Short Answer

Democrats are likely to win the Alaska Governor race by at least 2 percentage points. While Jonathan Kreiss-Tomkins (D) holds a 19.9-point first-round lead, prediction markets imply the final ranked-choice voting margin will narrow to 11-12 percentage points, with the market pricing this outcome at 92.0%.

1. Market Behavior & Drivers

Market volatility reflects the complexity of interpreting Alaska's ranked-choice voting (RCV) system. The largest price swing, a 67.3 percentage point drop on November 5, occurred as the market reassessed the initial 19.9% lead held by Democrat Jonathan Kreiss-Tomkins. Traders priced in the likelihood that second- and third-choice preferences from the three Republican candidates would consolidate, significantly narrowing the final margin. This view reversed sharply the next day. A 60.3 percentage point spike on November 6 was driven by the Alaska Division of Elections' release of a preliminary cast vote record. Analyses of this data by FairVote and Alaska Public indicated the Republican vote was too fractured for subsequent choices to overcome Kreiss-Tomkins' lead.
Earlier post-election moves were also driven by data analysis rather than headlines. A 39.0 percentage point spike on November 4 followed the real-time interpretation of early vote counts, which first revealed the extent of vote-splitting among Republican candidates. While the event log notes a 10.0 point drop on November 3, the associated context contradicts this, instead describing a price surge on November 4. No specific driver was identified for a 15.0 percentage point spike on October 27.
  • Kreiss-Tomkins' victory appears highly probable, with an 11-12 point RCV margin implied.
  • Ranked-choice tabulation on November 18 will narrow Kreiss-Tomkins' initial 19.9-point lead.
  • An 8 percentage point margin is likely; 17+ or 20+ points appear improbable.

Who Wins and Why

Outcome Market Model Why
Democrats, 8+ pts 70.0% 72.1% An 11-12 percentage point implied final margin makes an 8+ point victory highly probable.
Democrats, 11+ pts 67.0% 70.2% Prediction markets imply the final margin will narrow to approximately 11-12 percentage points.
Democrats, 5+ pts 99.5% 99.2% Prediction markets imply an 11-12 percentage point final margin, making a 5+ point victory highly probable.
Democrats, 2+ pts 92.0% 99.2% Prediction markets imply an 11-12 percentage point final margin, making a 2+ point victory highly probable.
Democrats, 17+ pts 68.0% 63.2% An 11-12 percentage point implied final margin makes a 17+ point victory significantly less likely.

