How the contract works
Probability
How the price has moved
Analysis
Context
What moves the probability
Republican House majority
The 119th Congress, seated January 2025, is controlled by Republicans through the entirety of this question's window. Any impeachment vote needs a simple majority, and the majority party controls which measures reach a real floor vote rather than a tabling motion. This is the single largest force keeping the probability low.
Pattern of tabled resolutions
Privileged impeachment resolutions forced to the floor in 2025, including by Rep. Al Green, have been voted down or tabled with bipartisan support rather than advanced to debate. Each repetition of that pattern reinforces the market's read that the current House has no appetite to proceed.
Midterm timing mismatch
The 3 November 2026 midterm elections could change House control, but the new Congress does not convene until January 2027, after this question's 31 December 2026 deadline. A midterm result favorable to impeachment supporters therefore cannot affect this specific market.
Absence of a triggering scandal
A sudden, severe political event could in principle flip enough Republican votes to pass articles. No such event has moved this price meaningfully as of early November 2026, which is itself informative about how the market is reading the current political environment.
The case for
- A sufficiently damaging scandal or investigative finding before 31 December 2026 could persuade a critical mass of House Republicans to vote for articles.
- Democratic members can continue to force privileged resolutions to the floor at will, keeping repeated opportunities for a vote alive through the deadline.
- A House discharge petition, if it gathered 218 signatures including some Republicans, could bypass leadership entirely and bring articles to a vote on the merits.
The case against
- Republicans hold the House majority for the entire window this question covers, and Speaker Johnson controls the floor schedule.
- Every privileged impeachment resolution forced to a vote in 2025 was tabled, including with some Democratic votes, rather than advanced.
- The midterm elections on 3 November 2026 cannot change House control before the 31 December 2026 deadline, since the new Congress is not seated until January 2027.
- No reported scandal or investigation as of early November 2026 appears close to the scale needed to flip the dozens of Republican votes required.
What to watch
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