Tim Walz Will Seek Third Term as Minnesota Governor, Bettors Like His Chances
Posted on: September 17, 2025, 12:11h.
Last updated on: September 17, 2025, 12:21h.
- Minnesota Gov. Tim Walz is seeking a third term
- Walz lost the 2024 presidential election with Kamala Harris
- Walz says he won’t run for president in 2028
Minnesota Gov. Tim Walz (D) will seek a third term. The 2024 Democratic vice presidential candidate announced on Tuesday that he has more work to do in St. Paul.
Walz, a former congressperson who served in the House of Representatives from 2007 until 2019, was elected governor during the 2018 gubernatorial election. Minnesota is one of 13 states that doesn’t impose gubernatorial term limits.
I’ve seen how we help each other through the hard times. And boy, we’ve seen terrible times this year. I’m heartbroken and angry about the beautiful people we lost to gun violence. But it’s in these moments that we have to come together. We can’t lose hope because I’ve seen what we can do when we work together,” Walz said in announcing his 2026 campaign.
“I’ve always tried to do what’s right for Minnesota, and I’ll never stop fighting to protect us from the chaos, corruption, and cruelty coming out of Washington,” the governor continued.
2026 Odds
Walz is the betting frontrunner for Minnesota’s 2026 gubernatorial election. The only Democrat so far to announce his candidacy, bettors on Kalshi give him an 86% chance of securing a third term.
Six Republicans have declared their candidacy, including state Rep. Kristin Robbins (R-Twin Cities).
Despite his 2024 presidential election defeat with Kamala Harris, Walz remains a frequently mentioned name on the list of possible Democratic nominees for the 2028 election. However, Kalshi’s market asking who will be the Democratic nominee in 2028 puts Walz’s odds at less than 1%. Walz says he won’t seek the party’s ticket to succeed President Donald Trump.
Billing himself as the “Midwest Dad,” Walz’s campaign says his governorship has led to “historic investment in education, prioritized clean energy, and created new good-paying jobs.”
“I’m running for reelection to continue serving. We’ve made historic progress in our state, but we’re not done yet. I’m staying in the fight — and I need you with me,” Walz said.
Walz’s opponents say he’s been bad for the state. They point to his handling of the unrest that followed the death of George Floyd and a $300 million COVID-19 pandemic food aid fraud case that occurred on his watch.
“Walz is a proven failure. Instead of boasting about a strong economy, great schools, or safe streets, the only thing Minnesotans can tout is the fact that Walz allowed the nation’s largest taxpayer-funded COVID program fraud to occur under his watch,” said US House Majority Whip Tom Emmer (R-MN).
2028 Presidential Odds
We’re not even halfway through Trump’s second term, but bettors are already wagering on the outcome of the 2028 election.
At this juncture, Vice President JD Vance is the betting favorite at implied odds of 30%. California Gov. Gavin Newsom (D) is next at 20%, and New York’s Democratic congressperson Alexandria Ocasio-Cortez is third at 6%. Former Transportation Secretary Pete Buttigieg (D) and Secretary of State Marco Rubio (R) are each at 5%.
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