Current Context

Jonathan Kreiss-Tomkins holds a significant lead in Alaska's gubernatorial race. As of November 4, 2026, with 211,337 total votes counted, Kreiss-Tomkins (D) has 103,837 votes (49.13%) against Bernadette Wilson (R) with 61,734 votes (29.21%), Dave Bronson (R) with 30,003 votes (14.20%), and Treg Taylor (R) with 15,763 votes (7.46%) [1][2][3][4][5][6][7][8][9]. Ranked-choice voting (RCV) analysis by Alaska News projects Kreiss-Tomkins will reach approximately 50.8% after Taylor's elimination and about 55% in a final round against Wilson, indicating a lead of roughly 20,000 votes [1]. This outcome is expected despite a Republican strategy to split the vote, as Republican voters are reportedly not ranking in sufficient numbers for a GOP candidate to win through RCV tabulation [10][11][12]. Jim Lottsfeldt, an expert, anticipates Kreiss-Tomkins will win outright before RCV tabulation [10].
Prediction markets strongly indicate a Kreiss-Tomkins victory in the Alaska Governor race. As of November 7, 2026, Kreiss-Tomkins shows odds of 99% on Kalshi (1.3 million contracts), over 99% on Polymarket ($1.9 million), and 99% on PredictIt [13][3][14][15]. Pre-poll-closing odds also favored him, standing at 87% (Kalshi), 88% (Polymarket), and 93% (PredictIt) [13][3][14][15]. This election represents a notable political shift in Alaska, contrasting with the 2022 governor's race (R+26.1) and 2024 presidential race (R+13.1); the 2026 governor's race currently shows a D+20 margin according to a New York Times analysis [3][4][14]. If victorious, Kreiss-Tomkins would be the state's first Democratic governor since Tony Knowles (who left office in 2002) and, at 37, the youngest governor in state history [10][1][13][3][12][16].
Final election results await further vote tabulation and certification. The next vote update is scheduled for November 10. The deadline for domestic absentee ballots is November 13, while ranked-choice results and overseas ballot deadlines are set for November 18. The target certification date is November 25 [10][3][4]. As of November 6, 2026, the Associated Press has not called the race, and the Alaska Division of Elections has not certified results; the final outcome depends on RCV tabulation beginning November 18, 2026 [10][3][11]. Expert consensus aligns with a Democratic win; Sabato's Crystal Ball rated the race 'Likely Democratic' on November 2, and Cook and Inside Elections rated it 'Lean D' [10][14][16]. Kreiss-Tomkins significantly outperformed primary polls, finishing first with 22.52% (37,006 votes) despite pre-election polling between 8-15%, partly due to record campaign spending and an AI-driven get-out-the-vote campaign [17][18][19]. Ivan Moore of Alaska Survey Research notes that outstanding votes tend to favor Democrats [10][14][16].
Sources (19)
  1. 1Alaska Elections | Alaska Newsalaskanews.com
  2. 2Alaska Governor Midterm Election 2026: Live Resultsnbcnews.com
  3. 3Alaska Governor: 2026 results | Electoral Meridianelectoralmeridian.org
  4. 4Alaska Governor 2026: Live Election Results, Kreiss-Tomkins vs. Wilsonnytimes.com
  5. 5Alaska - Gubernatorial Elections - United States - Cross In The Boxcrossinthebox.com
  6. 6Election Resultsalaskasnewssource.com
  7. 7U.S. Electionsuspreselections.org
  8. 82026 Alaska Governor General Election Results | DDHQvotes.decisiondeskhq.com
  9. 9U.S. Electionsuspreselections.org
  10. 106 takeaways from Alaska’s electionalaskapublic.org
  11. 11Alaska Senate and Governor Races Remain Uncalled as Campaigns Project Wins | Alaska Expressalaskaexpres.com
  12. 12Democrat Jonathan Kreiss-Tomkins leads in Alaska governor’s racealaskapublic.org
  13. 13Jonathan Kreiss-Tomkins wins Alaska governor race: Kalshi projectsnews.kalshi.com
  14. 14Alaska Governor Race Odds 2026 on Every Marketstateoftheodds.com
  15. 15Alaska Governor Winner? 2026 Race Odds & Polls: Kreiss-Tomkins vs. Wilson | Kalshikalshi.com
  16. 16JKT moves to ‘likely’ winner, Peltola and Begich still ‘lean’ favorites in final Crystal Ball ratingsjuneauindependent.com
  17. 17Polls got Alaska governor finalists right, but missed JKT’s stealth late rise to first place - Alaska Storythealaskastory.com
  18. 18Alaska Governor Primary 2026: Live Election Results - The New York Timesnytimes.com
  19. 19Final primary count: JKT holds lead, Taylor widens edge over Bishop as Alaska awaits certification - Alaska Storythealaskastory.com

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.

Outcome: Democrats, 8+ pts

📈 November 06, 2026: 60.3pp spike

Price increased from 9.7% to 70.0%

What happened: The primary driver of the 60.3 percentage point spike on November 6, 2026, was the Alaska Division of Elections' release of a preliminary cast vote record (CVR) for approximately 204,000 scanned ballots [1][2]. This data enabled FairVote and Alaska Public to publish analyses demonstrating that Republican voters were not ranking in sufficient numbers to overcome Democrat Jonathan Kreiss-Tomkins in ranked-choice voting [1][2]. This official data release and subsequent reporting coincided directly with the market movement, strengthening confidence in a wider Democratic victory [3][1][2]. Social media was irrelevant, as no related activity from key figures or viral narratives was identified as influencing this specific price movement on that date.

