California Governor Election: Who Will Win in 2026
California voters head to the polls in November 2026 to choose a successor to term-limited Governor Gavin Newsom. The race will determine control of the nation’s most populous state and its $400 billion-plus budget. A crowded field of Democratic and Republican hopefuls is expected, with the state’s top-two primary system shaping which candidates advance to the general election.
Why Markets Are Watching
California’s governor sets policy direction on climate, housing, taxation, and immigration for nearly 40 million residents, with influence extending well beyond state lines. The outcome will also signal whether Democrats maintain their long dominance in Sacramento or face a credible Republican challenge. Given the state’s economic and cultural weight, the next governor could shape national debates on several fronts.
How Prediction Markets Frame the Race
The core question traders are weighing is simply which party captures the governorship, a proxy for broader momentum heading into the 2026 midterms. Separate contracts isolate Democratic versus Republican victory, letting participants express views on primary outcomes and general-election matchups independently. This structure effectively turns a multi-candidate race into a binary partisan outcome for trading purposes.
Related terms
-
Democratic Party (United States) -
Republican Party (United States) -
California -
General election -
Gavin Newsom -
Governor of California -
Sacramento, California -
Xavier Becerra -
Steve Hilton
Total Volume
$47.9m
Kalshi $3.4m · Polymarket $44.4m
Leading Market
Xavier Becerra
Kalshi 98% · Polymarket 98%
Xavier Becerra Volume
$13.2m
Kalshi $648.9k · Polymarket $12.5m
Xavier Becerra 24h Change
-0.20%
Kalshi -0.20% · Polymarket 0.00%
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 |
|---|---|---|---|---|---|---|
| Xavier BecerraDemocratic Party | 97.5¢ | 7.0% |
|
98.0¢ | 5% |
|
| Steve HiltonRepublican Party | 2.8¢ | 7.0% |
|
3.0¢ | 5% |
|
* Estimates if candidate wins. Actual returns may vary.
All Markets
Emerging News
Elections
California Supreme Court weighs Sheriff Bianco’s seizure of election ballots
PN Team • 2 months ago
The California Supreme Court heard oral arguments on whether Riverside County Sheriff Chad Bianco must return more than 650,000 ballots (over 1,400 boxes) seized in March from local election officials during an investigation into unsubstantiated fraud claims tied to a November special election on redistricting (Proposition 50). Justices appeared skeptical of arguments from Bianco's attorney, Bradley Hertz, who claimed sheriffs can seize ballots under warrant regardless of state election law, and that Attorney General Rob Bonta lacks authority to order sheriffs to stand down. Justices questioned both points, with one calling Hertz's reasoning "bizarre" and another "counterintuitive."
Bianco, a former Republican gubernatorial candidate, defied Bonta's order to halt the seizure and began counting ballots before the state Supreme Court intervened in April. Bianco said he would comply if ordered to return the ballots but may continue his investigation regardless. Voting rights advocates, including likely gubernatorial candidate Xavier Becerra, frame the case as a test of sheriff authority ahead of the 2026 midterms amid broader efforts by Trump-aligned officials to challenge election administration. A ruling is expected in coming months.
Sentiment
- Riverside County, California Riverside County is central to the controversy as the site of the sheriff's disputed ballot seizure.
- Donald Trump Trump is mentioned as aligned with officials challenging election administration, a tangential but negative association.
- Law enforcement Law enforcement is implicated via Sheriff Bianco's contested seizure of ballots, raising questions about overreach.
- Rob Bonta Bonta is portrayed as the authority attempting to enforce election law against an overreaching sheriff, casting him favorably.
- Xavier Becerra Becerra is cast as a voting rights advocate framing the case as important, a favorable portrayal.
- California California is the factual setting of the court case without direct reputational spin.
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Elections
Becerra, Hilton clash in only debate of California governor’s race
PN Team • 1 month ago
Democrat Xavier Becerra and Republican Steve Hilton met Wednesday, Sept. 30, in what is expected to be their only one-on-one debate before the Nov. 3 general election to succeed term-limited Gov. Gavin Newsom. CNN hosted the hour-long, prime-time debate in Los Angeles, with Jake Tapper and Dana Bash moderating.
