Short Answer

Both the model and the market favor Jon Bonck at approximately 93% probability.

1. Executive Verdict

  • Shelly deZevallos holds significantly more cash on hand for the runoff.
  • Lieutenant Governor Dan Patrick endorsed Shelly deZevallos, a major institutional backing.
  • Jon Bonck outspent deZevallos on TV ads before the primary election.
  • Specific ground game activities data for either candidate remains unavailable.
  • No primary target of negative advertising was identified in the runoff.

Who Wins and Why

Outcome Market Model Why
Jon Bonck 96.9% 93.1% Research does not highlight strong supporting evidence.
Shelly DeZevallos 4.5% 6.9% Research does not highlight strong supporting evidence.

2. Market Behavior & Price Dynamics

Historical Price (Probability)

Outcome probability
Date
The price for the TX-38 Republican nominee market has remained highly stable, trading in a very narrow sideways channel. The probability has fluctuated by only one percentage point, moving from a low of 95.9% to a high of 96.9%. This minimal price movement indicates a market with a static and unchanging view on the likely outcome. No significant price spikes or drops have occurred.
The lack of any provided news or market-moving context means the minor price adjustment cannot be attributed to a specific external event. More importantly, the total traded volume across the market's entire history is exceptionally low, at just one contract. This indicates very little market participation or conviction. The slight price increase is not the result of a significant influx of capital or a change in broad market opinion but is more likely the consequence of a single, small trade in an illiquid market.
The chart establishes a clear, albeit tight, trading range with support at 95.9% and resistance at 96.9%. The market sentiment is overwhelmingly confident in a "YES" resolution, with the price consistently holding above the 95% level. However, the extremely low volume suggests that this sentiment, while strong, is not being actively traded or challenged. The market is effectively dormant, reflecting a consensus that the outcome is a near certainty, leaving little incentive for new trading activity.

3. Market Data

View on Kalshi →

Contract Snapshot

This contract resolves to "Yes" if Jon Bonck wins the Republican nomination for the 2026 TX-38 House seat, and "No" otherwise, as the event is mutually exclusive. The market opened on February 11, 2026, and will close after the outcome occurs, or by November 3, 2027, at 11:00 am EDT, with payouts projected 30 minutes after closing. Employees of the Democratic and Republican Parties, which are the source agencies for verification, are prohibited from trading on this contract.

Available Contracts

Market options and current pricing

Outcome bucket Yes (price) No (price) Last trade probability
Jon Bonck $0.95 $0.12 97%
Shelly DeZevallos $0.11 $0.96 5%

Market Discussion

Limited public discussion available for this market.

4. What Were Key Financials and Ad Spending in the TX-38 Primary?

Highest Cash on Hand$175,000 (Shelly deZevallos) [^]
Most TV Ad Spending$250,000 (Jon Bonck) [^]
Shelly deZevallos TV Ad Spend$200,000 [^]
Shelly deZevallos's campaign reported the most cash on hand. In its final pre-primary FEC filing (Form 3) for Texas' 38th Congressional District, her campaign reported approximately $175,000 in 'Cash on Hand' [^]. Jon Bonck, another leading candidate in the primary, reported an estimated $130,000 in 'Cash on Hand' at that time [^]. Both deZevallos and Bonck subsequently advanced to a runoff election for the Republican nomination following the March 3, 2026 primary [^].
Jon Bonck's campaign led in pre-primary television ad reservations. For the final 14 days preceding the March 3rd Republican primary, his campaign reserved an estimated $250,000 in television ad spending within the Houston media market [^]. Shelly deZevallos's campaign, by comparison, reserved an estimated $200,000 in television ad spending in the same market and timeframe [^]. This significant ad spending, often tracked by media intelligence firms, reflects the highly competitive nature and record political advertising seen in Texas primaries [^].

5. Which TX-38 Candidates Have Key Endorsements and How Are They Used?

Most Impactful EndorsementShelly deZevallos by Lt. Governor Dan Patrick [^]
Barrett McNabb EndorsementsNone from national PACs or key Texas figures identified [^]
Leveraging EndorsementsDetails on use in direct mail/digital ads not available [^]
Shelly deZevallos has secured the most impactful endorsement. Lieutenant Governor Dan Patrick, a key Texas figure, has endorsed Shelly deZevallos, making her the candidate with the most significant support among those specified [^]. Her campaign website further highlights endorsements from various State Senators, State Representatives, and local officials [^]. DeZevallos is recognized as one of the leading contenders in the highly competitive Republican primary field for TX-38 [^].
Other candidates lack comparable impactful endorsements or details on usage. Barrett McNabb does not appear to have endorsements from national conservative PACs or prominent Texas figures like Ted Cruz or Dan Patrick, according to available sources [^]. Montiel is not explicitly identified as a top-tier candidate in the research, and no endorsements from national conservative PACs or key Texas figures are listed for them [^]. Furthermore, the available research does not provide specific information on how any of the candidates are leveraging their endorsements in direct mail campaigns or digital advertisements [^].

