Short Answer

The market expects Su Chiao-hui will not win the New Taipei mayoral election, pricing her probability at 11.0%.

1. Market Behavior & Drivers

No specific development in the provided materials coincides with the sharp drop in this market between September 18 and September 21, 2026. During this period, the probability of a "Yes" outcome fell from 29.0% to 11.0%.
The primary political event noted, Lee Shu-chuan's victory in the KMT-TPP primary, was secured in April 2026. This predates the market activity shown in the sample data, which begins in September 2026. The market's overall downward trajectory suggests a steady erosion of perceived chances for the candidate in question, but the proximate cause for the most significant price move is not apparent from the information supplied. The sample data shows zero volume on the days of these price changes, which may indicate shifts in the order book rather than executed trades driven by new information.
  • Lee Shu-chuan leads, driven by a solidified KMT-TPP coalition mobilizing support.
  • Lee Shu-chuan's campaign may gain from KMT Chair Cheng Li-wun's potential endorsement.
  • Lee Shu-chuan's platform prioritizes societal issues and infrastructure development.

Who Wins and Why

Outcome Market Model Why
Su Chiao-hui 11.0% 15.6% Su Chiao-hui has been gaining some momentum, narrowing the polling gap in recent weeks.
Lee Shu-chuan 71.0% 84.4% Lee Shu-chuan has consistently polled ahead, enjoying strong support from the incumbent party.

Current Context

The 2026 New Taipei mayoral election is scheduled for November 28. The election has not yet taken place; it is part of Taiwan's local "nine-in-one" elections [1][2][3][4].
Key candidates are Lee Shu-chuan and Su Chiao-hui. Lee Shu-chuan, representing the KMT with TPP support, secured the joint KMT-TPP nomination through a primary victory in April 2026 [5][6][7][8][9]. Su Chiao-hui is the candidate for the DPP [5].
The New Taipei mayoral race is now highly competitive. Initially, some polls and prediction markets indicated Lee Shu-chuan as a strong frontrunner [10][11][12][13]. However, recent analysis and various polls, as of September 2026, suggest the race has tightened considerably, with experts describing it as either highly competitive or a "toss-up" [14][15][16][17][18]. For example, one poll showed Su Chiao-hui ahead of Lee Shu-chuan 35.2% to 34.7% [14], while another reported Lee Shu-chuan leading Su Chiao-hui 39.8% to 33.1% [15].
Sources (18)
  1. 12026 Taiwanese local elections - Wikipediaen.wikipedia.org
  2. 2Local elections set for Nov. 28 with 19.65 million eligible voters - Taipei Timestaipeitimes.com
  3. 3Nov. 28 set as voting day for Taiwan's 2026 local electionstaipeitimes.com
  4. 4Taiwan's 2026 Local Elections: (1) Previewing the Raceskharistempleman.com
  5. 52026 local elections: County, city head candidates - Focus Taiwanfocustaiwan.tw
  6. 6Lee Shu-chuan wins KMT-TPP primary for New Taipei City mayoral race - Taipei Timestaipeitimes.com
  7. 7KMT, TPP choose New Taipei City mayor candidate - Taipei Timestaipeitimes.com
  8. 8Lee Shu-chuan picked as New Taipei mayoral candidate - Formosa Newsenglish.ftvnews.com.tw
  9. 9Donovan’s Deep Dives: New Taipei City mayoral race heats up - Taipei Timestaipeitimes.com
  10. 10New Taipei Mayor Election Winnerpolymarket.com
  11. 11New Taipei Mayor Election Winnerpolymarket.com
  12. 12New Taipei Mayor Election Winnerpolymarket.com
  13. 13Will Lee Shu-chuan win the next New Taipei Mayor election? | Paritypredictparity.com
  14. 14信民民調/新北對決咬很緊!蘇巧慧35.2%領先李四川34.7%news.tvbs.com.tw
  15. 15新北藍營民調 李四川39.8%領先蘇巧慧33.1%: 美麗島電子報my-formosa.com.tw
  16. 16Taiwan's 2026 Local Elections Preview (5) -- Summing Up - Kharis Templeman (祁凱立)kharistempleman.com
  17. 17記者 梅花新聞網 編輯部/綜合報導 | 小笠原連兩天點名關鍵戰區:新北陷拉鋸 嘉義、彰化、宜蘭及竹縣 | 梅花新聞網i-meihua.com
  18. 18選舉勝負在新北!她曝民進黨雙北聯合戰略:「洋流外溢」新北翻盤就是大贏 | 選舉 | Newtalk新聞newtalk.tw

