Alaska Governor Election: Which Party Wins in 2026
Alaska voters head to the polls in 2026 to elect a new governor, as incumbent Mike Dunleavy is term-limited. The field includes a wide range of Republican, Democratic and independent contenders, from Lieutenant Governor Nancy Dahlstrom and former Senator Lisa Murkowski to former Representative Mary Peltola and Anchorage Mayor Dave Bronson. Alaska’s top-four primary and ranked-choice general election system adds extra unpredictability to how the race will unfold.
Why Markets Are Watching
The next governor will shape Alaska’s energy policy, budget priorities and relationship with federal resource development on state lands. With no incumbent running, the race is unusually open, drawing a crowded field spanning the political spectrum. The outcome could signal how Alaska’s unique ranked-choice voting system reshapes statewide politics.
How Prediction Markets Frame the Race
The market splits the contest two ways: which party ultimately claims the governorship, and which individual candidate wins outright. This isolates both partisan control and personal viability in a large, fragmented field. Ranked-choice dynamics make the individual-candidate question especially complex, since second- and third-choice votes can decide the outcome after the top-four primary narrows the field.
Related terms
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Democratic Party (United States) -
Republican Party (United States) -
Governor (United States) -
Alaska -
State governments of the United States -
Mary Peltola -
Mike Dunleavy (politician) -
Anchorage, Alaska -
Ranked-choice voting in the United States -
Electoral system -
Lisa Murkowski -
Jonathan Kreiss-Tomkins -
Treg Taylor -
Nancy Dahlstrom -
Bill Walker (American politician) -
James Parkin -
2022 Alaska gubernatorial election -
Lieutenant Governor of Alaska -
Click Bishop -
Edna DeVries
Total Volume
$2.8m
Kalshi $226k · Polymarket $2.6m
Leading Market
Democratic Party
Kalshi 88%
Democratic Party Volume
$126.5k
Kalshi $126.5k
Calculate Your Potential Return
- Kalshi(opens in a new tab) 7.0% fee
- Polymarket(opens in a new tab) 5.0% fee
| Market | Kalshi Yes | Kalshi Fee | Kalshi Payout | Polymarket Yes | Polymarket Fee | Polymarket Payout |
|---|---|---|---|---|---|---|
| Democratic Party | 88.0¢ | 7.0% | , trade Democratic Party on Kalshi (opens in a new tab) | — | — | — |
| Jonathan Kreiss-Tomkins | — | — | — | 87.0¢ | 5% | , trade Jonathan Kreiss-Tomkins on Polymarket (opens in a new tab) |
| Republican Party | 13.0¢ | 7.0% | , trade Republican Party on Kalshi (opens in a new tab) | — | — | — |
| Bernadette Wilson | — | — | — | 12.0¢ | 5% | , trade Bernadette Wilson on Polymarket (opens in a new tab) |
| Adam Curtis | — | — | — | 1.0¢ | 5% | , trade Adam Curtis on Polymarket (opens in a new tab) |
* Estimates if candidate wins. Actual returns may vary.
All Markets
| Market | Total Volume | Kalshi(opens in a new tab) | Polymarket(opens in a new tab) |
|---|---|---|---|
| Democratic Party | $126,539.07 | No market | |
| Jonathan Kreiss-Tomkins | $714,304.81 | No market | |
| Republican Party | $99,453.72 | No market | |
| Bernadette Wilson | $796,708.91 | No market | |
| Adam Curtis | $335,297.12 | No market |