Who will win the governorship in California
Leader sits at 95% across 2 bound outcomes, runner-up at 5%. This is a winner-take-all market — the headline is the leader’s price, not an arithmetic mean.
Leader probability
Xavier Becerra
Outcomes
2
winner-take-all
Runner-up
5¢
Steve Hilton
Spread
90pp
dominant leader
24h volume
$28K
liquid
Closes
Nov 3, 2027
467 days
Venue
Kalshi
2 bound
30-day trend
Bracket family
How the bracket ladder is priced.
Each row is one outcome on the venue. Sorted by 24h volume — the heaviest book is at the top.
Cluster 1
Who will win the governorship in California
Analysis
Tom Steyer is currently priced at 40% to win California's governorship, reflecting his standing as the frontrunner among six main candidates in what appears to be a competitive race. The probability suggests meaningful uncertainty, with the second-place candidate at 37%, indicating a closely contested election. This price level would move based on polling trends, campaign funding, endorsement shifts, and primary election results. The primary election date and subsequent performance will be the critical catalyst that reshapes market perceptions, as it will provide concrete data on voter preferences and candidate viability. Between now and that date, candidate spending, debate performances, and demographic-focused campaigning could all materially affect market assessments of each candidate's pathway to victory.
- ›Tom Steyer leads with 40% implied probability while runner-up trails by only 3 percentage points, indicating a tight race without a dominant frontrunner
- ›Steve Hilton trades at 9%, Katie Porter at 4%, and Chad Bianco at 4%, showing meaningful tail-risk probability distributed across challengers
- ›Trading volume on California governorship contracts totals approximately $60,000 in 24-hour volume, suggesting moderate liquidity but room for price discovery as the election approaches
- ›Primary election results will provide the first major empirical test of candidate viability and voter preferences, acting as the primary uncertainty-resolving event
- ›Campaign funding, endorsements, and polling shifts between now and the election will incrementally adjust market probabilities as new information emerges
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These markets stopped trading. Last odds and any captured outcome are shown above — full settlement detail lives at the venue.
Lateral coverage
Thin contract — here's where the deeper coverage is.
This page aggregates 2 contracts (95% headline). At low contract count, the price reflects two participants’ opinions, not a market consensus. The links below are heavier related questions where the orderbook signal is real.
Thicker comparable contracts
In election 2026
Related reading
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How we compute these odds
SimpleFunctions aggregates live prediction-market contracts from Kalshi and Polymarket. Each slug groups contracts that resolve on the same underlying event, identified by venue event_id.
For binary slugs, the headline probability is the liquidity-weighted mid-price across all bound contracts. For multi-outcome slugs (e.g. elections with 3+ candidates), the headline is the leader’s price; we never arithmetically average disjoint outcomes — that would produce a number with no real-world meaning.
Snapshots refresh every 5 minutes during market hours; daily aggregates are computed at 04:00 UTC. The 30-day sparkline is drawn from per-ticker daily means stored in market_indicator_daily; 24h delta and movement events are derived from the same source.
Last updated on this page: just now.