Balance of Power: 2026 Midterms

根据「Balance of Power: 2026 Midterms」的最新预测市场数据，交易者已形成强烈共识。

目前，Democrats Sweep 以压倒性的 49.5% 获胜概率主导市场；R Senate, D House 以 35.5% 位居第二，Republicans Sweep 以 11.5% 排名第三。该市场的下注量已达 $11M，反映出市场的高度关注。

为了更好地评估各潜在结果的位置，可依据隐含概率与合约定价将市场划分为三个明显的交易梯队：

🥇 第一梯队：绝对领跑者

• Democrats Sweep (49.5%)：Democrats Sweep 目前拥有最高概率，深受订单簿青睐。看好该结果的交易者面对的「Buy Yes」合约价为 50¢，显示出市场的高度确信。仅该合约就已产生 $2.8M 的成交量。

🥈 第二梯队：主要挑战者

• R Senate, D House (35.5%)：作为最可行的替代选项，R Senate, D House 保持着 35.5% 的成真概率，其「Buy Yes」份额目前成交价为 36¢。
• Republicans Sweep (11.5%)：以 11.5% 的概率位列第三，市场对 Republicans Sweep 持谨慎怀疑态度，除非势头转变，否则视其为外围黑马。

🥉 第三梯队：长尾选项（合计约 3.5%）

在前三名之外，还有大量宏观变量与冷门结果被持续追踪。尽管单个概率偏低，但它们是投机交易者的重要对冲：

• 替代选项：包括 D Senate, R House (1%)，以及 Other (0.3%)。
• 投机成交：尽管统计概率偏低，像 D Senate, R House 这类长尾合约仍吸引着可观的关注。

This market will resolve according to the party that wins control of the United States Senate and the party that wins control of the United States House of Representatives in the 2026 United States midterm election.

A party wins control of the United States Senate if it wins a majority of the chamber’s voting seats. If no party wins a majority of voting seats, the party that wins control of the chamber is the party that wins half of the voting seats and holds the Vice Presidency. If the outcome remains ambiguous after applying the above criteria, the chamber will be deemed controlled by the party with which the first selected President Pro Tempore of the Congress that convenes after the specified election is affiliated.

A party wins control of the United States House of Representatives if it wins a majority of the chamber’s voting seats. If no party wins a majority of voting seats, the chamber will be deemed controlled by the party with which the first elected Speaker of the House of the Congress that convenes after the 2026 midterm election is affiliated.

The following rules govern the counting of seats for determining which party wins control of the chambers.

For determining Senate control, all regular and special Senate elections that determine representation in the upcoming 120th Congress and are scheduled to take place in November 2026 as of October 31, 2026 are included. Vacant Senate seats for which no election or special election to fill the seat is scheduled to take place in November 2026 as of October 31, 2026 will be treated as held by the party affiliation of the most recent member to hold that seat. For determining House control, all House elections in the 2026 United States midterm election that elect voting members and determine representation in the upcoming 120th Congress are included. Where a Senate or House seat is decided by a runoff, the runoff result will determine attribution of that seat, even if it takes place after November 2026.

For seats contested in the specified election, seats are attributed to the party under which the member was elected. If a member-elect changes party affiliation, or vacates their seat, between election day and the formal organization of Congress, the seat is attributed to the party under which the member was elected.

For seats not contested in the specified election, seats are attributed to the party that holds the seat as of the date of the election. If a current sitting member of the U.S. Senate who is not up for election changes party affiliation or vacates their seat after the date of the election, the seat is attributed to the party under which the member was affiliated at the time of the election.

Senate and House members elected as independents who formally caucus with, or, for newly elected members, who announce their intent to caucus with, a party are included in that party’s count. If the caucus decisions of members of the Senate or House elected as independents cannot be determined on the date of the election, this market may remain open until the earlier of (i) an announcement from the relevant members of their intents to caucus, or (ii) January 4th, 11:59 PM ET of the following calendar year. If no such announcement is made by January 4th, 11:59 PM ET of the following calendar year, the member will not count towards the seat count of any party.

The resolution sources for this market will be official information from relevant state electoral authorities, the United States Congress, and a consensus of credible reporting.

人群共识与投机成交塑造了更宏观的预测市场，而我们的量化算法提供了数据驱动的反向视角。通过分析基本面信号、底层趋势与历史分布，我们的 AI 估值模型为每个结果独立测算出一个「公允价值」概率。

将该公允价值与当前交易价值对比，可揭示出重大背离——即期望值（EV）差。正 EV 差代表统计上被低估的结果，而负 EV 差则提示市场可能存在反应过度。

顶级 AI Alpha 与错误定价套利机会

根据最新一轮数据模型测算，以下几个关键合约存在显著偏离：

• 最被高估的结果：Republicans Sweep 当前交易价为 11.5%，但我们的 AI 测算其公允价值仅为 11.3%，形成 -0.2% 的较大负 EV 差，表明人群可能过度炒作该结果、把溢价推得过高。
• 最佳价值标的（最高 EV）：我们的模型将 R Senate, D House 识别为盘面上最具价值的机会。市场仅给予其 35.5% 的交易概率，而我们 AI 的公允价值评估为 46.7%——形成可观的 +11.2% EV 差。
• 被忽视的黑马：其他值得注意的偏离包括 D Senate, R House（EV 差：+1.2%）以及 Other（EV 差：+0.4%）。尽管我们的预测模型给予更强的统计支撑，这些长尾机会仍被实时订单簿大幅低估。