Short Answer

The model assigns meaningfully lower odds than the market for Mejia winning the 2026 NJ-11 special election by 20-24%, at 86.6% model probability versus 99.3% market probability.

1. Executive Verdict

  • Democratic candidate Mejia outraised Republican Hathaway by a two-to-one margin.
  • Recent 2025 New Jersey elections indicated a statewide Democratic surge.
  • NJ-11's Cook PVI is D+5, suggesting a moderate Democratic lean.
  • The district's historical elasticity suggests capacity for large electoral swings.

Who Wins and Why

Outcome Market Model Why
Mejia, 24% and above 0.3% 1.3% Model higher by 1.0pp
Mejia, 16-20% 0.5% 3.3% Model higher by 2.8pp
Mejia, 20-24% 99.3% 86.6% Market higher by 12.7pp
Hathaway, any margin 0.1% 0.3% Model higher by 0.2pp
Mejia, 8-12% 0.1% 5.3% Model higher by 5.2pp

2. Market Behavior & Price Dynamics

Historical Price (Probability)

Outcome probability
Date
This market exhibits a sideways trend within a very low probability range, trading between 0.1% and 2.0% since its inception. The price opened at 0.5% and has since drifted down to its current level of 0.1%, which represents the floor of its trading history. The peak probability of 2.0% serves as a historical resistance point. The most notable price movement was a drop from 0.5% to 0.3% around April 20th. As there is no external context or news provided, this price action appears to be driven by internal market dynamics rather than a specific real-world event.
Trading volume in this market has been sporadic, with a total of 56,965 contracts traded. A significant portion of this activity occurred during the price drop on April 20th, which saw over 6,100 contracts change hands. This concentration of volume on a downward move suggests a period of strong conviction among sellers. In contrast, periods with zero volume indicate a lack of active trading or general consensus at the prevailing price.
Overall, the chart reflects a strong and stable market sentiment that the outcome defined by this contract is extremely unlikely. The consistent low probability, coupled with the downward price drift from an already low starting point, indicates a consensus that the event has a near-zero chance of occurring. The 0.1% price level is acting as a firm support, suggesting the market has found its floor, but there is no corresponding buying pressure to indicate a potential reversal.

3. Significant Price Movements

Notable price changes detected in the chart, along with research into what caused each movement.

📉 April 20, 2026: 9.0pp drop

Price decreased from 18.0% to 9.0%

Outcome: Mejia, 16-20%

What happened: No supporting research available for this anomaly.

4. Market Data

View on Kalshi →

Contract Snapshot

This market resolves to Yes if Analilia Mejia's margin of victory in the 2026 NJ-11 special election is between 20% and 24%, inclusive of 20% but exclusive of 24%. The margin is calculated as Mejia's vote percentage minus the vote percentage of the next highest candidate, resolving to No if this condition is not met. Settlement occurs only after official results are certified by the State of New Jersey, and the market will close by April 16, 2027, if certified results are not published earlier.

Available Contracts

Market options and current pricing

Outcome bucket Yes (price) No (price) Last trade probability
Mejia, 20-24% $0.99 $0.01 99%
Mejia, 16-20% $0.01 $0.99 1%
Mejia, 24% and above $0.00 $1.00 0%
Hathaway, any margin $0.00 $1.00 0%
Mejia, 0-8% $0.00 $1.00 0%
Mejia, 12-16% $0.00 $1.00 0%
Mejia, 8-12% $0.00 $1.00 0%

Market Discussion

The market overwhelmingly predicts Analilia Mejia will win the 2026 NJ-11 special election by a margin of 20-24%, with this outcome holding a 99.3% probability. Traders indicate a specific expectation around 20.7%, noting that remaining ballots are not expected to alter the outcome. Most discussion revolves around inquiries about when the market will officially resolve.