📉 November 05, 2026: 67.3pp drop

Price decreased from 77.0% to 9.7%

What happened: On November 5, 2026, a 67.3 percentage point drop in the "Democrats, 8+ pts" market was primarily driven by the market's reassessment of the final margin of victory due to Alaska's ranked-choice voting (RCV) system [4]. Although Democrat Jonathan Kreiss-Tomkins was reported to lead by 19.9 percentage points with 74% of votes counted, the market likely adjusted its high initial expectation as it digested that RCV tabulation was expected to significantly narrow this lead, potentially to below the 8-point threshold [5][6]. This adjustment reflected the understanding that the initial vote count would not directly translate to the final RCV margin, as pre-election polls had projected a narrower 6-point lead for Kreiss-Tomkins after tabulation [6]. Based on the provided sources, social media activity was irrelevant to this price movement.

📉 November 03, 2026: 10.0pp drop

Price decreased from 48.0% to 38.0%

What happened: The provided research indicates no 10.0 percentage point drop for the 'Democrats, 8+ pts' outcome on November 3, 2026. Instead, following election night results, the contract experienced a significant spike, with prices for 'Democrats, 8+ pts' moving from 39% to 91% on November 4, 2026 [7]. This upward movement was primarily driven by official election results showing Democrat Jonathan Kreiss-Tomkins leading with 49.1% of first-choice votes, making a large Democratic victory highly probable [8]. Therefore, no primary driver for the specified 10.0 percentage point drop can be identified, and social media activity is irrelevant to this non-existent price movement.

Outcome: Democrats, 11+ pts

📈 November 04, 2026: 52.8pp spike

Price increased from 38.0% to 90.8%

What happened: The significant price movement for "Democrats, 11+ pts" on November 04, 2026, was primarily driven by the real-time interpretation of early vote-counting data, not social media or traditional headlines. Analysis of raw vote data becoming available on election day revealed that Republican voters were not ranking in sufficient numbers to allow a GOP candidate to win under Alaska's ranked-choice voting system [9]. As 4Search Predictions noted, there was "no headline about it in the hours around this move," indicating the spike was a reaction to the emerging vote counts [7]. Social media was irrelevant to this specific price spike.

📉 November 01, 2026: 14.0pp drop

Price decreased from 46.0% to 32.0%

What happened: The 14.0 percentage point drop in the "Democrats, 11+ pts" contract on November 01, 2026, appears to have been driven primarily by market structure factors rather than specific social media activity or traditional news. No identified posts from key figures or breaking news reports around that date correlate with a decline in Democratic margin expectations [7]. In fact, most reporting prior to the election suggested increasing Democratic strength [10]. Therefore, social media was irrelevant as a primary driver for this specific price movement.
Sources (10)
  1. 1How will remaining ballots affect Alaska’s statewide elections? - FairVotefairvote.org
  2. 24 interesting things we’ve learned from Alaska ballot dataalaskapublic.org
  3. 3Alaska Governor margin of victory Odds | Prediction Tickerpredictionticker.com
  4. 42026 Alaska gubernatorial electionen.wikipedia.org
  5. 5Democrat Jonathan Kreiss-Tomkins reflects on lead in Alaska governor’s racealaskapublic.org
  6. 6Jonathan Kreiss-Tomkins wins Alaska governor race: Kalshi projectsnews.kalshi.com
  7. 7Alaska Governor margin of victory: Odds, Chart & News | 4Search Predictions4search.com
  8. 8Democrat Jonathan Kreiss-Tomkins leads in Alaska governor’s racealaskapublic.org
  9. 96 takeaways from Alaska's electionalaskapublic.org
  10. 10A Democratic upset is brewing in Alaska’s governor’s race as Trump’s popularity craters | Alaska | The Guardiantheguardian.com

4. Market Data

Contract Snapshot

This Kalshi contract resolves to YES if the Democratic candidate wins the Alaska Governor election by 20 or more percentage points. A NO resolution occurs if the Democratic candidate wins by less than 20 points, or if the Republican candidate wins. The maximum payout date for this contract is November 3, 2027, with no other special settlement conditions mentioned.

