Federal investigations into large-scale fraud in Minnesota social services programs, including housing and Medicaid initiatives, have produced dozens of indictments against individuals but none against Governor Tim Walz as of late May 2026. Congressional oversight hearings in March examined testimony alleging that Walz and Attorney General Keith Ellison knew of the abuse for years yet failed to intervene, while a separate January DOJ probe examined potential interference with federal immigration enforcement. With Walz’s term concluding in 2027 and no formal charges filed, trader assessments reflect the absence of indictments to date alongside procedural and evidentiary hurdles that could still shift outcomes if new evidence emerges from ongoing cases.