The two clashed over the state's direction, with cost of living emerging as the top issue for voters. Becerra, a former congressman, state attorney general and Biden administration health secretary, pitched himself as the experienced choice, while Hilton, a Trump-endorsed former Fox News host, blamed Democratic leadership for California's high costs.
Polls show Becerra leading by wide margins, reflecting the state's heavily Democratic voter registration. The debate is seen as low-risk for Becerra but a make-or-break moment for Hilton, whose embrace of Trump's endorsement remains a liability with California voters. Becerra faces scrutiny over housing costs and unresolved homelessness under Democratic governance. No Republican has won the governorship since Arnold Schwarzenegger, and Hilton faces a steep climb in a state that hasn't elected one in 20 years.
Sources:
Sentiment
- Xavier Becerra Becerra is portrayed as the experienced frontrunner with a low-risk debate performance, though facing some scrutiny on housing and homelessness.
- Steve Hilton Hilton is portrayed as facing a make-or-break, uphill battle burdened by Trump's unpopular endorsement in California.
- Donald Trump Trump's endorsement is described as a political liability for Hilton among California voters.
- Democratic Party (United States) Hilton blamed Democratic leadership for California's high costs, casting mild criticism on the party.
- California California is discussed neutrally as the setting for the election and policy debates.
- Gavin Newsom Newsom is mentioned only as the term-limited outgoing governor, a neutral factual reference.
- Republican Party (United States) Republican Party is mentioned mainly in context of Hilton's uphill electoral challenge in California.
- Los Angeles Los Angeles is mentioned only as the debate's location.
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Elections
California’s Proposition 40 billionaire wealth tax heads to tight Election Day vote
PN Team • 1 week ago
Proposition 40 would impose a one-time 5% wealth tax on roughly 200 California billionaires to fund healthcare programs facing cuts from federal policy changes, with proponents estimating it could raise up to $100 billion. Polling shows a narrowing lead for "Yes," while prediction markets on Kalshi and Polymarket put passage odds well under 30%. Opponents, including Gov. Gavin Newsom and both gubernatorial candidates, argue wealthy residents will relocate, eroding the tax base; Google's Sergey Brin is the measure's largest individual funder of opposition. Nvidia's Jensen Huang has voiced support. Competing ballot measures, Propositions 41 and 42, could nullify Prop 40 even if it passes.
Sources:
Sentiment
- Gavin Newsom Newsom is portrayed opposing a popular tax measure aimed at funding healthcare, a position that could be seen as siding with billionaires over constituents.
- Governor of California The Governor's office is referenced as part of organized opposition to the measure, a neutral-to-mildly negative factual mention.
- California California is the factual setting of the ballot measure with no inherent reputational slant.
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Elections
Becerra, Hilton offer contrasting but vague healthcare plans in California governor’s race
PN Team • 1 month ago
Healthcare affordability has emerged as a central issue in California's governor's race, but Democrat Xavier Becerra and Republican Steve Hilton have offered few specifics on cost or funding. Becerra, who calls himself the "healthcare governor," touts his record defending the Affordable Care Act and a major antitrust settlement against Sutter Health as attorney general. He pledges to pursue universal coverage, prioritize primary care, and continue covering Californians affected by federal Medicaid cuts, but has not explained how he would pay for it, even as state officials warn the cuts could cost California up to $30 billion annually.
Hilton's "Working Class Healthcare Guarantee," unveiled last week, calls for price transparency, replacing part of Medi-Cal with health spending accounts, and a reinsurance program to stabilize premiums, though he could not estimate costs or savings. Both candidates support expanding low-cost drug programs. Becerra has raised over $33 million, including substantial healthcare industry donations, and leads polling by a wide margin heading toward their CNN debate.
