships in Georgia (Brian Kemp) and Nevada (Joe Lombardo).
Succession rules vary by state constitution, but typically the lieutenant governor would assume the governorship and serve until the next scheduled election. This could create an incumbent advantage for the succeeding governor in the 2026 election.
In the 2022 election cycle, candidates and outside groups spent approximately $1.2 billion across these six gubernatorial races, with the most expensive being Pennsylvania at over $300 million. Similar or greater spending is expected in 2026.
Educational content is AI-generated and sourced from Wikipedia. It should not be considered financial advice.
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