Available Contracts

Market options and current pricing

Outcome bucket Yes (price) No (price) Last trade probability
Democrats, 5+ pts $0.99 $0.33 100%
Democrats, 2+ pts $0.98 $0.28 92%
Democrats, 20+ pts $0.98 $0.72 79%
Democrats, 14+ pts $0.97 $0.57 71%
Democrats, 8+ pts $0.97 $0.30 70%
Democrats, 17+ pts $0.97 $0.69 68%
Democrats, 11+ pts $0.97 $0.62 67%

Market Discussion

The market consensus strongly predicts a Democratic victory in the Alaska Governor race, with a current forecast margin of D +6.8 points. Traders see a 99.5% chance of Democrats winning by at least 5 points, and high probabilities persist for larger margins, though some higher-threshold contracts (e.g., 8+ pts, 11+ pts) have seen recent decreases in their likelihood. Conversely, the market assigns a negligible chance (<1%) to a Republican win by any margin.

5. Trust Index

Octagon Trust Index Kalshi 78 Good

Order book is critically thin.

Primary risk· Trade quality

How it adds up
Integrity80% of score86Strong
Trade quality20% of score49High Risk

Includes the cost to trade: a $100 order can't be filled here because the order book is too thin.

Trust score78Good

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 will the ranked-choice tabulation on November 18 impact Jonathan Kreiss-Tomkins' final vote share against Bernadette Wilson?

Expected Final Margin for Kreiss-Tomkins11-12 percentage points [1][2][3]
Kreiss-Tomkins First Round Lead49.1% (with 74-98% votes reported) [4][5][6]
Prediction Market Probability for Kreiss-Tomkins Win98.7-99.6% [7][8][9]
Jonathan Kreiss-Tomkins is strongly favored to win Alaska's gubernatorial race. Prediction markets indicate a near-certainty of victory for Kreiss-Tomkins against Bernadette Wilson, with probabilities ranging from 98.7% to 99.6% despite the upcoming ranked-choice tabulation on November 18, 2026 [1][2][3][6][7][8][9]. These markets project a final-round margin of approximately 11 to 12 percentage points for Kreiss-Tomkins, which exceeds the 5 percentage points anticipated by pre-election ranked-choice polls [1][2][3][10]. Specifically, Kalshi's 'Alaska Governor margin of victory' market shows Democrats winning by 5 or more points at over 99% and by 11 or more points at 66-67% [1][2][3].
Kreiss-Tomkins currently leads significantly before ranked-choice tabulation. As of November 4, 2026, Kreiss-Tomkins holds a substantial first-round lead with 49.1% of the vote compared to Wilson's 29.2%, with 74-98% of votes reported [4][5][6]. Although Bernadette Wilson has publicly expressed confidence in overcoming Kreiss-Tomkins after ranked-choice ballots are counted [6], historical data from Alaska suggests that late-counted absentee and questioned ballots typically benefit Democratic candidates [5][11][12][13]. This trend could potentially increase Kreiss-Tomkins' first-round percentages further before the official tabulation occurs on November 18, 2026. Certification of the election results is expected by November 25, 2026 [5][11][12].
Sources (13)
  1. 1Alaska Governor margin of victory: Odds, Chart & News | 4Search Predictions4search.com
  2. 2Alaska Governor margin of victory Odds | Prediction Tickerpredictionticker.com
  3. 3Alaska Governor margin of victory - Compare Kalshi vs Manifold Markets Odds | CoinRithmcoinrithm.com
  4. 4Alaska Governor Midterm Election 2026: Live Resultsnbcnews.com
  5. 5Alaska Governor 2026: Live Election Results, Kreiss-Tomkins vs. Wilsonnytimes.com
  6. 6Democrat Jonathan Kreiss-Tomkins leads in Alaska governor's racealaskapublic.org
  7. 7Alaska Governor Winner? 2026 Race Odds & Pollskalshi.com
  8. 8Alaska Governor Race 2026 Odds: Kreiss-Tomkins vs Wilsonmidterms.nijinn.io
  9. 9Alaska Governor winner? Odds & Predictions - Public.compublic.com
  10. 102026 Alaska gubernatorial electionen.wikipedia.org
  11. 11When will Alaska's US Senate race be called? Check the latest numberswusa9.com
  12. 12Election Resultselections.alaska.gov
  13. 13Alaska 2026 Ranked-Choice Results | codyrice.uscodyrice.us

7. What do historical voting patterns from Alaska's 2022 elections indicate about the likely consolidation of votes for the 2026 gubernatorial race?