2. Price Chart

Historical Price (Probability)

Outcome probability
Date

3. Significant Price Movements

Notable price changes detected in the chart, along with research into what caused each movement.

📉 September 21, 2026: 78.0pp drop

Price decreased from 89.0% to 11.0%

Outcome: Su Chiao-hui

What happened: Traditional news reports from early to mid-September 2026 consistently indicated that Su Chiao-hui was trailing her opponent, Lee Shu-chuan, in AI-simulated polls for the New Taipei mayoral election [1]. For instance, reports on September 15, 2026, showed Su Chiao-hui with 31.5% support compared to Lee Shu-chuan's 37.9%, a 6.4 percentage point deficit [1]. These ongoing traditional news reports, preceding and coinciding with the September 21, 2026 price movement, likely served as the primary driver, correcting an overly optimistic market perception of Su Chiao-hui's chances. Social media activity could not be identified from the provided sources.

📈 September 20, 2026: 60.0pp spike

Price increased from 29.0% to 89.0%

Outcome: Su Chiao-hui

What happened: The provided web research does not indicate any specific social media activity, traditional news, or announcements released on September 20, 2026, that would explain a 60.0 percentage point spike for Su Chiao-hui in the New Taipei mayoral election market [2]. While AI-based polling throughout September 2026 generally showed her KMT rival, Lee Shu-chuan, leading, one opinion poll did put Su Chiao-hui 5.6% ahead [2]. However, the timing of this specific poll's release relative to the market movement is not provided, and no other significant drivers or market factors are identified for that date. Therefore, a primary driver for this movement cannot be definitively determined from the available information, and social media activity is irrelevant due to its absence in the findings.
Sources (2)
  1. 12026新北市長最新AI民意模擬!李四川37.9%、蘇巧慧31.5% 差距6.4個百分點 | 中天新聞網ctinews.com
  2. 2新北、新竹陷激烈選戰!TPOC預估得票率曝光 - 生活新聞 - PChome Online 新聞news.pchome.com.tw

4. Market Data

Contract Snapshot

This market resolves based on the winner of the New Taipei mayoral election. A "Yes" contract for a specific candidate resolves positively if that candidate is declared the winner, and a "No" contract resolves positively if they are not. The election event is set to occur by November 28th, 12:00 AM EST. No special settlement conditions are explicitly stated.

Available Contracts

Market options and current pricing

Outcome bucket Yes (price) No (price) Last trade probability
Lee Shu-chuan $0.75 $0.98 71%
Su Chiao-hui $0.35 $0.73 11%

Market Discussion

The New Taipei mayoral election is scheduled for November 28, 2026, with KMT-backed Lee Shu-chuan contesting against DPP candidate Su Chiao-hui [1][2][3][4]. Lee Shu-chuan appears to be the favorite, with an 81% share on prediction markets and a lead in some polling simulations [5][6]. However, the race remains genuinely competitive, as other projections show a very narrow margin and a substantial number of undecided voters [7][8][3].

