Kalshi gives Democrats 88% odds of taking the Senate, a market record

Democrats are one step closer to a Senate sweep, at least in the eyes of Kalshi traders. The prediction market put Democrats' odds of winning control of the chamber at 88% on Tuesday, per Breaking The News. Republicans' chances of holding the Senate slipped to 12%, down from 14%.

Kalshi flagged Texas, Michigan, Maine, Iowa, Ohio, South Carolina and Kansas as the races most likely to decide who runs the chamber. Thirty-five Senate seats were up for grabs. Traders have piled nearly $198 million into Kalshi's Senate control market, a hefty pile of conviction behind the number.

President Donald Trump isn't waiting for results to telegraph his next move. He said he's ready to lean on veto power and executive authority if Democrats flip Congress, according to CBS News. Trump called the veto 'the ultimate power' and said he'd happily answer to 'Mr. Veto.'

One Democratic incumbent already has a seat locked down. Several US media outlets projected Senator Mark Warner will keep his Virginia seat, defeating Republican Bert Mizusawa.

On the House side, Minority Leader Hakeem Jeffries told volunteers Democrats would keep hammering on affordability, the Associated Press reported. 'We work for all of you, the American people,' he said, promising 'an America that's the best version of herself.' If Democrats win the chamber and hand him the gavel, Jeffries would become the first Black House speaker.

Voters streamed to the polls Tuesday after a campaign dominated by affordability, gas prices, security and the war in the Middle East. Trump's approval rating sits at 32%, near a career low, according to a Reuters/Ipsos poll — a backdrop that has Republicans fighting to beat the polls rather than trust them.