2022 Special US House GOP First-Preference Vote58.76% [1]
2022 Special US House Dem Final Vote51.48% [1]
Modeled GOP to Dem Crossover (2026)15-30% [1]
Past elections show RCV complicates Republican vote consolidation. Historical voting patterns from Alaska's 2022 special U.S. House election demonstrated that a combined Republican first-choice vote lead does not guarantee consolidation under ranked-choice voting (RCV), which can benefit a single Democratic candidate [1]. For instance, two Republican candidates collectively received 58.76% of first-preference votes in that special election, yet Democrat Mary Peltola ultimately won with 51.48% in the final round, partly because 21% of eliminated Republican ballots were exhausted [1]. In contrast, the 2022 gubernatorial election saw Republican Mike Dunleavy secure an outright victory with 50.3% of first-choice votes, not requiring ranked-choice transfers, though the overall RCV effect pulled the Legislature towards the center [2][3][4][5].
The 2026 primary set up a competitive general election. For the 2026 gubernatorial election, the primary involved 12 Republican candidates, who together received 51.8% of the vote, while the Democratic field consolidated behind Jonathan Kreiss-Tomkins, accounting for a combined 43.3% of the primary vote [6][7][1][8]. As of November 5, 2026, Kreiss-Tomkins currently leads the general election with 49.2% of first-choice votes, falling just short of the 50% threshold needed for an outright win [9][10][11].
Analysts predict significant RCV transfers benefiting the Democrat. Modeling for the 2026 general election, analysts suggest that with three Republican candidates on the ballot, two will be eliminated before a one-on-one contest with Kreiss-Tomkins [1]. They project that 15-30% of votes from weaker Republican eliminations will cross over to Kreiss-Tomkins, and another 15-25% will be exhausted [1]. These projections indicate that the consolidated Democratic candidate requires only a small portion of these transfers to reach the 50% threshold for victory [1].
Sources (11)
  1. 1Alaska Governor Odds: Begich Quit, And The Republicans Won'toddsshopper.com
  2. 2Alaska gubernatorial and lieutenant gubernatorial election, 2022ballotpedia.org
  3. 3Alaska 2022 Election Resultsmultistate.us
  4. 4Alaska Governor Midterm Election 2022: Live Results and Updatesnbcnews.com
  5. 5Alaska Election Results 2022nytimes.com
  6. 6Alaska gubernatorial and lieutenant gubernatorial election, 2026ballotpedia.org
  7. 7Alaska gubernatorial and lieutenant gubernatorial election, 2026...ballotpedia.org
  8. 84 takeaways from Alaska's primary electionalaskapublic.org
  9. 9Alaska governor candidates await results as vote count continuesalaskasnewssource.com
  10. 10Democrat Jonathan Kreiss-Tomkins leads in Alaska governor's racealaskapublic.org
  11. 11Democrat Kreiss-Tomkins takes early lead in Alaska governor's race as...adn.com

8. How does the partisan lean of remaining uncounted absentee ballots compare between Democratic-leaning and Republican-leaning districts in Alaska?

Partisan lean of later-counted ballotsFavor Democrats (2026 General Election) [1]
Votes reported (Alaska Governor, Nov 4, 2026)74% [2][3]
Absentee ballots arrived too late (2026 Alaska primary)75 [4]
Later-counted ballots in Alaska's general election typically favor Democratic candidates. In Alaska's 2026 general election, later-counted mail and provisional ballots show a tendency to favor Democrats [1]. This trend is consistent with a New York Times analysis from Alaska's Senate race, which also observed that late mail votes generally lean toward Democratic candidates [5].
Tens of thousands of ballots remain uncounted without district-specific partisan data. As of November 4, 2026, approximately 74% of votes had been reported in the Alaska governor race, leaving tens of thousands of early and absentee ballots uncounted [2][3]. Although the 2026 Alaska primary highlighted issues with ballot counting in remote Republican-leaning areas, such as 75 absentee ballots arriving too late [4], current information does not offer a direct comparison of the partisan lean of the remaining uncounted absentee ballots specifically between Democratic-leaning and Republican-leaning districts for the 2026 general election [1][4][5].
Sources (5)
  1. 1Alaska Governor Race 2026 Odds: Kreiss-Tomkins vs Wilsonmidterms.nijinn.io
  2. 2Alaska Governor 2026: Live Election Results, Kreiss-Tomkins vs. Wilsonnytimes.com
  3. 3Trump: 'Fake Dan Sullivan' Votes Should Go to Alaska Incumbentyahoo.com
  4. 475 absentee in-person ballots from rural Alaska not counted in primaryapnews.com
  5. 5Midterm Elections Live Updates: Democrats Project Power as G.O.P....nytimes.com

