As of September 9, 2026, the Democratic side is favored in the California Governor Race 2026 market, at an implied probability of about 96% (96¢ per contract on Kalshi). This contract settles on which party wins the race, not on any individual candidate; the exchanges list it under Xavier Becerra’s name. Live prices below are pulled directly from Kalshi and Polymarket.
Kalshi vs Polymarket: California Governor Odds
The same outcome often trades at different prices on different exchanges.
| Outcome | Kalshi | Polymarket | Gap |
|---|---|---|---|
| Xavier Becerra | 96% | 95% | 1.5 pts |
| Steve Hilton | 3.9% | 3.5% | 0.4 pts |
California Governor Odds on Kalshi
| Outcome | Implied probability | Price | Bid / Ask |
|---|---|---|---|
| Xavier Becerra | 96% | 96¢ | 96¢ / 96¢ |
| Steve Hilton | 3.9% | 4¢ | 4¢ / 4¢ |
Each row above is a contract on a party holding the seat. The names are the exchange’s own labels for those contracts and can lag the actual candidate field.
California Governor Odds on Polymarket
| Outcome | Implied probability | Price | Bid / Ask |
|---|---|---|---|
| Xavier Becerra | 95% | 95¢ | 95¢ / 95¢ |
| Steve Hilton | 3.5% | 4¢ | 4¢ / 4¢ |
| Tom Steyer | 0.1% | <1¢ | |
| Rick Caruso | 0.1% | <1¢ | |
| Alex Padilla | 0.1% | <1¢ | |
| Katie Porter | 0.1% | <1¢ | |
| Antonio Villaraigosa | 0.1% | <1¢ | |
| Stephen Cloobeck | 0.1% | <1¢ | |
| Butch Ware | 0.1% | <1¢ | |
| Betty Yee | 0.1% | <1¢ | |
| Toni Atkins | 0.1% | <1¢ | |
| Kyle Langford | 0.1% | <1¢ |
Plus 11 lower-probability outcomes not shown.
Where California Governor Odds Have Been
The Democratic side last closed at 95% (Sep 9, 2026). That is +1 point since Aug 11, 2026 (94%). Since Oct 10, 2025, the earliest daily price we track for this market, it has moved +45 points from 50%.
| Date | Polymarket | Kalshi |
|---|---|---|
| Oct 10, 2025 | 50% | — |
| Dec 12, 2025 | 6.0% | — |
| Feb 11, 2026 | 1.1% | — |
| May 6, 2026 | 40% | 88% |
| Jul 7, 2026 | 93% | 91% |
| Sep 9, 2026 | 95% | 96% |
Across that period the market ranged from a low of 0.2% on Mar 2, 2026 to a high of 96% on Sep 6, 2026. Prices are daily closes from Polymarket.
About the California Governor Race
The markets price this race at party level — Democratic vs Republican — rather than by individual candidate; candidate-level markets typically appear after the primaries decide who is running. Election Day is November 3, 2026. This market is scheduled to close around 2027-11-03, settling when the winner is official.
Market Odds vs Polls
Polls measure who people say they support; prediction market odds measure where traders put real money. Polling averages update every few days or weeks, while market prices react to news within minutes — including primary results, debate moments, and fundraising reports. Markets also price primary races and nominee fields before pollsters survey them. Neither is infallible: polls carry sampling error, and thin markets can be moved by a few large trades. Historically, market prices in aggregate have been well-calibrated — a 70% favorite wins about 70% of the time.
About This Market
This market will resolve to according to the candidate who wins the 2026 California gubernatorial election currently scheduled for November 3, 2026. If the results of the election are not confirmed by July 31, 2027, this market will resolve to "Other". The resolution source for this market is the Associated Press, Fox News, and NBC. This market will resolve once all three sources call the race for the same…
How to Trade This Market
Kalshi (CFTC-regulated, all 50 states for political markets) and Polymarket (lowest fees, iOS in 49 states) both offer event markets; see our head-to-head comparison or run your trade through the fee calculator before placing it. New to event contracts? Start with how prediction markets work.
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Common Questions
Which party is favored in the California Governor Race 2026 market?
As of September 9, 2026, the Democratic side is favored, at an implied probability of about 96% (a 96¢ contract on Kalshi). The contract settles on which party wins the race rather than on a named candidate, though the exchanges display it under Xavier Becerra’s name. Prices move constantly as traders buy and sell; the tables on this page show the latest synced prices.
Where can I trade the California Governor market?
This market trades on both Kalshi and Polymarket. Kalshi is a CFTC-regulated exchange available in all 50 states for political markets; Polymarket US is open to iOS users in 49 states. See our platform reviews for fees and details.
How do prediction market odds work?
Contracts pay $1 if the outcome happens and $0 if it does not, so the price is the market’s implied probability: a 62¢ contract means traders collectively price a 62% chance. Odds come from real money changing hands, not from polls or pundits.
Who is running in the California Governor Race 2026?
These markets currently price the race at party level (Democratic vs Republican) rather than by individual candidate. Candidate-level markets usually appear once the primaries settle the field.
When will the California Governor market settle?
Election Day is November 3, 2026; the market is scheduled to close around 2027-11-03. Contracts settle at $1 or $0 once the outcome is officially determined.
Prices synced September 9, 2026 from public Kalshi and Polymarket market data by Arthur Angelo. Odds move constantly; check the exchange for execution prices. This page is informational — not investment advice. PredictionScout may earn commissions from platform links; see our affiliate disclosure. More markets: all live odds pages.