- Closer Senate Race: Nebraska or Texas?>99¢>99%
Texas Senate contest draws greater trader attention as the tighter race. In Nebraska, incumbent Republican Pete Ricketts holds a narrow edge over independent Dan Osborn in limited polling, with averages showing roughly a 1–2 point Republican lead and forecasts rating the race a toss-up or lean Republican. Texas features an open seat where Republican Ken Paxton faces Democrat James Talarico; recent surveys show margins under 3 points either way, with polling averages often near even or slight Democratic leads amid dozens of releases. Heavy outside spending exceeding $290 million, Paxton’s primary victory over an incumbent, ongoing controversies, and elevated national focus contribute to higher perceived volatility in Texas compared with Nebraska’s more contained polling sample and structural Republican lean. Both remain among the closest 2026 Senate races, but Texas polling volume and campaign intensity support the 63% market consensus favoring it as narrower.
Rules
The 2026 midterm elections are scheduled to be held on November 3, 2026. This market will resolve to "Nebraska" if the regularly-scheduled US Senate race in Nebraska has a smaller unrounded margin of victory than that of the Texas Senate election. This market will resolve to "Texas" if the regularly-scheduled US Senate race in Texas has a smaller unrounded margin of victory than that of the Nebraska Senate election. If both states have the same margin of victory, this market will resolve 50-50. For the purpose of this market, the “margin of victory” is defined as the absolute difference between the percentages of valid votes received by the first- and second-place candidates. Percentages of the valid votes received by each candidate will be determined by dividing the total number of valid votes each of the top two candidates receives by the sum of all valid votes cast in the election. For elections that include runoffs, ranked-choice, or other multi-round elections, the relevant margin of victory will be that of the round in which the winner is determined. In the event that a relevant margin of victory cannot be determined by March 31, 2027, that state's margin of victory will be considered to be 0% for purposes of this market. The resolution source for this market will be a compilation of all of the relevant state election authorities responsible for certifying statewide elections, however, a consensus of credible reporting may also be used.