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AI Insights:
03.12 03:36 UpdatedFair Value Reasoning:
Based on the macro context of the 2026 midterm elections, the Democratic Party, as the opposition (assuming a Trump administration), enjoys a significant historical statistical advantage (the President's party typically loses seats in midterms). CA-13 is a D+4 leaning district, and Democratic candidate Adam Gray, as an incumbent who won during a headwind year in 2024, possesses strong incumbency advantages. Although there is an uncertainty discount given the election is 8 months away, the market price of 82c is slightly below the 'Likely Dem' rating (typically corresponding to 85%-90% win probability) justified by fundamentals.
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