Short Answer

Both the model and the market expect Jocelyn Benson to be the Michigan Democratic Governor nominee, with no compelling evidence of mispricing.

1. Market Behavior & Drivers

This market has demonstrated a brief, significant price drop followed by a period of inactivity. The contract opened with a 1.0% probability, but quickly fell to 0.1% where it has since remained. The overall trend is sideways at this floor price, indicating a complete lack of upward momentum since its inception. Given the absence of any specific news or contextual developments, the initial decline from 1.0% to 0.1% cannot be attributed to a particular event. It likely reflects the initial market-setting activity where early sellers established a low price point.
The trading volume provides insight into market conviction, which is currently very low. A total of only 246 contracts have been traded, suggesting limited participation and liquidity. The initial price drop occurred on a small volume of 51 contracts, highlighting how easily the price was moved in this illiquid environment. The subsequent lack of significant volume indicates that traders have shown little interest in buying or selling at the current price, reinforcing the market's stagnant nature.
From a technical perspective, the price has established a clear support level at the 0.1% floor, which is the lowest price it has traded. The opening price of 1.0% acted as an immediate, albeit weak, resistance level that was never retested. Overall, the price action suggests a strong consensus of negative market sentiment. Traders are currently assigning a negligible probability to this outcome, with the price flatlining at its lowest possible value amid minimal trading interest.
  • Jocelyn Benson leads early gubernatorial polling and controls the Democratic base.
  • Benson has secured significant fundraising, totaling $4.7 million for her campaign.
  • No candidate holds public endorsements from top Michigan Democratic county chairs.
  • Declared candidate Chris Swanson significantly trails Jocelyn Benson in early polling.
  • Garlin Gilchrist withdrew; Mallory McMorrow pursues U.S. Senate; Buttigieg is not running.
  • Pete Buttigieg officially established Michigan residency in July 2022.

Who Wins and Why

Outcome Market Model Why
Jocelyn Benson 89.0% 92.5% Model higher by 3.5pp
Chris Swanson 6.7% 6.8% Model higher by 0.1pp
Pete Buttigieg 0.1% 0.1% Model and market aligned
Garlin Gilchrist 0.1% 0.1% Model and market aligned
Mallory McMorrow 0.1% 0.1% Model and market aligned

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.

📉 April 16, 2026: 9.0pp drop

Price decreased from 20.0% to 11.0%

Outcome: Chris Swanson

What happened: No supporting research available for this anomaly.

4. Market Data

Contract Snapshot

This market resolves to 'Yes' if Jocelyn Benson wins the Democratic Party nomination for the 2026 Michigan Governorship; otherwise, it resolves to 'No'. The market opened on December 12, 2024, at 10:00 AM EST and will close either upon her nomination or by November 3, 2026, at 10:00 AM EST, with payouts projected 5 minutes after closing. The event is mutually exclusive, and various individuals, including public office holders and campaign staff, are prohibited from trading.

Available Contracts

Market options and current pricing

Outcome bucket Yes (price) No (price) Last trade probability
Jocelyn Benson $0.89 $0.12 89%
Chris Swanson $0.07 $0.93 7%
Dan Kildee $0.01 $1.00 0%
Garlin Gilchrist $0.01 $1.00 0%
Joe Tate $0.01 $1.00 0%
Mallory McMorrow $0.01 $1.00 0%
Mark Hackel $0.01 $1.00 0%
Pete Buttigieg $0.01 $1.00 0%
Winnie Brinks $0.01 $1.00 0%

Market Discussion

Traders overwhelmingly anticipate Jocelyn Benson to be the Michigan Democratic Governor nominee, with her probability currently at 89%. Discussions highlight strong support for Benson, with one trader noting her consistent lead in polls. Conversely, Pete Buttigieg is deemed highly unlikely, primarily due to his Indiana residency and the expectation that other strong candidates with local ties, potentially backed by Governor Whitmer, will emerge.

