When will the House pass a reconciliation bill?
Short Answer
1. Executive Verdict
- House reconciliation vote highly probable mid-2026 or later.
- Republican leadership targets budget reconciliation for fiscal years 2026 or 2027.
- Reconciliation bills average 92 days for House passage in new administrations.
- House Freedom Caucus poses a key procedural bottleneck for reconciliation bills.
- House Republican leadership delayed markups over Senate's "Byrd bath" concerns.
Who Wins and Why
| Outcome | Market | Model | Why |
|---|---|---|---|
| Before May 1, 2026 | 1.0% | 1.1% | Model higher by 0.1pp |
| Before May 22, 2026 | 53.0% | 50.4% | Market higher by 2.6pp |
| Before Jun 12, 2026 | 55.0% | 52.3% | Market higher by 2.7pp |
| Before Jul 3, 2026 | 62.0% | 59.1% | Market higher by 2.9pp |
| Before Jan 1, 2027 | 88.0% | 86.3% | Market higher by 1.7pp |
2. Market Behavior & Price Dynamics
Historical Price (Probability)
3. Significant Price Movements
Notable price changes detected in the chart, along with research into what caused each movement.
Outcome: Before Jun 12, 2026
📉 April 17, 2026: 17.0pp drop
Price decreased from 75.0% to 58.0%
📈 April 12, 2026: 12.0pp spike
Price increased from 49.0% to 61.0%
Outcome: Before May 22, 2026
📈 April 16, 2026: 15.0pp spike
Price increased from 42.0% to 57.0%
📈 April 11, 2026: 22.0pp spike
Price increased from 21.0% to 43.0%
Outcome: Before Jul 3, 2026
📉 April 08, 2026: 11.0pp drop
Price decreased from 68.0% to 57.0%
4. Market Data
Contract Snapshot
This market resolves to "Yes" if the House of Representatives passes a reconciliation bill, typically identified by the phrase "To provide for reconciliation pursuant to…", before May 22, 2026. If no such bill passes by this deadline, the market resolves to "No." The market opened on March 25, 2026, at 10:00 am EDT, and will close early if the event occurs, or by May 22, 2026, at 10:00 am EDT if it does not, with outcomes verified by the Library of Congress and projected payout 25 hours after closing.
Available Contracts
Market options and current pricing
| Outcome bucket | Yes (price) | No (price) | Last trade probability |
|---|---|---|---|
| Before May 1, 2026 | $0.02 | $0.99 | 1% |
| Before May 22, 2026 | $0.53 | $0.48 | 53% |
| Before Jun 12, 2026 | $0.56 | $0.49 | 55% |
| Before Jul 3, 2026 | $0.86 | $0.22 | 62% |
| Before Jan 1, 2027 | $0.87 | $0.15 | 88% |
Market Discussion
Limited public discussion available for this market.
5. What are the GOP's Post-2024 Budget Reconciliation Plans?
| Reconciliation Plan | GOP leadership plans to use budget reconciliation for fiscal years 2026 or 2027 [^] |
|---|---|
| Key Fiscal Policy | Explicitly planned large-scale fiscal policy is providing money for defense [^] |
| Package Approach | Senate GOP leadership aims for an "anorexic-like" (focused) reconciliation package [^] |
6. How Long Does Budget Reconciliation Take in New Administrations?
| Historical Average Duration | Approximately 92 days [^] |
|---|---|
| Historical Median Duration | 51 days [^] |
| Range of Duration | 33 days to 326 days [^] |
7. What are the House Freedom Caucus's reconciliation demands?
| Primary Bottleneck | House Freedom Caucus for reconciliation bills beyond Q2 2026 [^] |
|---|---|
| Key Policy Demands | Immigration freeze and broad spending cuts [^] |
| DHS Funding Stance | Rejected GOP leaders' plan to fund DHS [^] |
8. Why Are House Reconciliation Markups Currently Being Delayed?
| Markup Delays | House GOP leadership has delayed reconciliation markups [^] |
|---|---|
| Senate Review Process | Reconciliation process is subject to the "Byrd bath" in Senate [^] |
| Senate Leadership View | Prefers an "anorexic-like" reconciliation package [^] |
9. When Could the House Vote on a Reconciliation Bill?
| Earliest Budget Markup | February 7, 2025 [^] |
|---|---|
| Budget Resolution Deadline | April 15 [^] |
| 2025 Summer Recess | July 28 - September 5, 2025 [^] |
10. What Could Change the Odds
Key Catalysts
Key Dates & Catalysts
- Expiration: May 03, 2026
- Closes: January 01, 2027
11. Decision-Flipping Events
- Trigger: Catalyst analysis unavailable.
13. Historical Resolutions
No historical resolution data available for this series.
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