Sources (8)
  1. 1CEC announces Nov. 28 election of 11,051 local officials - Focus Taiwanfocustaiwan.tw
  2. 2Nov. 28 set as voting day for Taiwan's 2026 local electionsfocustaiwan.tw
  3. 3Lee Shu-chuan wins KMT-TPP primary for New Taipei City mayoral race - Taipei Timestaipeitimes.com
  4. 4Lee Shu-chuan picked as New Taipei mayoral candidate - Formosa Newsenglish.ftvnews.com.tw
  5. 5New Taipei Mayor Election Winnerpolymarket.com
  6. 62026新北市長最新AI民意模擬!李四川37.9%、蘇巧慧31.5% 差距6.4個百分點 | 中天新聞網ctinews.com
  7. 7新北、新竹陷激烈選戰!TPOC預估得票率曝光 - 生活新聞 - PChome Online 新聞news.pchome.com.tw
  8. 8【TPOC選情預測網正式上線】2026縣市長選戰開打!國民黨暫居14縣市優勢、民進黨7縣市領先tpoc.com.tw

5. Trust Index

Octagon Trust Index Kalshi 75 Good

Primary risk· Trade quality

How it adds up
Integrity80% of score93Strong
Trade quality20% of score5Avoid
Trust score75Good

Weighted blend with hard caps — a critically weak safety pillar, or a severe trading anomaly, caps the total regardless of the rest. Full methodology · About the Trust Index

Trust profile
Integrity4 screens run · 6 don't apply

6. How do Lee Shu-chuan's and Su Chiao-hui's platforms compare on key 2026 New Taipei voter issues?

Lee's Stadium PlanMajor domed stadium in Shulin within eight years [1]
KMT/TPP Joint PlatformSocial housing expansion, stable energy supply, digital transition/AI for SMEs [2][3]
Su's Campaign FocusPopulation aging, youth welfare, demographic decline [4][3]
Lee Shu-chuan's platform prioritizes societal issues and infrastructure development. His campaign, conducted in joint effort with the Taiwan People's Party (TPP), addresses critical issues such as the declining birth rate, an aging population, and the expansion of public childcare services [1][2][3]. Lee's individual pledges include a 'Sports City 2.0' plan, promising a major domed stadium in Shulin within eight years, alongside the establishment of an AI tech corridor [1]. The KMT and TPP joint platform further focuses on expanding social housing, ensuring a stable energy supply, and facilitating digital transition and AI adoption for small and medium-sized enterprises (SMEs) [2][3].
Su Chiao-hui's campaign focuses on social challenges and youth welfare. Her platform particularly emphasizes population aging, youth welfare, and strategies to address demographic decline [4][3]. Su's campaign draws significant support from senior figures within the Democratic Progressive Party (DPP) [4][3].
Sources (4)
  1. 1New Taipei mayoral candidate Lee promises new dome within 8...rti.org.tw
  2. 2KMT and TPP present joint election platform - Taiwan Newstaiwannews.com.tw
  3. 3Taiwan's 2026 local elections test the opposition allianceeastasiaforum.org
  4. 4Su Chiao-hui leads rivals in latest New Taipei mayoral polltaiwannews.com.tw

7. What polling data from Q3 and Q4 2026 supports the narrative of a tightening race between Lee Shu-chuan and Su Chiao-hui?