5. Who Filed First for Michigan Governor: Gilchrist or Benson?

Garlin Gilchrist Filing DateMarch 6, 2025 [1]
Jocelyn Benson Campaign StatusGubernatorial campaign established; announced $4.7 million fundraising [2]
First to File a Statement of OrganizationGarlin Gilchrist (based on available data) [3]
Lieutenant Governor Garlin Gilchrist was the first to file for governor. He officially filed a statement of organization for a gubernatorial campaign committee with the Michigan Bureau of Elections on March 6, 2025, for the 2026 Michigan gubernatorial race [3]. Although Gilchrist later ended his gubernatorial campaign, subsequently seeking the Secretary of State role [4], his initial filing for governor predates any specified filing date for Jocelyn Benson in the provided materials.
Secretary of State Jocelyn Benson's filing date remains unspecified in the available sources. She has established a "Jocelyn Benson for Governor" campaign [2], which announced raising a record-breaking $4.7 million since its launch [5]. However, the exact date of her initial statement of organization for a gubernatorial campaign committee is not provided. Based on the explicit filing date available for Garlin Gilchrist, he was the first of the two presumed top-tier candidates to take this formal step.
Sources (5)
  1. 1Lt. Gov. Garlin Gilchrist forms committee to run for Michigan governordetroitnews.com
  2. 2Jocelyn Benson for Governorjocelynbenson.com
  3. 3Who's running for Michigan governor: LG Garlin Gilchrist files paperworkbridgedetroit.com
  4. 4Lt. Gov. Garlin Gilchrist ends run to replace Whitmer, seeks Secretary of State role - mlive.commlive.com
  5. 5Jocelyn Benson for Governorjocelynbenson.com

6. Can Whitmer's Top Donors to Other Campaigns Be Tracked?

Whitmer 2022 Top DonorsIdentifiable via OpenSecrets [1]
Gilchrist 2024 Donor DataAvailable for 'Garlin Gilchrist for Lieutenant Governor' committee [2], [3]
Benson PAC FundsApproximately $1 million as of January 2024 [4]
Direct links from Whitmer's top donors to other campaigns are unavailable. While Gretchen Whitmer's 2022 gubernatorial campaign contributor data is publicly accessible through platforms such as OpenSecrets and Transparency USA, enabling the identification of her top individual donors [1], [5], [6], the provided sources do not offer a consolidated database or cross-referencing tool. Consequently, a precise distribution of fundraising from Whitmer's top 50 individual donors to specific state-level PACs or campaign committees associated with Garlin Gilchrist, Jocelyn Benson, or Mallory McMorrow cannot be determined from the available information.
Data for other candidates exists but requires manual cross-referencing. Contributor data for Garlin Gilchrist's committee is accessible for the 2024 election cycle [2], [3], and Jocelyn Benson's campaign committee, 'Jocelyn Benson for Governor,' also provides contribution details [7]. Benson reportedly held approximately $1 million in PAC funds ahead of the 2024 election as of January 2024 [4]. Furthermore, Mallory McMorrow's candidate contributions are available for review [8], [9]. However, to accurately ascertain how Whitmer's top 50 individual donors contributed to these specific committees by the Q4 2024 filing deadline, individual cross-referencing across multiple filing periods would be necessary, a capability not supported by the provided research links.
Sources (9)
  1. 1Gretchen E Whitmer - Michigan Governor (D)opensecrets.org
  2. 2Garlin Gilchrist for LT Governor - Michigan Committee - Transparency USAtransparencyusa.org
  3. 3Garlin Gilchrist IItransparencyusa.org
  4. 4Michigan SOS Jocelyn Benson sitting on $1M in PAC funds ahead of 2024 election - mlive.commlive.com
  5. 5Subscribe for Updatestransparencyusa.org
  6. 6Gretchen Whitmer for Governortransparencyusa.org
  7. 7Jocelyn Benson for Governor - Michigan Committee - Transparency USAtransparencyusa.org
  8. 8Mallory McMorrowtransparencyusa.org
  9. 9Mallory McMorrow - Michigan Candidate - Transparency USAtransparencyusa.org

