Midterm update: DDHQ projects Dems win House and Senate

Democrats are seeing a very strong midterm, flipping key Senate races (Ohio, Texas, South Carolina, Iowa, Main, Kansas) and eyeing a potential Senate majority of 54 seats or more, meeting the high end of Democratic projections going into the elections. The Kansas and Texas wins are the most historic, with Democrats last winning a Senate race in Kansas in 1932 and in Texas in 1988. An RCP analyst described the Republicans' performance as "easily the worst election for a party since 1974." DDHQ live seat count: House D 207-R 112, Senate D 51-R 40. Just over five hours after the first polls closed, DDHQ gave Democrats a 99% chance of winning the House and a 100% chance of winning the Senate. Democrats have also performed well in the gubernatorial races, winning Texas, Ohio and Georgia, all flips. US President Trump said he is prepared to work with Democrats and will accept the election result, according to the NYT. In a Truth Social post, he added that he would have won in a landslide if he were on the ballot. For PUCs, Democrats have won the District 3 and 5 seats in Georgia, taking control of the PSC (3-2), and would be expected to push to revisit Georgia Power's grid expansion and the terms offered to data centres. Negative for Southern Co's (SO) spending plans and Georgia data-centre names; positive for household bills. GA PSC District 5: Edwards (D) – data centres "must pay the full cost of the infrastructure needed to serve them". Meanwhile, GA PSC District 3: Hubbard (D) is pushing to revisit the grid expansion. Democrats won the Arizona Corporation Commission races, while Republicans won both seats on the Louisiana PSC, maintaining a majority. US equities have fallen as betting markets grew increasingly confident of a Democratic sweep, which threatens the prospect of AI deregulation and raises the risk of slower growth and higher costs. The downside risks to AI growth have resulted in lower US yields and a weaker USD. Previous AI policy comments from Democratic governors who won in the midterms: TX Governor: Hinojosa (D) – full moratorium by emergency EO plus a special session; says Abbott's pause "goes away on November 4th" OH Governor: Acton (D) – conditional moratorium: data centres pay 100% of utility costs, brownfields only, union labour, no local NDAs PA Governor: Shapiro (D) – EO requires consent orders covering electricity costs and local approval; bars fast-track permitting GA Governor: Bottoms (D) – immediate statewide freeze on new construction WI Governor: Crowley (D) – 100% new clean generation, no cost shift, local approve/reject authority