Su Chiao-hui Lead (Sept 1)0.5 percentage points (35.2% to 34.7%) [1]
Lee Shu-chuan Lead (Sept 8 AI)4.2 percentage points (36.9% to 32.7%) [2]
Lee Shu-chuan Lead (Sept 15 AI)6.4 percentage points (37.9% to 31.5%) [3]
Polling data from Q3 2026 supports a tightening race between candidates. As of September 21, 2026, there is no completed Q4 polling data available, as Q4 begins in October [4]. However, Q3 data supports the narrative of a tightening race between Lee Shu-chuan and Su Chiao-hui [3][2][5][1]. The strongest direct evidence for this comes from a September 1 survey commissioned by the Taipei Hsinmin Association, which found Su Chiao-hui leading Lee Shu-chuan 35.2% to 34.7%, a narrow margin of only 0.5 percentage points [1].
Additional Q3 polls and simulations show a close, yet not evenly matched, race. Further indicating a narrow contest, a September 8 TPOC AI simulation showed Lee leading 36.9% to 32.7%, a 4.2-point difference, while Su had a slightly higher favorability rating (35.7% versus 34.7%) [2]. The September 15 TPOC AI simulation continued to show a relatively close race, with Lee at 37.9% and Su at 31.5%, a 6.4-point Lee advantage, and close favorability ratings [3]. The broader Q3 polling record was directionally mixed, with Lee leading by 6.9 points in a July TVBS poll and by 6.7 points in a late August TVBS survey, contrasted with Su's lead in the September 1 Hsinmin survey [6][5][1]. This Q3 data supports the idea of a 'tightening' race, as Su is within a few points in multiple recent surveys, has led one survey, and enjoys comparable or better favorability [3][2][5][1]. However, it does not support the conclusion that the candidates are 'evenly matched,' because conventional and later September results generally show Lee ahead by roughly 4–7 points, and prediction markets still strongly favor Lee [3][2][5][1][7][8].
Sources (8)
  1. 1新北李四川與蘇巧慧陷拉鋸 藍憂蔡英文效應抵消討厭蘇貞昌 | 縣市長議員選戰 | 要聞 | 聯合新聞網udn.com
  2. 2AI民意模擬新北選戰:李四川險勝蘇巧慧 好感度卻相反 | 縣市長議員選戰 | 要聞 | 聯合新聞網udn.com
  3. 3AI民意模擬新北市長選戰 李四川領先蘇巧慧6.4個百分點 | 縣市長議員選戰 | 要聞 | 聯合新聞網udn.com
  4. 42026 local elections: County, city head candidates - Focus Taiwanfocustaiwan.tw
  5. 5藍營發布新北市長民調 李四川領先6.7百分點、40歲成分水嶺 | 縣市長議員選戰 | 要聞 | 聯合新聞網udn.com
  6. 6新北熱戰 藍營民調曝李四川贏蘇巧慧6.9% | 2026九合一選舉udn.com
  7. 7New Taipei Mayor Election Winnerpolymarket.com
  8. 8New Taipei mayoral election winner? - Kalshi oranları | CoinRithmcoinrithm.com

8. What potential endorsements or campaign events could act as major catalysts for either candidate before the November 28 vote?

Key EndorsementsEndorsements from KMT Chair Cheng Li-wun are important for KMT candidates [1][2][3]
Strategic Campaign EventsJoint campaign appearances with influential family members and senior party officials can mobilize support [2][4][5][6]
Policy & Local IssuesSuccessful policy announcements (e.g., inter-city cooperation) and public debates on local concerns like housing and employment can sway voters [1][2][7][8][9][10][11]
Key endorsements and strategic events could significantly boost candidate support. For KMT candidates, endorsements from KMT Chair Cheng Li-wun would be significant [1][2][3]. A female candidate could benefit substantially from joint campaign appearances with her influential father and active support from President Lai Ching-te and other high-ranking DPP officials, leveraging her family's political legacy and mobilizing the party base [2][4][5][6]. Additionally, a unified policy platform showcasing opposition cohesion and successful policy announcements, particularly those highlighting cooperation with Taipei and directly benefiting New Taipei residents, could enhance a candidate's appeal [1][2][12][13][14]. Developments related to the "Keelung–New Taipei–Taipei–Taoyuan Cooperation and Exchange Platform," which addresses inter-city issues, might also influence public perception, especially for candidates emphasizing regional collaboration [7]. Public debates focusing on critical local issues such as housing affordability, environmental sustainability, childcare, elderly care, and youth employment are vital for swaying undecided voters [1][8][9][10][7][11].
Broader influences and unforeseen missteps significantly shape campaign dynamics. Shifts in online public opinion, viral social media campaigns, and influential media coverage can profoundly shape voter perceptions [15]. Heightened political polarization and external influence operations, including potential cognitive warfare or economic incentives from Beijing, might unexpectedly elevate cross-Strait relations as a catalytic issue, impacting voter sentiment on national identity and security [16][17]. Conversely, any significant missteps, gaffes, or newly uncovered controversies related to either candidate or their close associates could act as major negative catalysts, potentially altering the electoral landscape [1][17].
Sources (17)
  1. 1taiwannews.com.tw
  2. 2taipeitimes.com
  3. 3taipeitimes.com
  4. 4taiwannews.com.tw
  5. 5facebook.com
  6. 6theyoungdiplomats.com
  7. 7ndc.gov.twncsd.ndc.gov.tw
  8. 8csis.org
  9. 9uclg-cisdp.org
  10. 10ntpc.gov.twforeigner.ntpc.gov.tw
  11. 11globalcovenantofmayors.org
  12. 12focustaiwan.tw
  13. 13taipeitimes.com
  14. 14facebook.com
  15. 15arxiv.org
  16. 16globaltaiwan.org
  17. 17heritage.org