Sources:
Sentiment
- Steve Hilton Hilton's healthcare plan is portrayed as vague and lacking cost estimates, a mildly unfavorable framing.
- United States Congress Congress is referenced indirectly via federal Medicaid cuts, a mildly negative context without direct blame assigned.
- Xavier Becerra Becerra is portrayed with a strong healthcare record and lead in polling, though also criticized for lacking funding specifics, balancing to a slightly favorable tone.
- California California is the setting for the governor's race and healthcare policy debate, a neutral contextual mention.
- Democratic Party (United States) The Democratic Party is referenced only to identify Becerra's affiliation, without evaluative content.
- Republican Party (United States) The Republican Party is referenced only to identify Hilton's affiliation, without evaluative content.
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Elections
Becerra and Hilton Face Off in Combative California Governor Debate
PN Team • 4 weeks ago
Democrat Xavier Becerra and Republican Steve Hilton met on CNN for a debate ahead of California's Nov. 3 gubernatorial election, moderated by Jake Tapper and Dana Bash. The exchange was widely panned as lackluster, with both candidates drawing criticism for weak performances. Becerra, the former U.S. Secretary of Health and Human Services, repeated claims that he has "fought all my life to defend immigrants," a record critics dispute given his quiet stance during the Obama administration's deportation policies. He also accused Hilton of wanting to "welcome immigrants who look like you, but deport immigrants who look like me," a remark Hilton called "disgraceful."
Hilton, a former Fox News host who received Donald Trump's primary endorsement, avoided directly answering whether he'd direct state law enforcement to assist federal immigration enforcement. Polling from the UC Berkeley Institute of Governmental Studies shows Becerra with a substantial lead and more favorable overall ratings than Hilton heading into the final weeks of the race.
Sources:
Sentiment
- Steve Hilton Hilton is portrayed as evasive on policy and criticized for inflammatory remarks, alongside a weak debate performance and trailing poll numbers.
- Barack Obama Referenced in connection with deportation policies that critics say Becerra failed to challenge, casting a mildly negative shadow.
- Donald Trump Mentioned as having endorsed Hilton in the primary, a neutral-to-slightly-favorable association.
- Xavier Becerra Becerra is shown leading in polls but also faces criticism for a disputed immigration record and a weak debate performance.
- Law enforcement Mentioned only in relation to Hilton's evasive stance on directing law enforcement to aid federal immigration efforts.
- California California is the factual setting for the gubernatorial race and debate.
- Democratic Party (United States) Becerra's party affiliation is mentioned factually without additional commentary.
- Republican Party (United States) Hilton's party affiliation is mentioned factually without additional commentary.
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Elections
Hilton trails Becerra in California governor race polling ahead of first debate
PN Team • 2 months ago
A recent Berkeley IGS/Los Angeles Times poll shows Republican gubernatorial candidate Steve Hilton with support from 37% of California voters, trailing Democrat Xavier Becerra, the former U.S. Health and Human Services Secretary, who holds 55%. About 7% remain undecided. The two are set to meet in their first debate on September 30 in Los Angeles, televised on CNN, which could shift the current standing.
Hilton, a former strategist for ex-British Prime Minister David Cameron and a Brexit supporter, has never held elected office and only became a U.S. citizen in 2021 after relocating to California in 2012. He has received an endorsement from President Donald Trump, whose immigration policies contrast with Hilton's own background as the son of Hungarian refugees. Despite trailing significantly, Hilton is seen as outperforming typical Republican prospects in heavily Democratic California, where registered Republicans make up about 25% of voters compared to 45% who are Democrats. Polling could shift meaningfully once debate performances are factored in.
Sources:
Sentiment
- Xavier Becerra Becerra is shown with a substantial polling lead and a strong prior government credential, reflecting favorably on him.
- Steve Hilton Hilton is portrayed as a notable underdog outperforming typical Republican expectations in California despite trailing in polls.
- Donald Trump Trump's endorsement is noted alongside a contrast highlighting hypocrisy given his immigration policies versus Hilton's refugee background.