9. How did Jonathan Kreiss-Tomkins' general election performance compare to final pre-election polling from firms like Alaska Survey Research?

Actual Victory Margin19.9 points (49.1% vs 29.2%) [1]
Pre-election Polling Lead7.5 points (RealClearPolling average) [1]
Margin Discrepancy12.4 points higher than polling average [1][2]
Jonathan Kreiss-Tomkins secured a significant victory in the 2026 Alaska governor's race. He defeated Bernadette Wilson by a decisive 19.9-point margin, garnering 49.1% of the vote to Wilson's 29.2%, according to an AP announcement on November 5, 2026 [1]. This substantial margin successfully resolved the 17+ points contract on the Kalshi prediction market, with its rules specifying that vote percentages are based on the final round of ranked-choice tabulation in certified results [2][3][4][5][6].
Pre-election polling significantly underestimated Kreiss-Tomkins' actual performance in the race. The RealClearPolling average, which aggregated four head-to-head polls, indicated Kreiss-Tomkins was leading Wilson by 7.5 points (53.8% to 46.3%) [1]. Individual poll projections varied, ranging from a 6-point to a 10-point lead, with the final NYT/Siena poll reporting an 8-point advantage for Kreiss-Tomkins in the simulated final round [1][7]. Kreiss-Tomkins' actual 19.9-point margin of victory ultimately exceeded this pre-election polling average by approximately 12.4 points [1][2].
Sources (7)
  1. 1Alaska Governor Election Results 2026: Jonathan Kreiss-Tomkins Winsmultistate.us
  2. 2Alaska Governor margin of victory: Odds, Chart & News | 4Search Predictions4search.com
  3. 3Alaska Governor margin of victory Odds | Prediction Tickerpredictionticker.com
  4. 4Alaska Governor margin of victory - Compare Kalshi vs Manifold Markets Odds | CoinRithmcoinrithm.com
  5. 5November 3, 2026: Alaska Governor margin of victory Prediction Marketrobinhood.com
  6. 6November 4, 2026: Alaska Governor margin of victory Prediction Marketrobinhood.com
  7. 7Alaska gubernatorial and lieutenant gubernatorial election, 2026ballotpedia.org

10. What scenarios would allow Bernadette Wilson to overcome her first-round deficit against Jonathan Kreiss-Tomkins in the ranked-choice tabulation?