9. What historical voter turnout data for New Taipei's districts is being used to model the 2026 election outcome for the KMT and DPP?

Primary driver 1Polling data [1][2]
Primary driver 2Opposition consolidation (KMT-TPP alliance) [1][2]
Primary driver 3Candidates' administrative records [1][2]
Public prediction markets for New Taipei's 2026 election lack specific turnout models. The specific prediction market for the 2026 New Taipei mayoral election does not appear to be primarily driven by specific, publicly disclosed district-level voter turnout models [1][2]. There is no public evidence indicating that this particular prediction market relies on a proprietary or unique district-level turnout model, nor does it publicly show reliance on historical voter turnout data from the Central Election Commission (CEC) for modeling outcomes, despite such data being utilized by academic research and political analysts in Taiwan [3][4][5][6][7].
Other key factors influence New Taipei's mayoral election predictions. Instead, the prediction markets for the New Taipei mayoral election are primarily driven by other elements. These include general polling data, the consolidation of the opposition, such as a potential Kuomintang (KMT) and Taiwan People's Party (TPP) alliance, and the administrative records of the candidates [1][2]. These factors are understood to be the main influences shaping the market's predictions for the upcoming election [1][2].
Sources (7)
  1. 1New Taipei Mayor Election Winnerpolymarket.com
  2. 2New Taipei Mayor Election Winnerpolymarket.com
  3. 3(PDF) Electoral Cycles, Concurrent Elections and Voter Turnoutresearchgate.net
  4. 4Conflicted voter and turnout in Taiwan's presidential electionscambridge.org
  5. 5The Effect of District Legislators on Presidential Voting in Taiwanjournals.sagepub.com
  6. 6Political Participation in Taiwan - jstorjstor.org
  7. 7[PDF] Does district magnitude matter? The case of Taiwan - Carlisle Raineycarlislerainey.com

10. What evidence from campaign activities indicates the effectiveness of the KMT-TPP coalition in mobilizing support for Lee Shu-chuan?

Primary Election DateApril 2026 [1][2][3][4][5]
Lee Shu-chuan Poll39.8% (late August 2026 TVBS poll) [1][3][4]
Su Chiao-hui Poll33.1% (late August 2026 TVBS poll) [1][3][4]
The KMT-TPP coalition formed to consolidate opposition for New Taipei mayor. The Kuomintang (KMT) and Taiwan People's Party (TPP) solidified their alliance for the 2026 New Taipei mayoral election by holding a coordinated primary in April 2026 [1][2][3][4][5]. Lee Shu-chuan defeated TPP Chairman Huang Kuo-chang in this primary [1][2][3][4][5]. Following his defeat, Huang Kuo-chang suspended his mayoral bid, pledged his full support to Lee Shu-chuan, and announced that his campaign headquarters would serve as a joint base for TPP city councilor candidates and Lee's mayoral campaign [3][4][5]. Lee Shu-chuan is now positioned as the primary opposition challenger, supported by promises of shared governance and the recruitment of TPP talent [1][2][6].
Polling and prediction markets indicate the coalition effectively consolidated support. The coalition's effectiveness in mobilizing support is evidenced by polling data and favorable prediction market sentiment, which show consolidated TPP support [1][3][4]. A TVBS poll conducted in late August 2026 showed Lee Shu-chuan leading with 39.8% compared to 33.1% for Democratic Progressive Party candidate Su Chiao-hui [1][3][4]. Furthermore, trader sentiment on prediction markets consistently favors Lee Shu-chuan due to the successful consolidation of opposition votes [1][3][4].
Sources (6)
  1. 1New Taipei Mayor Election Winnerpolymarket.com
  2. 2New Taipei Mayor Election Winnerpolymarket.com
  3. 3KMT-TPP alliance backs Lee Shu-chuan for New Taipei mayor race - Focus Taiwanfocustaiwan.tw
  4. 4Lee Shu-chuan wins KMT-TPP primary for New Taipei City mayoral race - Taipei Timestaipeitimes.com
  5. 5KMT, TPP choose New Taipei City mayor candidate - Taipei Timestaipeitimes.com
  6. 6Vencedor da nova eleição para presidente da câmara de Taipeipolymarket.com