- Democratic Party (United States) The Democratic Party is mentioned as Becerra's affiliation and in voter registration context, a neutral factual reference.
- Republican Party (United States) The Republican Party is mentioned as trailing significantly in a heavily Democratic state, a mildly unfavorable but factual context.
- California California is the setting of the race, mentioned factually without particular reputational framing.
- Governor of California The California governor race is the subject of the article, a neutral factual framing.
- Los Angeles Los Angeles is mentioned as the debate location, a neutral factual reference.
- United States The United States is referenced factually regarding Hilton's citizenship and the broader political context.
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Elections
Becerra Holds Wide Poll Lead Over Hilton in California Governor’s Race
PN Team • 1 month ago
A UC Berkeley Institute of Governmental Studies poll shows Democratic gubernatorial nominee Xavier Becerra leading Republican Steve Hilton 58% to 33% among likely California voters, up from a 55%-37% edge in May. A separate September Public Policy Institute of California survey similarly put Becerra ahead 60% to 38%. Cost of living, including housing and fuel prices, ranked as voters' top concern. Hilton has downplayed the gap, arguing Californians want change after 16 years of one-party rule and citing campaign momentum.
The consistency of two double-digit leads is notable, but recent election history urges caution about treating September polling as a final verdict ahead of the November 3 vote. Analyses of the last three presidential elections found polls systematically underestimated Republican support relative to Democrats, and 2022 Wisconsin Senate polling swung sharply in the campaign's final weeks. Turnout modeling and late-deciding voters remain wildcards. For now, available data shows Becerra with a substantial advantage, though the race's final outcome is not yet determined.
Sources:
Sentiment
- Xavier Becerra Becerra is portrayed as holding a strong, consistent double-digit lead in multiple polls.
- Democratic Party (United States) The Democratic nominee holds a large polling lead, reflecting positively on the party's standing in the race.
- Steve Hilton Hilton is shown trailing significantly and downplaying a widening deficit.
- Republican Party (United States) The Republican nominee trails badly in polling despite claims of momentum.
- California California is the setting of the governor's race discussed factually.
- Wisconsin Referenced as an example of volatile late-campaign polling shifts, not directly reputational.
- United States Mentioned only in reference to national election history and polling accuracy trends.
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Local & State
Newsom vetoes California bill shielding abortion providers from extradition
PN Team • 1 month ago
Gov. Gavin Newsom has vetoed Assembly Bill 2164, which would have barred California governors from honoring extradition requests from states seeking to prosecute people for performing or assisting with abortions or gender transition procedures banned elsewhere. The bill passed the Democratic-controlled Legislature largely along party lines. Newsom said he supports the underlying goal but objected to the Legislature binding a future governor's executive authority over extradition, calling it "an entirely executive function" that should remain discretionary.
California is among roughly 20 states with shield laws protecting abortion or gender-affirming care providers. Reproductive Freedom for All criticized the veto, warning that a potential win by Republican gubernatorial candidate Steve Hilton could leave providers vulnerable, though polling shows Democrat Xavier Becerra with a substantial lead in the race. Newsom, seen as a likely 2028 Democratic presidential contender and currently polling second behind Kamala Harris in early primary surveys, touted his broader record on reproductive rights protections despite the veto.
Sources:
Sentiment
- Gavin Newsom Newsom faces criticism from reproductive rights advocates for vetoing the bill, though he frames it as a principled stance on executive authority, netting a mildly negative reputational impact.
- Governor of California The governorship's executive authority is central to Newsom's veto rationale, a neutral institutional mention.
- Steve Hilton Hilton is mentioned as a potential threat to abortion providers if elected, a slightly unfavorable framing, though he trails in polling.
- California California is described as having shield laws protecting providers, a mostly neutral-to-favorable factual mention.
- Democratic Party (United States) Noted as controlling the Legislature that passed the bill, a neutral factual mention.
- Republican Party (United States) Mentioned only as the party of gubernatorial candidate Steve Hilton, a factual reference.
