The measure, Initiative 109, has qualified for Colorado’s November 3, 2026 ballot after Protect Kids Colorado gathered over 168,000 signatures. It would classify K-12 and collegiate athletic teams by biological sex, defined via reproductive systems, thereby limiting participation aligned with gender identity. In a state that leans Democratic, organized opposition through campaigns such as Hands Off Colorado has focused on mobilizing LGBTQ+ voters and allies against the initiative. Comparable measures are also slated for Arizona and Washington, highlighting a broader pattern of direct democracy on eligibility rules. With roughly three months until the election and no dominant polling edge reported, traders assign the “No” outcome a modest lead, consistent with historical challenges for such ballot questions in blue states.