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Value
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Democratic Party
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Republican Party
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AI Insights:
03.12 12:58 UpdatedFair Value Reasoning:
The OR-05 race in the 2026 midterms has effectively shifted to a 'Safe/Likely Democrat' hold. The critical March 10 filing deadline has passed (as of the analysis date March 12), and the GOP's sole tier-one recruit, former Rep. and current Labor Secretary Lori Chavez-DeRemer, did not resign to run. Without her, the GOP is fielding a second-tier candidate against incumbent Democrat Janelle Bynum. Given the historical trend of midterms favoring the party out of power (Democrats, with a GOP President) and Bynum's incumbency, the Democratic win probability should exceed 90%. The March 5 price (81c) reflects pre-deadline hesitation and is significantly undervalued.
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Divergence
Significant divergence exists. The market pricing (81% Dem) still implies a ~20% chance for the GOP, likely a remnant of pre-deadline uncertainty. However, with the March 10 filing deadline passed and no strong GOP challenger emerging, fundamental political analysis rates this seat as solid for the Democrats (>90%). The market price is lagging behind the confirmed candidate roster.