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WON politics
Will Ken Paxton drop out of the Texas Senate race before Mar 13, 2026?
The Setup
Ken Paxton forced four-term incumbent John Cornyn into a May runoff for the Texas Senate GOP nomination, but President Trump has demanded the unendorsed candidate drop out. The market prices a 12% chance Paxton exits before March 13. This is a classic clash between media-driven drama over Trump's demands and the institutional reality of a stubborn, well-positioned candidate who just won 40% of the primary vote.
Despite Trump's demand that the unendorsed candidate drop out, Ken Paxton holds a 51% to 40% runoff polling advantage over John Cornyn, making the 12% market price for a sudden exit highly inflated.
Market
88c
Our Estimate
95-99c
Edge
+9c
Bull Case
On March 4, 2026, President Trump stated he would make an endorsement soon and explicitly demanded that the unendorsed candidate immediately DROP OUT OF THE RACE! Trump has immense sway over the MAGA base, which is Paxton's core constituency. If Trump endorses Cornyn before March 13 and publicly turns his fire on Paxton, Paxton's funding and grassroots support could evaporate overnight, forcing a strategic withdrawal.
On March 5, 2026, Paxton publicly floated the idea of dropping out if the Senate passes the SAVE America Act by abolishing the filibuster. While framed as a political stunt to pressure Cornyn, floating a withdrawal condition is often a face-saving precursor to actually withdrawing. It signals to donors and supporters that he is looking for an off-ramp.
The primary was the most expensive in Texas history, with Cornyn and allies spending nearly $60 million to Paxton's $5 million, according to Punchbowl News on February 18, 2026. Facing a runoff against a massive financial juggernaut without Trump's backing might convince Paxton that the math is insurmountable, leading to a sudden exit before March 13 to avoid further embarrassment.
Bear Case
On March 5, 2026, Paxton explicitly told conservative commentator Benny Johnson that he would not drop out even if Trump endorsed Cornyn, stating, I have been in this race for almost a year, and we are going to win this race in the runoff. Paxton's entire brand is built on fighting the GOP establishment; defying a Trump endorsement to let the voters decide fits his maverick persona perfectly.
Paxton's stated condition for dropping out—Senate Republicans abolishing the filibuster to pass the SAVE America Act—is a procedural impossibility within a four-day window. As reported by The Texas Tribune on March 5, 2026, Senate Republicans, including Cornyn, have staunchly opposed ending the filibuster, and doing so requires a lengthy procedural fight that cannot be resolved by March 13.
Paxton performed exceptionally well in the March 3, 2026 primary, securing nearly 40% of the vote and holding a four-term incumbent to 43.2%. Furthermore, polling from the University of Houston in February 2026 showed Paxton leading Cornyn 51% to 40% in a hypothetical runoff scenario. Candidates with a clear path to victory in a runoff do not drop out, regardless of establishment pressure.
What Could Go Wrong
IF Trump endorses Cornyn and threatens to endorse a primary challenger against Paxton for Attorney General in 2026, THEN Paxton might immediately drop out to protect his current office.
IF a new, devastating legal or personal scandal breaks regarding Paxton (who has a history of legal troubles and a recent $6.6 million whistleblower settlement), THEN he could be forced to suspend his campaign abruptly.
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