Wilson First-Round DeficitApproximately 20 percentage points or over 42,000 votes [1][2][3][4]
Bronson's VotesApproximately 30,000 votes [1][2][3][4]
Taylor's VotesApproximately 15,700 votes [1][2][3][4]
To overcome her first-round deficit, Bernadette Wilson requires a very high proportion of votes from eliminated candidates to transfer to her, alongside a low rate of ballot exhaustion among Jonathan Kreiss-Tomkins' voters [1][2][3][4]. Wilson currently faces an approximate 20-percentage-point deficit, totaling over 42,000 votes [1][2][3][4]. For her to secure a victory, a substantial share of Bronson's roughly 30,000 votes and Taylor's approximately 15,700 votes must transfer to her [1][2][3][4]. The ranked-choice tabulation is set for November 18, 2026, which will involve eliminating Taylor (4th) first, followed by Bronson (3rd), with their ballots reallocated to the next-ranked remaining candidate. This date also marks the deadline for absentee ballots to arrive [5][4].
However, Wilson faces challenges due to potential ballot exhaustion among voters who ranked other candidates [2][6]. Data for Progress, in October 2026, indicated that when Taylor and Bronson are eliminated, some of their voters' ballots exhaust instead of transferring to Wilson, a tendency Wilson would need to counteract [2]. An AARP poll from September 2026 similarly observed that a considerable number of Republican voters declined to rank Wilson, contributing to potential ballot exhaustion [6]. While multiple polls suggest the final ranked-choice round will be closer than the initial first-round numbers, they generally show Kreiss-Tomkins maintaining a lead, with projections often placing Wilson at 47-50% against Kreiss-Tomkins at 50-53% [3]. Kreiss-Tomkins' internal modeling also projects him finishing a few percentage points above 50% once all votes are tallied [1].
Sources (6)
  1. 1Alaska governor candidates await results as vote count continuesalaskasnewssource.com
  2. 2Every Statewide Race in Alaska Is Close, as 7 in 10 Voters Worry About...dataforprogress.org
  3. 32026 Alaska gubernatorial electionen.wikipedia.org
  4. 4Unofficial Election Resultskstk.org
  5. 5Alaska Governor 2026: Live Election Results, Kreiss-Tomkins vs. Wilsonnytimes.com
  6. 6Poll shows Democrat with lead in Alaska governor's race, but large...alaskapublic.org

11. What Could Change the Odds

Key Catalysts

Tom Begich's withdrawal from the race and his endorsement of Jonathan Kreiss-Tomkins caused a 9.9 percentage point spike in prediction market odds on September 1, 2026 [1][2][3]. This consolidation occurred within a fractured Republican field, with three candidates: Bernadette Wilson (R) at 29.2%, Bronson (R) at 14.2%, and Taylor (R) at 7.5%. The fragmented Republican vote was a key factor in the Democratic victory under ranked-choice voting [4][5][6][7].
Late-race endorsements by Republican U.S. Sen. Lisa Murkowski, former governor Frank Murkowski, and other state GOP officials moved Sabato's Crystal Ball from 'Leans Democratic' to 'Likely Democratic' on November 2, 2026 [8]. Kreiss-Tomkins also significantly outperformed primary polls, finishing at 22.52% despite polling at 8-15%, a performance attributed to substantial campaign spending and an AI-powered get-out-the-vote campaign [9]. Voters rejected Alaska Measure 2 with 51.9% voting No, preserving the state's top-four primary and ranked-choice voting system [5][6].

Key Dates & Catalysts

  • Expiration: November 03, 2027
  • Closes: November 03, 2027
Sources (9)
  1. 1Democrats aim to unite behind one candidate in Alaska governor's race as they hope to flip the seat - SRN Newssrnnews.com
  2. 2Alaska Democrat drops out of gubernatorial racethehill.com
  3. 3Democrats aim to unite behind one candidate in Alaska governor's race as they hope to flip the seatthestar.com
  4. 4Alaska Governor Midterm Election 2026: Live Resultsnbcnews.com
  5. 5Election Resultsalaskasnewssource.com
  6. 6Election Resultswebcenterfairbanks.com
  7. 72026 Alaska gubernatorial electionen.wikipedia.org
  8. 8JKT moves to ‘likely’ winner, Peltola and Begich still ‘lean’ favorites in final Crystal Ball ratingsjuneauindependent.com
  9. 9Polls got Alaska governor finalists right, but missed JKT’s stealth late rise to first place - Alaska Storythealaskastory.com

13. Historical Resolutions

Historical Resolutions: 20 markets in this series

Outcomes: 0 resolved YES, 20 resolved NO

Recent resolutions:

  • KXMIDTERMMOV-FL13D-P8: NO (Nov 06, 2026)
  • KXMIDTERMMOV-IASENR-P2.5: NO (Nov 04, 2026)
  • KXMIDTERMMOV-IASENR-P1.5: NO (Nov 04, 2026)
  • KXMIDTERMMOV-IASENR-P0.5: NO (Nov 04, 2026)
  • KXMIDTERMMOV-KSSENR-P2.5: NO (Nov 04, 2026)