**Tim Walz, Minnesota’s Democratic governor whose current term ends January 4, 2027, has repeatedly stated he will not resign and intends to serve out his full term amid ongoing scrutiny over large-scale welfare and Medicaid fraud cases that occurred on his watch.** He dropped his bid for a third term in January 2026, citing the need to focus on governing rather than campaigning, but explicitly rejected calls from Republicans to step down early, declaring he would not resign “over my dead body.” Recent September 2026 comments framed his departure as a normal end-of-term transition while accepting some responsibility for oversight failures, without signaling any intent to leave sooner. Trader consensus on low probabilities for resignation by late 2026 or early 2027 reflects Walz’s consistent public position, continued executive activity through October 2026, and the absence of new developments that would typically force an early exit. The November 2026 gubernatorial election and scheduled term conclusion remain the primary scheduled transitions.