5. How Does NJ-11 District Elasticity Relate to Midterm Swings?

Current NJ-11 PVID+5 (Cook Partisan Voting Index) [^]
2010 Midterm National Generic BallotR+6.8 [^]
2018 Midterm National Generic BallotD+6.7 [^]
Current NJ-11 PVI makes historical elasticity calculations difficult. New Jersey's 11th congressional district (NJ-11) currently holds a Cook Partisan Voting Index (PVI) of D+5, signifying a Democratic lean in an average national election environment [^]. However, the district's boundaries underwent significant redrawing following the 2020 census. Consequently, the current D+5 PVI reflects a distinct composition compared to its configurations during the 2010 and 2018 midterm elections, rendering direct comparisons and calculations of partisan elasticity for the present district challenging [^].
Past midterm results show varied swings in different district boundaries. While historical outcomes can be analyzed with caution, they illustrate the impact of changing district lines. For instance, in the 2010 midterm election, the national generic congressional ballot favored Republicans by 6.8 points (R+6.8) [^]. The then-existing NJ-11, which was a more Republican-leaning district, saw a Republican win by 26.9 points [^], indicating a substantial local swing beyond the national average at that time. Conversely, during the 2018 midterm, the national generic congressional ballot showed Democrats ahead by 6.7 points (D+6.7) [^]. The NJ-11 of that era, with a D+3 PVI after the 2010 redistricting, elected the Democrat by a 13.9-point margin [^]. The significant disparities in district-level swings between these two midterms underscore the influence of differing district boundaries, local candidate dynamics, and broader political environments. Therefore, a direct projection for 2026 based solely on these past figures for a distinct district is challenging.

6. How Do NJ-11 Candidates' Fundraising Totals Compare?

Analilia Mejia FundraisingOver $2.1 million raised, $1.1 million cash on hand [^]
Joe Hathaway FundraisingApproximately $1.1 million raised, $550,000 cash on hand [^]
Mejia vs. Hathaway RatioMejia outraised Hathaway two-to-one [^]
Analilia Mejia significantly outraised Joe Hathaway in the NJ-11 special election. Mejia collected over $2.1 million compared to Hathaway's approximately $1.1 million, establishing a two-to-one fundraising advantage. Mejia also holds a significant lead in cash on hand, with $1.1 million against Hathaway's $550,000 [^]. When benchmarked against the 2024 NY-03 special election, Tom Suozzi individually raised over $4.2 million, and the combined race totaled $6 million in just eight weeks [^], [^]. The current combined total of $3.2 million for Mejia and Hathaway is less than Suozzi's individual total, suggesting the financial intensity of the NJ-11 race may not yet match that high-spending benchmark.
Donation composition shows Mejia's strong individual and in-state support. Analilia Mejia's campaign received $1,326,793 from individuals and $743,300 from Political Committees, with New Jersey identified as the top state for contributions [^]. The $743,300 from Political Committees encompasses contributions from various PACs, which can be national in scope. For Joe Hathaway, while his total fundraising is known, available sources do not explicitly detail the breakdown of his itemized donations by origin, such as specific percentages from within New Jersey or national Super PACs [^].

7. Did 2025 New Jersey Elections Show a Rightward Shift in Suburbs?

2025 NJ Election OutcomeDemocratic sweep, Mikie Sherrill Governor [^]
NJ-11 Special Election TurnoutGenerally low, around 5% [^]
Morris County 2025 TrendDemocratic surge, not rightward shift [^]
The 2025 elections saw a Democratic surge, not a rightward shift. The New Jersey gubernatorial and state legislature elections in 2025 did not result in a widespread 'rightward shift' in key suburban swing precincts of Morris County. Instead, the statewide outcome was a sweep for Democratic candidate Mikie Sherrill, who became governor, with Democrats flipping six New Jersey counties back to blue [^]. While official reports for Morris County's 2025 general election are available [^], the general trend described by available research indicates a Democratic surge rather than a rightward shift [^].
No direct link exists between a rightward shift and turnout. Consequently, the premise of precincts showing a rightward shift in 2025 state-level races affecting subsequent Democratic turnout in federal special elections is not directly supported by the available information for Morris County. Turnout in New Jersey's 11th congressional district (NJ-11), which includes parts of Morris County [^], is generally low in special elections, often around 5% [^]. However, the provided sources do not establish a specific historical pattern or data linking prior state-level rightward shifts in precincts to subsequently depressed Democratic turnout in federal special elections in NJ-11. The prediction market for the 2026 NJ-11 special election margin of victory is active [^], but it does not offer historical analysis on this specific correlation.

