Elections Intelligence

New Mexico Governor

OPEN SEATLikely D

Michelle Lujan Grisham (D) has held this seat since 2019 and is term-limited.

Deb Haaland Open-seat nominee
91.8¢
Party market · checked 2:09 PM ETView on Kalshi ↗
8.2¢
Gregg Hull Open-seat nominee

FTP Race Signal

FTP Race SignalA composite of market, polling and money. The prediction-market price anchors it; a polling average moves it: the last 30 days, or the three most recent pollsters when fewer polled. Polls paid for by a candidate, party or allied group move 2 points toward the other side and count half. When the three most recent independent pollsters each have the race within three points, it is a Toss-up unless the market is already decisive. Fundraising counts only at a five-to-one gap. Past results are context, not inputs. A rating changes only when the evidence clears the line.

The market has run well past this seat's history: a 6-point Democratic hold in 2022, priced at 91.8¢ today.

Likely D
Safe DLikely DLean DToss-upLean RLikely RSafe R
Market · Likely DD 91.8¢: traders' price for a Democratic hold. Polling · Lean DD+6.4 (average of 3 pollsters, Oct 9). Prior result · Lean DD+6.38 in 2022.

Market and polls both favor Haaland.

The market moved 3¢ toward the Republican in the last 7 days. As of October 12.

Market

BandPRICEToss-up50¢ to 65¢Lean65¢ to 82¢Likely82¢ to 95¢Safe95¢ and above
D 91.8¢

Kalshi party market · checked 2:09 PM ET

View market on Kalshi ↗

Polling

BandPOINTSToss-up0 to 5Lean5 to 10Likely10 to 20Safe20 and above
D+6.4
Grayhouse ↗ Oct 1 to 9 · n=1,125 LV D+7 R-leaning firm
SurveyUSA ↗ A+ Sep 25 to 30 · n=567 LV D+6.2 Independent
Research & Polling Inc. ↗ A+ Aug 21 to 28 · n=600 LV D+6 Independent

Average of the latest poll from each of the 3 most recent pollsters; fewer than three polled in the last 30 days.

Earlier polls · 2
BSP Research ↗ B- Jul 22 to Aug 7 · n=800 RV D+17 Independent
McLaughlin & Associates ↗ July 13 to 15, 2026 · n=400 LV D+1 Independent

Prior result

BandPOINTSToss-up0 to 5Lean5 to 12Likely12 to 25Safe25 and above
D+6.4

Michelle Lujan Grisham (D)

52.0% to 45.6% · 2022 general election

def. Mark Ronchetti (R). Margin verified against retrieved official results.

Fundraising

BandRATIO TO 1Parity1 to 5Lean5 and above
9.1 to 1

Raised, cycle to date · thru Sep 7

Deb Haaland$17.30M ↗$3.43M cash
Gregg Hull$1.89M ↗$509.7K cash

Total receipts, cycle to date through September 7, 2026.

The general election is on November 3, which is 22 days away.