US midterm elections: Democrats projected to win control of the House and Senate
Nov 4, 2026
Americans voted in the midterm elections on Tuesday, November 3, 2026. According to CBS News projections published on November 4, Democrats are expected to win control of both the House of Representatives and the Senate.
What the projections show
According to CBS News:
- Democrats are projected to win a majority in the House of Representatives
- Democrats are projected to win a majority in the Senate
- in the Senate, Democrats were projected to win several seats previously held by Republicans, including in Texas, Ohio, North Carolina, Maine and Michigan
- several races, including the Senate contests in Alaska, Mississippi and Nebraska, had not yet been called at the time of the update
Projections are based on vote counts and other data and can change as more votes are counted. Final results are confirmed after official certification in each state.
When the new Congress starts
The newly elected Congress is due to take office in January 2027. Until then, the current Congress remains in place.
What midterm elections are
Midterm elections take place halfway through a president's four-year term. Voters elect all 435 members of the House of Representatives and about a third of the 100 senators. Many states also elect governors and vote on local measures. In 2026, voters also chose governors in a number of states.
What Congress does
Congress is the legislative branch of the US government. It passes laws, approves the federal budget and sets tax rules. Both chambers must agree on legislation before it goes to the president, who can sign it or veto it. The Senate also confirms many appointments, such as federal judges and members of the Federal Reserve Board.
Why elections are followed by markets
Changes in the control of Congress can affect which laws are likely to pass, for example on taxes, government spending, trade and the regulation of specific industries such as healthcare, energy and technology. When the presidency and Congress are controlled by different parties, it is sometimes described as a divided government, which can make it harder to pass major legislation.
Investors often follow election results because policy changes can affect companies' costs, revenues and the wider economy. Past market reactions to elections do not indicate future ones.
How projections are made
News organisations such as CBS News and the Associated Press project winners using counted votes, estimates of the votes still to be counted and survey data. A projection is made when a news organisation judges that a candidate's lead cannot be overcome. Projections are not official results: each state counts and certifies its own votes, and close races can go to recounts.
How control of each chamber works
A party needs at least 218 of the 435 seats to have a majority in the House of Representatives. In the Senate, a party needs 51 of the 100 seats, or 50 seats plus the vote of the vice president, who can break ties.
Other events this week
The October employment report from the US Bureau of Labor Statistics is scheduled for Friday, November 6. Several large companies are also reporting quarterly results this week. The Federal Reserve's next scheduled meeting is on December 8–9.
What to watch
Key items include the remaining race calls, any recounts, official certification of results and statements from congressional leaders about their priorities for 2027.
Risks and uncertainties
Election projections can change, and some races may take days or weeks to be decided. Policy outcomes are uncertain and depend on many factors. Markets can be volatile around elections.
What this means for investors
For Investing.one users following US markets, including S&P 500 ETFs such as CSPX.ETF and VUSA.ETF, the election results may be relevant. The information above is based on CBS News projections.
Sources
This is not investment advice. Your capital is at risk.
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