Preliminary estimates from the University of Florida Election Lab place total ballots cast in the November 3, 2026, midterm elections at approximately 122.7 million to 124.3 million, aligning with the leading 120-125 million outcome. Record early voting exceeded 60 million ballots before Election Day, surpassing 2022 levels and contributing to the second-highest midterm turnout rate since 1914. Competitive Senate and House races in states such as Michigan, Minnesota, and Maine drove higher participation, while ongoing mail ballot counting in California and Washington continues to refine national totals. Trader consensus in this range reflects these verified preliminary figures and historical comparisons to prior midterms.