11. What Could Change the Odds

Key Catalysts

The 2026 New Taipei mayoral election, scheduled for November 28, 2026, as part of Taiwan's local government elections, presents a significant political event [1][2][3][4][5][6][7][8]. The main contenders for the New Taipei mayoralty are Lee Shu-chuan, a KMT/TPP joint candidate, and Su Chiao-hui from the DPP [4][9].
The race is highly competitive, based on current polling and prediction market data. Lee Shu-chuan maintains a lead in several AI-based simulations and prediction market contracts, with probabilities reaching approximately 80% on Polymarket [10][11][12][13][14]. Conversely, traditional polling shows the contest tightening to within the margin of error, occasionally indicating a lead for Su Chiao-hui [10][15]. The divergence between AI simulations/prediction markets and traditional polling suggests potential volatility as the election approaches.
Upcoming dates on the election timeline will serve as key catalysts for market probability shifts. These include the candidate ballot number lottery on October 23, 2026, and the official mayoral campaign period, which runs from November 13 to November 27, 2026 [7][16][8]. These events are likely to influence voter sentiment and campaign momentum.

Key Dates & Catalysts

  • Expiration: November 28, 2027
  • Closes: November 28, 2027
Sources (16)
  1. 12026 Taiwanese local elections - Wikipediaen.wikipedia.org
  2. 2Local elections set for Nov. 28 with 19.65 million eligible voters - Taipei Timestaipeitimes.com
  3. 3Nov. 28 set as voting day for Taiwan's 2026 local electionstaipeitimes.com
  4. 42026 local elections: County, city head candidates - Focus Taiwanfocustaiwan.tw
  5. 5Taiwan sets date for 2026 local municipal electionstaiwannews.com.tw
  6. 6List of elections in 2026 - Wikipediaen.wikipedia.org
  7. 72026 Nine-in-One Elections: Stress Testing Democratic Infrastructure in the Age of AI Cognitive Warfare | Taiwan.mdtaiwan.md
  8. 82026九合一選舉日程出爐!中選會:明年11/28投票|壹蘋新聞網news.nextapple.com
  9. 9Lee Shu-chuan picked as New Taipei mayoral candidate - Formosa Newsenglish.ftvnews.com.tw
  10. 10AI民意模擬新北市長選戰/李四川支持度37.9%領先蘇巧慧6.4個百分點 - 鏡週刊 Mirror Mediamirrormedia.mg
  11. 112026新北市長最新AI民意模擬!李四川37.9%、蘇巧慧31.5% 差距6.4個百分點 | 中天新聞網ctinews.com
  12. 12AI民意模擬新北選戰:李四川險勝蘇巧慧tpoc.com.tw
  13. 13新北市長藍綠對決AI模擬!李四川37.9%領先蘇巧慧31.5% 近2成未決定life.tw
  14. 14New Taipei Mayor Election Winnerpolymarket.com
  15. 15信民民調/新北對決咬很緊!蘇巧慧35.2%領先李四川34.7%news.tvbs.com.tw
  16. 16Taiwan's 2026 Local Elections: (1) Previewing the Races - Kharis Templeman (祁凱立)kharistempleman.com