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Politics
California AG rejects Paramount Skydance settlement pressure amid bond fight
PN Team • 2 months ago
California Attorney General Rob Bonta has publicly pushed back on Paramount Skydance's tactics in the antitrust suit over its $111 billion acquisition of Warner Bros. Discovery, calling a recent motion to force a $1.88 billion bond onto taxpayers a sign of "desperation" and dismissing threats to relocate Paramount out of California as ineffective pressure. Bonta, who leads 12 state attorneys general suing to block the merger ahead of a March trial, said he remains open to settlement talks but only through "structural," not "behavioral," remedies — such as divesting cable channels rather than pledging future theatrical output.
Bonta noted some shifting positions among stakeholders, with the DGA, IATSE and Cinema United now favoring settlement, though WGA, SAG-AFTRA and the Teamsters still oppose the deal. He said Governor Newsom and gubernatorial candidate Xavier Becerra's comments favoring negotiation align with his own preference to resolve disputes outside court, while insisting the case remains a straightforward antitrust matter unaffected by press-freedom concerns over CNN or CBS News ownership. Arizona lawmakers continue to scrutinize taxpayer exposure from the bond dispute.
Sentiment
- Rob Bonta AG Bonta is portrayed as a firm, principled figure standing up to corporate pressure while remaining open to legitimate settlement.
- Gavin Newsom Governor Newsom is portrayed favorably as supporting negotiation, aligning with the AG's preferred approach.
- Xavier Becerra Becerra is mentioned neutrally to favorably as supporting negotiation, aligning with the AG's stance.
- Arizona Arizona is mentioned as scrutinizing taxpayer exposure, a neutral-to-slightly critical procedural detail.
- California California is mentioned as the jurisdiction leading the antitrust case, a neutral factual reference.
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Politics
California attorneys general settle Paramount-Warner Bros. merger challenge amid dissent
PN Team • 1 month ago
California Attorney General Rob Bonta reached a settlement allowing the $111 billion Paramount-Warner Bros. merger to proceed, ending a 12-state antitrust challenge, but the deal has drawn criticism from within the Democratic coalition itself. Sources say Gov. Gavin Newsom, LA Mayor Karen Bass and gubernatorial front-runner Xavier Becerra pressured Bonta to settle, while attorneys general in New York and Connecticut wanted stronger concessions before ultimately signing on. Paramount agreed to production commitments, spending on U.S. film production, preserving its California lots, and an oversight board meant to protect editorial independence at CNN and CBS News, both folded into the merger under CEO David Ellison.
Critics, including Sen. Cory Booker and the Writers Guild of America, argue the deal is too weak and that Ellison's threat to relocate Paramount out of California influenced the outcome. Some attorneys general called it only a partial win, while Bonta defended it as enforceable, with divestment penalties if Paramount fails to comply.
Sources:
Sentiment
- Gavin Newsom Newsom is described as pressuring the attorney general to settle, implying political interference for expedience.
- Xavier Becerra Becerra is depicted as using political influence to push for settlement, a slightly negative characterization.
- Democratic Party (United States) The article highlights internal Democratic dissent and pressure tactics, suggesting disunity and political maneuvering within the party.
- Cory Booker Cory Booker is portrayed as a critic pushing for stronger consumer/antitrust protections, a mildly favorable stance.
- Rob Bonta Bonta faces criticism for settling under pressure, though he defends the deal as enforceable, a mixed portrayal.
- California California is referenced as the site of production commitments and preserved film lots, a mostly neutral factual mention.
- Connecticut Connecticut's attorney general is noted as pushing for stronger concessions, a mildly favorable stance for consumer protection.
- New York (state) New York's attorney general similarly sought stronger terms, reflecting a mildly favorable diligence.
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Leading:
97.5%
Xavier Becerra
Vol $12.5m
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Leading:
96%
Above 10M
Vol $490.00
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Leading:
49.5%
Mike Thompson
Vol $34k
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Leading:
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Leading:
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