Democrat James Talarico is gaining momentum in the Texas race for the U.S. Senate, surpassing Republican Ken Paxton on prediction markets. Talarico holds a 56 percent chance of winning on Kalshi, while Paxton is at 44 percent. This represents the first time Talarico has led on Kalshi, following weeks of competitive polling in a state long dominated by Republicans. The shift for Talarico occurred early on Wednesday.
On Polymarket, Talarico has a 52 percent chance of winning against Paxton’s 48 percent. The initial shift towards Talarico on Polymarket happened around 2:30 p.m. on Tuesday. Robert Y. Shapiro, a Columbia University professor, commented that this development could be a significant shift in the midterms, reflecting broader support for Democrats in both the House and Senate.
Texas remains a Republican stronghold, with President Donald Trump winning the state by a considerable margin in the 2024 presidential election. No Democrat has secured a Senate seat in Texas for decades. Currently, Republicans have a 53-45 majority in the Senate, excluding independent Senators Bernie Sanders and Angus King, who align with Democrats. Flipping the Texas seat is crucial for Democrats aiming to regain control of the Senate, while Republicans view it as essential to maintaining their lead.
Polling Insights
A Texas Public Opinion Research poll last month showed Talarico ahead with 45 percent compared to Paxton’s 40 percent. A Fox News poll mirrored this trend, showing Talarico leading Paxton 51 percent to 48 percent, within the margin of error. Among voters highly motivated and interested, Talarico leads 53 percent to 47 percent according to the Fox poll.
The Fox poll gathered responses from 1,006 Texas registered voters between July 23 and July 27, with a margin of error of 3 percent. The Texas Pulse survey, conducted by ReconMR for the Texas A&M Bush School, also reported Talarico leading Paxton, 47 percent to 43 percent among likely voters. This marks progress from June when both candidates were tied at 46 percent. The survey sampled 619 likely voters from July 27 to July 30, with a margin of error of plus or minus 4.7 percentage points.
Decision Desk HQ has labeled the race as a toss-up, slightly favoring Talarico. The Cook Political Report categorizes the race as Lean Republican.
Challenges for Paxton
Paxton’s main challenge lies in consolidating support from moderates and independents post-primary. The Texas Pulse survey indicated Talarico’s gain among independents, now up 23 points from 14 points in June. Paxton also faces new scrutiny over his political history, while Talarico’s campaign has raised more funds, bolstering the Democrats’ statewide efforts.
Even with these developments, Texas is not guaranteed to shift to a Democratic majority. Republicans still hold a foundational partisan advantage, and prediction-market prices can change based on minimal new information. However, Talarico now leads in prediction markets, indicating his growing competitiveness in the race.

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