7. Are Michigan 2026 Democratic Gubernatorial Candidates Endorsed by County Chairs?

Endorsements from 10 Largest County ChairsNone secured by any candidate [1]
Number of Largest Michigan Counties10 [2]
Jocelyn Benson's Other EndorsementsState legislators, U.S. Congresswoman [3], [1], [4]
No candidate has yet secured public endorsements from Michigan's 10 largest county Democratic chairs. As of current research, no candidate for the 2026 Michigan Democratic gubernatorial primary has publicly received an endorsement from any chair of the state's 10 largest county-level Democratic Parties [1]. Michigan's 10 largest counties by population are Wayne, Oakland, Macomb, Kent, Genesee, Washtenaw, Ottawa, Livingston, Kalamazoo, and Saginaw [2]. The Democratic Party chairs for these counties, as identified by the Michigan Democratic Party, include Khalilah Spencer, Jody LaMacchia, Kenneth J. Reid, Bill Saxton, Ardenia "Deni" Taveras, Catherine Clark, Jennifer Marriotti, Judy Daubenmier, Jake Davis, and Patricia "Patti" J. Wozniak [5].
Jocelyn Benson has received endorsements, but not from these key county chairs. Secretary of State Jocelyn Benson, a declared candidate, has garnered numerous endorsements from other Democratic officials, including state legislators and U.S. Congresswoman Hillary Scholten [3], [1], [4]. However, based on current available data, these endorsements do not specifically include the current chairs of Michigan's 10 largest county Democratic Parties, indicating no candidate has yet secured support from this particular group of officials [1].
Sources (5)
  1. 1Endorsements — jocelynbensonvotebenson.com
  2. 2Michigan Counties by Population (2026)michigan-demographics.com
  3. 3Benson snags endorsements from more Democratic state legislators in gubernatorial race • Michigan Advancemichiganadvance.com
  4. 4Scholten backs Benson for first congressional endorsement in Democratic race for governor - NewsBreaknewsbreak.com
  5. 5County Chairs - Michigan Democratic Partymichigandems.com

8. When did Pete Buttigieg establish Michigan residency?

Residency EstablishedJuly 2022 [1]
Voter Registration ChangeJuly 2022 [1]
Home Purchased2022 [2]
Pete Buttigieg officially established Michigan residency in July 2022. Secretary of Transportation Pete Buttigieg and his husband, Chasten, officially moved to Traverse City, Michigan, in July 2022 [1]. At that time, they also changed their voter registrations to reflect their new Michigan residency [1]. Multiple reports from July 2022 confirm Buttigieg's status as a Michigan resident [3].
The Buttigiegs further solidified their residency by purchasing a home. Buttigieg and his husband purchased a home in Traverse City, Michigan, in 2022 [2]. This property acquisition further supports their establishment of residency in the state [4]. These actions provide verifiable evidence of their residency well in advance of the January 1, 2026, deadline [1].
Sources (4)
  1. 1Buttigieg moves to Michigan, changes voter registrationmlive.com
  2. 2Pete Buttigieg House: The Traverse City Residence - Urban Splatterurbansplatter.com
  3. 3Pete Buttigieg is a Michigan residenteu.newarkadvocate.com
  4. 4Pete Buttigieg's Stunning Traverse City Home: Inside the Secretary of Transportation’shomeszillow.com

9. Who Leads Early Polling in Michigan's 2026 Gubernatorial Primary?

Mallory McMorrow CandidacyU.S. Senate in 2026 (not governor) [1]
Chris Swanson CandidacyDeclared candidate for Governor in 2026 [2]
Jocelyn Benson PollingSubstantial lead in early gubernatorial polling [3]
No direct data exists on second-choice gubernatorial preferences. The available web research provides no direct information from internal polling memos or public statements regarding the second-choice preferences of supporters for State Senator Mallory McMorrow or Flint Mayor Chris Swanson if either were to withdraw from a gubernatorial race. Notably, State Senator Mallory McMorrow has announced her candidacy for the U.S. Senate in 2026, not the governorship [1]. Therefore, the premise concerning her gubernatorial supporters' second-choice preferences is not applicable given her declared intentions.
Chris Swanson is a gubernatorial candidate, but his supporters' second choices are unknown. Flint Mayor Chris Swanson has filed paperwork to campaign for governor and advocates for listening and unity [4]. However, specific second-choice data for his supporters is not available in the provided sources. Early polling for the 2026 Michigan Democratic gubernatorial primary indicates that Jocelyn Benson holds a substantial lead, suggesting she controls the Democratic base [3]. Conversely, the sources do not include any information regarding Mark Hackel's participation in the 2026 gubernatorial race or any related polling data. Consequently, without specific polling data on second-choice preferences, it is not possible to determine whether supporters of Chris Swanson would more likely gravitate towards a moderate like Mark Hackel or a progressive like Jocelyn Benson.
Sources (4)
  1. 1Michigan lawmaker Mallory McMorrow announces Democratic bid for US Senate | AP Newsuat.apnews.com
  2. 2Chris Swanson files nominating paperwork in campaign for governormichiganpublic.org
  3. 3New gubernatorial poll shows Benson in control of Democratic base, Duggan pulling from both parties | City Pulselansingcitypulse.com
  4. 4Michigan gubernatorial hopeful Chris Swanson is tired of division and ready to listen • Michigan Advancemichiganadvance.com