6. Can TX-38 Republican Primary Ground Game Be Assessed?

Block Walking Events (Final 30 Days)Data not available from provided research sources [^]
Phone Bank Events (Final 30 Days)Data not available from provided research sources [^]
Primary Data AvailablePrediction market odds, candidate bios, Ballotpedia entries [^]
Specific data on candidate ground game activities is unavailable. The conducted web research indicates that specific data points regarding the number of unique 'block walking' and 'phone bank' events held in the final 30 days of the campaign for any candidate in the TX-38 Republican primary are not accessible. Consequently, it is not possible to determine which candidate demonstrates the most robust ground game using these particular metrics from the provided information.
Available sources lack specific details on ground game events. The consulted sources primarily include prediction market odds for the TX-38 Republican nominee [^], LinkedIn profiles for Barrett McNabb [^] and Robert Cardenas [^], Ballotpedia entries for Jon Bonck and the 38th Congressional District [^], general campaign websites for Jon Bonck [^], and Texas election results information [^]. While these sources provide general candidate information and political predictions, they do not offer detailed schedules of ground game activities such as the frequency or dates of 'block walking' or 'phone bank' events. Therefore, without access to campaign social media, local event calendars, or direct campaign disclosures detailing these specific volunteer activities within the specified timeframe, a comparative analysis of their ground game effectiveness cannot be conducted.

7. What negative ad targets are in the TX-38 Republican runoff?

TX-38 Runoff CandidatesJon Bonck and Shelly deZevallos [^]
Runoff DateMay 26, 2026 [^]
Negative Ad InfoNo details available in research [^]
Research does not identify a primary target of negative advertising. The available web research for the TX-38 Republican primary runoff does not provide information identifying which candidate has become the primary target of negative advertising from opponents or independent expenditure groups, nor does it detail specific lines of attack being used against them. The Republican primary runoff for Texas' 38th Congressional District is scheduled for May 26, 2026, and features Jon Bonck and Shelly deZevallos [^]. Notably, Jon Bonck has received the backing of former President Donald Trump [^].
Available sources primarily focus on general election information and candidate profiles. Despite identifying the candidates and the runoff date, the research specifically lacks any details regarding negative advertising campaigns, particular attacks, or which candidate might be their intended target [^]. The provided information primarily concentrates on general election information, candidate identification, campaign finance data, and prediction market odds [^]. Consequently, based solely on the provided research, it is not possible to determine if a primary target of negative ads has emerged or what specific negative campaign strategies are being employed in the TX-38 runoff.

8. Can Jon Bonck or Shelly deZevallos Consolidate TX-38 Primary Support?

Runoff CandidatesJon Bonck (R) and Shelly deZevallos (R) [^]
Candidate EndorsementsBoth Bonck and deZevallos endorsed by former President Trump [^]
Eliminated CandidatesEight other candidates eliminated in March 3, 2026 primary [^]
Jon Bonck and Shelly deZevallos advanced to Republican runoff. Jon Bonck and Shelly deZevallos have progressed to the Republican primary runoff for Texas' 38th Congressional District, following the primary election on March 3, 2026 [^]. Both candidates are described as 'Trump-backed,' aligning them firmly within the conservative/MAGA wing of the Republican Party [^]. Eight other candidates were eliminated from the primary race: Barrett McNabb, Mark Ramsey, Alex del Barrio, David W. Lloyd, Crystal Chen, Phillip Aronoff, Pamela Hamman, and John N. O'Shea [^].
Consolidating support from eliminated candidates proves challenging. Identifying a candidate with a definitively clearer path to consolidating support from the voters of these eight eliminated contenders is challenging with the available information. The shared 'Trump-backed' status of both Bonck and deZevallos indicates they likely appeal to a similar voter base [^]. While Barrett McNabb, one of the eliminated candidates, is identified as a 'conservative Republican' supporting limited government and border security [^], the provided sources do not offer detailed ideological stances or public statements from the other seven eliminated candidates that would suggest a stronger affinity for either Bonck or deZevallos. Furthermore, there are no public endorsements from any of the eliminated candidates directing their support towards one of the runoff candidates.
No clear advantage for either candidate based on current data. Without specific endorsements from eliminated candidates or more granular ideological distinctions among the broader field of contenders, it is not possible to determine if Jon Bonck or Shelly deZevallos holds a clearer advantage in consolidating support. Both candidates are positioned within the same prominent ideological faction for the runoff, based solely on ideological lane and public statements from other contenders [^].

9. What Could Change the Odds

Key Catalysts

Catalyst analysis unavailable.

Key Dates & Catalysts

  • Expiration: November 03, 2027
  • Closes: November 03, 2027

10. Decision-Flipping Events

  • Trigger: Catalyst analysis unavailable.

12. Historical Resolutions

Historical Resolutions: 20 markets in this series

Outcomes: 4 resolved YES, 16 resolved NO

Recent resolutions:

  • KXTXPRIMARY-37R26-JMAL: NO (Apr 20, 2026)
  • KXTXPRIMARY-38D26-TCOU: NO (Mar 06, 2026)
  • KXTXPRIMARY-38D26-MMCD: YES (Mar 06, 2026)
  • KXTXPRIMARY-38D26-MHUN: NO (Mar 06, 2026)
  • KXTXPRIMARY-38R26-MPRA: NO (Apr 20, 2026)