Democrats make broad gains in the 2026 US midterm elections

The United States held its midterm elections on 3 November 2026, voting for all 435 seats in the House of Representatives and a share of the Senate. Midterms take place halfway through a presidential term and often act as a verdict on the sitting president and his party.

Democrats made broad gains, winning widely in the contests for Congress. Before the vote, Republicans held a narrow majority in the House and a larger one in the Senate, and pre-election forecasts had favoured Democrats in the House in particular.

The result mattered beyond Washington. Investors had been weighing the risk of a contested or unpredictable outcome, and a clear result removed a major source of uncertainty. Global equity markets rose in response. A divided or more balanced Congress can also limit how easily a president passes new spending, tax and trade measures, which is why traders watch midterms closely.

The shift in sentiment spread to other assets, including the dollar and gold, which moved as markets adjusted to the new political picture in the days after the vote.