The Prediction Markets

Texas Governor winner?

Closes
Nov 3, 2027, in 13 months
Traded
$4.4M
Venues
Polymarket, Kalshi
Prices updated
just now
Share

What the markets expect

Republican 64.4%

Next is Democratic at 35.6%. Polymarket and Kalshi agree within 1 point on every outcome.

Republican 64.4%Democratic 35.6%

Odds by venue

Fair chance strips out each venue’s built-in margin (its prices add up to more than 100%), then blends the venues by how much has traded there, so the outcomes add up to 100%. Best Yes price is the cheapest ask across venues, and the payout is what a winning $100 stake returns before fees. Open a row for each venue’s contract name, bid and ask, and how closely their rules match.

2 of 4 prices are live from the exchange feeds; the rest come from our regular price polls. Ages are as of when this page was built.

  • Polymarket
  • Kalshi
Republican
64.4%
Polymarket 64.7%live, just nowKalshi 65%(64.4% fair)live, just nowBest Yes 65¢ on Kalshi, $100 pays $154 (1.54x)
Polymarket
Contract
Greg Abbott (R)
Price
64.7%
As of
Live feed, just now
Buy Yes
65.1¢
Sell Yes
64.3¢
$100 on Yes pays
$154 (1.54x)
Volume
$406K
Trade this on Polymarket
Kalshi
Contract
Greg Abbott
Price
65%
Fair, margin removed
64.4%
As of
Live feed, just now
Buy Yes
65¢
Sell Yes
64¢
$100 on Yes pays
$154 (1.54x)
Volume
$1.4M
Trade this on Kalshi
Partial parity

Payoffs match in ordinary outcomes; see the rule differences below the table.

No arbitrage: the best bid elsewhere is 64.3¢, at or below the cheapest ask of 65¢.

Democratic
35.6%
Polymarket 35.5%polled, 30s agoKalshi 36%polled, 30s agoBest Yes 36¢ on Polymarket, $100 pays $278 (2.78x)
Polymarket
Contract
Gina Hinojosa (D)
Last price
35.5%
As of
Polled just now
Buy Yes
36¢
Sell Yes
35¢
$100 on Yes pays
$278 (2.78x)
Volume
$330K
Trade this on Polymarket
Kalshi
Contract
Gina Hinojosa
Last price
36%
As of
Polled just now
Buy Yes
36¢
Sell Yes
35¢
$100 on Yes pays
$278 (2.78x)
Volume
$2.3M
Trade this on Kalshi
Partial parity

Payoffs match in ordinary outcomes; see the rule differences below the table.

No arbitrage: the best bid elsewhere is 35¢, at or below the cheapest ask of 36¢.

No cross-venue arbitrage right now: on every matched outcome, the best bid on one venue is at or below the cheapest ask on the other. Find markets with open spreads

Mostly the same bet: 4 differences

Where they differ

  • Kalshi settles on the party of the officeholder sworn in/inaugurated for the new term; Polymarket settles on the party of the called winner. They differ if the winner dies, withdraws or is not seated before the term starts.
  • Independents: Polymarket assigns a non-affiliated winner by stated caucus (House) or excludes independents from party options (Senate/Governor); Kalshi requires party membership.
  • Kalshi may close early on a media-consensus projection; Polymarket resolves on consensus calls with certification as the fallback.
  • Trading closes at different times: Nov 4, 2026, 4:59 AM UTC on Polymarket and Nov 3, 2027, 3:00 PM UTC on Kalshi.
Polymarket
Polymarket resolves via:
UMA optimistic oracle
Kalshi
Kalshi resolves via:
Kalshi (CFTC-regulated exchange), source: Texas Secretary of State
Show full rule comparison
  • Kalshi settles on the party of the officeholder sworn in/inaugurated for the new term; Polymarket settles on the party of the called winner. They differ if the winner dies, withdraws or is not seated before the term starts.
  • Independents: Polymarket assigns a non-affiliated winner by stated caucus (House) or excludes independents from party options (Senate/Governor); Kalshi requires party membership.
  • Kalshi may close early on a media-consensus projection; Polymarket resolves on consensus calls with certification as the fallback.
  • Trading closes Nov 4, 2026, 4:59 AM UTC on Polymarket and Nov 3, 2027, 3:00 PM UTC on Kalshi.

Summarized from each venue’s published rules; the venue’s own rules page is the final word.

How the odds have moved

The top 2 outcomes on both venues, with the consensus between them. Hover for exact values.

  • Republican
  • Democratic

Live prices for Republican

What it costs to buy Yes, what you would get selling it, and the last trade on each exchange, updating as orders change. Hover a status for timing details.

Order books

Each venue’s resting orders for the selected outcome’s Yes contract, side by side. Top of book streams live; depth refreshes every 15 seconds.

Combined depth · both venues

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Polymarket

Open on Polymarket ↗

Top of book

Connecting
Best bid
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Spread
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Best ask
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Waiting for the first live quote…

Depth · top 8 levels

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Recent trades

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Kalshi

Open on Kalshi ↗

Top of book

Connecting
Best bid
—
Spread
—
Best ask
—

Waiting for the first live quote…

Depth · top 8 levels

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Recent trades

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What your stake buys

Enter a stake to see where it buys the most after fees, using each venue’s live order book.

$
Buy

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Cover all 2 outcomes across venues

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Buys at the asks resting now (taker orders), cheapest after fees first, from order-book snapshots up to 15 seconds old. Fees: Kalshi 0.07 × price × (1 − price) per share, rounded up to the cent; Polymarket 0.04 × price × (1 − price) per share (politics rate). Fee calculator. Estimates only, not advice.

About this market

Live prediction market odds for "Texas Governor winner?". Republican leads at 64.4%. Next is Democratic at 35.6%. $4.4M has traded across 2 outcomes on Kalshi and Polymarket. The market is expected to resolve by Nov 3, 2027.

Questions

What does the consensus price mean?

It is the price of a Yes contract that pays $1 if the outcome happens. A 14¢ price means traders put the chance near 14%. Where two venues list the same outcome, we blend their last prices, weighting the venue with more trading volume more heavily (neither counts for less than a quarter). When only one outcome can win, each venue’s prices add up to a little over 100% (its margin); the fair chance removes that margin so the outcomes add up to exactly 100%.

How is the payout worked out?

A Yes contract pays $1 if it wins, so at the best ask a $100 stake buys 100 ÷ ask contracts. At 18¢ that is about 555 contracts, paying $556 (5.56x) if Yes happens. Venue fees and price slippage on larger orders are not included.

Why do the venues show different prices?

Each venue has its own traders, fees and order book. Contracts can also settle on slightly different terms, which is why each row lists how closely the rules match.

Is a price gap an arbitrage?

Only when you can buy Yes on one venue below what someone pays for Yes on the other, after fees, and both contracts settle the same way. We show the executable bid and ask so you can check.

How fresh are these prices?

Venue prices refresh every few minutes, and the order book and live quotes stream continuously. Each venue’s card shows when we last observed it.

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