Updated Oct. 4, 2026, 8:47 p.m. ET

With less than a month left until the 2026 midterm elections, Democrats are favored by offshore oddsmakers to take control of both the House and the Senate.

Lee Phelps, a spokesperson for William Hill, told USA TODAY that Democrats are more heavily favored to win the House than they have ever been at this point in a midterm cycle, adding that the “punters are in no doubt” the party will win the chamber.

“The writing has been on the wall for Republicans for some time,” said Phelps, calling action on the Senate “just as remarkable.”

“Democrats opened at 5/2, equating to a 28% chance of winning the chamber, but have been cut into 4/9, giving them an implied probability of around 69%,” Phelps added.

Phelps said that the volume in betting markets, which U.S. bookmakers cannot legally offer, still weighs heavily in favor of Republicans winning the Senate, buoyed by bets made when they were favored to win the upper chamber. He noted that only 32% of Senate bets favored Democrats.

“We took a number of bets on Republicans at odds-on prices between 1/3 and 8/13, so plenty of customers may now be sitting on positions that looked very strong at the time but are being caught out by the market’s dramatic reversal,” Phelps said.

Democrats have shown strength in Senate races in states such as Texas, Iowa and Kansas, that appeared unlikely to be in play before the U.S. war on Iran and the recent spike in diesel prices.

Here’s where the betting odds stand for the 2026 midterms.

2026 midterm betting oddsWilliam HillDemocrats win House and Senate: -250Democrats win House, Republicans win Senate: +175Republicans win House and Senate: +900Republicans win House, Democrats win Senate: +6600BovadaDemocrats win House and Senate: -150Democrats win House, Republicans win Senate: +175Republicans win House and Senate: +600Republicans win House, Democrats win Senate: +1800BetOnlineDemocrats win House and Senate: -210Democrats win House, Republicans win Senate: +185Republicans win House and Senate: +1000Republicans win House, Democrats win Senate: +6500