8. Do Significant Primary Challenges Impact Congressional Election Performance?

Underperformance from significant primary challenge1.94 percentage points [^]
Performance with significant primary challenge1.45% better than party's presidential candidate [^]
Performance without significant primary challenge3.39% better than party's presidential candidate [^]
A 2012 New Jersey congressional race analysis indicates underperformance for candidates emerging from competitive primaries. Candidates whose primary opponents received over 30% of the vote underperformed their district's presidential-year baseline by an average of 1.94 percentage points. This underperformance is observed when compared to candidates who did not face a significant primary challenger [^].
Candidates with strong primary opponents saw lower general election gains. Specifically, those facing significant primary challenges performed, on average, 1.45% better than their party's presidential candidate in their respective districts. Conversely, candidates without a significant primary challenge, defined as an opponent receiving 30% or less of the vote or no opponent, performed 3.39% better than their party's presidential candidate on average within their districts [^].
The 2012 election cycle provided comprehensive data for this analysis. This research specifically utilized the 2012 election cycle due to the availability of comprehensive district-level presidential, general election, and primary results. The methodology involved comparing the winning congressional candidate's general election vote share to their party's presidential candidate's vote share within the same district, thereby establishing each congressional candidate's performance relative to their party's baseline for that presidential year [^].

9. When Do Outside Groups Make First Ad Buys in 'Lean D' Districts?

Latest Initial Independent Expenditure (CLF)September 19, 2022 (50 days pre-election) [^]
Earliest Initial Independent Expenditure (HMP)August 2, 2022 (98 days pre-election) [^]
Example 'Lean D' District RatingD+3 (NY-17) [^]
Major outside groups initiated ad buys 50-98 days before the 2022 election. In the 2022 election cycle, major outside groups typically began their first significant independent expenditures, specifically ad buys reported via 48-hour rules, in competitive 'Lean D' districts within a window of approximately 50 to 98 days before Election Day. The latest recorded initial ad buy occurred on September 19, 2022, which was 50 days prior to the November 8, 2022, general election.
Republican and Democratic groups show different earliest initial ad buy dates. The Congressional Leadership Fund (CLF), a prominent Republican outside group, made its first significant independent expenditures in a 'Lean D' district around September 19, 2022. For instance, a 48-hour notice filed on September 20, 2022, documented an expenditure on September 19 for broadcast television ads supporting Mike Lawler in New York's 17th Congressional District [^]. NY-17 was categorized as a 'Lean D' district with a D+3 rating by the 2022 Cook Partisan Voting Index, confirming its competitiveness [^]. Conversely, the House Majority PAC (HMP), a leading Democratic outside group, made its initial significant independent expenditures in a 'Lean D' district earlier in the 2022 cycle, observed around August 2, 2022, targeting races such as TX-34 (D+5), also a 'Lean D' district [^]. HMP's first significant ad buy in a competitive 'Lean D' district happened approximately 98 days before the election, distinct from its announced large reservations in June 2022 [^]. Specific early 48-hour independent expenditure data for the DCCC and NRCC in 'Lean D' districts was not explicitly detailed in the provided sources.

10. What Could Change the Odds

Key Catalysts

Catalyst analysis unavailable.

Key Dates & Catalysts

  • Expiration: April 16, 2027
  • Closes: April 16, 2027

11. Decision-Flipping Events

  • Trigger: Catalyst analysis unavailable.

13. Historical Resolutions

No historical resolution data available for this series.