US EditionRace for California Governor Moves on After Dramatic Downfall of Rep. Eric Swalwell
Prediction markets put Steyer at a 55% chance of winning after Swalwell withdrew amid sexual misconduct allegations.
- Billionaire philanthropist Tom Steyer emerged as the favorite to win California's gubernatorial election on Tuesday, with prediction markets Kalshi and Polymarket giving him 55% odds following Democratic Rep. Eric Swalwell's sudden withdrawal.
- Swalwell suspended his campaign on Sunday amid sexual misconduct allegations that broke on Friday; he subsequently announced plans to resign from Congress, citing the need to avoid distracting his constituents.
- Steyer, who founded hedge fund Farallon Capital, has secured endorsements from several state lawmakers and is self-funding his campaign, positioning his business background as a challenge to the political status quo.
- San Jose Democratic Mayor Matt Mahan criticized the field, saying, "California deserves so much better," noting the presence of a billionaire and a MAGA-backed television commentator.
- With more than 50 candidates remaining in the unpredictable June 2 primary, voters face a wide-open contest, while Republicans have yet to settle on a preferred candidate for the general election.
37 Articles
37 Articles
Swalwell supporters scramble after he drops out of California governor’s race. Who will benefit?
SACRAMENTO — The big-money backers and Democratic heavyweights who tried to crown Rep. Eric Swalwell as California’s next governor before his scandal-plagued exit from the political arena are now scrambling to find a new favorite among the candidates they either…
This billionaire is the odds-on favorite to become California's governor after Swalwell dropped out
Both Kalshi and Polymarket give billionaire Tom Steyer a 55% chance of becoming the next governor of California.Ronaldo Bolaños / Los Angeles Times via Getty ImagesFor months, Rep. Eric Swalwell was leading the prediction market odds for governor of California.He dropped out of the race on Sunday amid sexual misconduct allegations.Now, billionaire Tom Steyer is the odds-on favorite, with 55% on Kalshi and Polymarket.There's a new favorite to be …
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Palo Alto OnlineHere’s who benefits from Swalwell’s downfall and the shakeup of the California governor race
This story was originally published by CalMatters. Sign up for their newsletters. Sunday afternoon, during the television broadcast of a San Francisco Giants-Baltimore Orioles baseball game, an ad popped up, accusing Rep. Eric Swalwell of ducking tough votes in Congress. The ad came from Tom Steyer, a billionaire investor who saw Swalwell as his toughest […] The post Here’s who benefits from Swalwell’s downfall and the shakeup of the California …
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