Elections Intelligence

New Mexico 2nd District

DEFENDED SEATLean D

Gabe Vasquez (D) has held this seat since 2023 and is running for re-election. Before that: Yvette Herrell (R).

Gabe Vasquez Incumbent
92.9¢
Party market · checked 2:09 PM ETView on Kalshi ↗
8.5¢
Greg Cunningham Challenger

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 4-point Democratic hold in 2024, priced at 92.9¢ today.

Lean D
Safe DLikely DLean DToss-upLean RLikely RSafe R
Market · Likely DD 92.9¢: traders' price for a Democratic hold. Prior result · Toss-upD+4.16 in 2024. Polling · Toss-upD+3.6 (average of 3 pollsters, Oct 9).

Market and polls both favor Vasquez.

As of October 12.

Market

BandPRICEToss-up50¢ to 65¢Lean65¢ to 82¢Likely82¢ to 95¢Safe95¢ and above
D 92.9¢

Kalshi party market · checked 2:09 PM ET

View market on Kalshi ↗

Polling

BandPOINTSToss-up0 to 5Lean5 to 10Likely10 to 20Safe20 and above
D+3.6
Research & Polling Inc. ↗ A+ Oct 1 to 9 · n=383 LV D+4 Independent
SurveyUSA ↗ A+ Aug 28 to Sep 2 · n=554 LV D+3 Independent
co/efficient (R) ↗ April 26 to 28, 2026 · n=879 LV D+2 NRCC sponsor D+2 · NRCC sponsor · counts as D+4 at half weight

Average of the latest poll from each of the 3 most recent pollsters; fewer than three polled in the last 30 days. Polls paid for by a candidate, party or allied group move 2 points toward the other side and count half.

Prior result

BandPOINTSToss-up0 to 5Lean5 to 12Likely12 to 25Safe25 and above
D+4.2

Gabe Vasquez (D)

52.1% to 47.9% · 2024 general election

def. Yvette Herrell (R). Margin verified against retrieved official results.

Fundraising

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

Raised 2025 to 2026 · thru Jun 30

Gabe Vasquez$3.78M ↗$2.38M cash
Greg Cunningham$1.49M ↗$794.2K cash

Total receipts in the 2025 to 2026 two-year cycle, through June 30, 2026; Vasquez leads 2.5 to 1, short of the 5 to 1 at which fundraising takes a place on the spectrum.

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