← back to scans
Will Ronaldo Caiado finish 4th in the first round of the 2026 Brazilian presidential election?
15%
Agent
19%
Market Price
-4.0%
Edge
66%
Confidence
13,193
Volume
37.0c
Spread
364
Days to resolution
13
Markets in event
final rationale
Mean of 5 draws (0.08, 0.11, 0.19, 0.19, 0.18). (0) The question is not resolved yet. Counting is underway on election night, 2026-10-04. The latest snapshot, at 84.96% of sections counted, is reported by both Canal Rural and Paraíba Online. It shows Renan Santos 4th with 2,326,033 votes (2.31%) and Caiado 5th with 2,283,182 (2.27%), behind Cury in 3rd at 2.94%. (a) Results should be final within hours to days, well before the 2027 trading close, so time is not a factor. (b) If nothing changes, Caiado finishes 5th, which resolves NO. His lead over Santos shrank steadily through the count: +0.10pp at 10%, +0.06pp at 47%, about +2k votes at 65%, then −43k votes at 85%. That suggests the uncounted sections lean toward Santos rather than Caiado. (c) NO: the remaining ~15% of sections keep the same trend, Santos holds or widens his lead, and Cury stays comfortably 3rd. (d) YES: late batches come mainly from Caiado-friendly interior areas such as Goiás, where he polled first, and he recovers the ~43k gap. Doing that would require him to beat Santos by roughly 0.3pp in the remaining ~15M votes, which runs against the observed trend. Cury falling to 4th looks negligible given his ~600k-vote cushion. The Kalshi live price is 19%, but the spread is wide (6/37) and the last close of 29% likely predates the 85% snapshot. I put the probability below the market at about 8%, keeping some weight on the snapshot being stale or misreported and on regional reporting order.
price vs. prediction
market price
agent forecast at t+0
14 follow-ups
1. Planner Opus 5.5 · picks the research tools
Tools chosen:
kalshi_direct
resolution_source
kalshi_related
polymarket_related
wikipedia
Planner reasoning
Today is election day (Oct 4, 2026), so the Kalshi price and the TSE results page are the key anchors. Related Kalshi and Polymarket markets on placement and the winner give cross-checks on Caiado's rank, and Wikipedia's opinion polling page gives the final poll standings.
2. Research parallel tool calls + 4 web research loops (Sonnet 5) · read raw by the forecasters
at a glance
RESEARCH DIGEST (built in code: tool summaries and each report's bottom line; the forecasters read the full tool outputs and reports)
Tools
- kalshi_direct: ## This Market's Kalshi Data **Ronaldo Caiado** (KXBRPRESIDENT4-BRPRES26-4-RCAI) - Current price (probability): 19.00% (live; bid 6% / ask 37%) - Last daily close (2026-10-04): 29.00% - 7-day price change: -7.00% - 30-day price change: -7.00% - Average daily volume: 203 contracts - Price range: 26.00% - 35.00% - Data points: 8 days
- resolution_source: already_resolved=unclear; matches_criteria=True; last_updated=unknown. The fetched page is the generic TSE (Brazilian Electoral Court) results portal landing page, showing only navigation/deprecated placeholder text with no election data, candidate names, or vote counts.
- kalshi_related: 1 related markets / summaries. series KXBRPRESIDENT4: 0 markets (skipped 13 no-signal) | series KXBRPRESIDENT3: 0 markets (skipped 14 no-signal) | series KXBRPRESIDENT: 0 markets (skipped 0 no-signal) | keyword 'Brazil presidential election': ok | keyword 'Caiado': no matches
- polymarket_related: Polymarket search over 2 keyword(s), kept 10 matches. keyword 'Brazil presidential election': 5 markets | keyword 'Caiado': 5 markets
- wikipedia: Fetched 2 Wikipedia entries (0 missing pages).
Research loops, bottom lines
- current state: As of the evening of election day (2026-10-04), with roughly 65% of sections counted, Ronaldo Caiado sits in 4th place nationally, but by an extremely thin margin (only a few thousand votes) over 5th-place Renan Santos — a gap well within the range that could flip as remaining sections (often rural/slower-reporting areas) are counted; final certified TSE results are needed to confirm whether Caiado holds 4th place.
- base rate: The outside-view base rate for a minor candidate's exact placement (3rd–6th) in Brazilian first-round presidential elections is historically unreliable from polling alone, and current 2026 data show Caiado locked in a volatile, often sub-2-point cluster with Cury and Santos where final polls have repeatedly swapped rank order for 4th place; this implies meaningful but far from decisive uncertainty about whether Caiado specifically lands 4th rather than 3rd, 5th, or lower.
- yes case: The strongest case for YES rests on (1) Caiado's demonstrated lead for 4th place in the earliest and mid-count TSE bulletins (17:58 and ~65%-counted snapshots), and (2) his large, untapped home-state (Goiás) advantage suggested by the Sept. 22 Real Time poll, which could still swing the ~43,000-vote national gap back in his favor as remaining sections are tallied and certified.
- no case: The most recent available count (84.96% of sections, afternoon/evening of 2026-10-04) shows Ronaldo Caiado narrowly behind Renan Santos for 4th place (2.27% vs 2.31%), reversing his earlier lead at lower count percentages; absent late-reporting regions swinging decisively back in his favor, the trend and current data support a NO resolution.
tools
| tool | status | time | items | summary |
|---|---|---|---|---|
| kalshi_direct | OK | 0.2s | 1 | ## This Market's Kalshi Data **Ronaldo Caiado** (KXBRPRESIDENT4-BRPRES26-4-RCAI) - Current price (probability): 19.00% (live; bid 6% / ask 37%) - Last daily close (2026-10-04): 29.00% - 7-day price change: -7.00% - 30-day price change: -7.00% - Average daily volume: 203 contracts - Price range: 26. |
| resolution_source | OK | 3.0s | 1 | already_resolved=unclear; matches_criteria=True; last_updated=unknown. The fetched page is the generic TSE (Brazilian Electoral Court) results portal landing page, showing only navigation/deprecated placeholder text with no election data, candidate names, or vote counts. |
| kalshi_related | OK | 2.4s | 1 | 1 related markets / summaries. series KXBRPRESIDENT4: 0 markets (skipped 13 no-signal) | series KXBRPRESIDENT3: 0 markets (skipped 14 no-signal) | series KXBRPRESIDENT: 0 markets (skipped 0 no-signal) | keyword 'Brazil presidential election': ok | keyword 'Caiado': no matches |
| polymarket_related | OK | 0.7s | 10 | Polymarket search over 2 keyword(s), kept 10 matches. keyword 'Brazil presidential election': 5 markets | keyword 'Caiado': 5 markets |
| wikipedia | OK | 0.5s | 2 | Fetched 2 Wikipedia entries (0 missing pages). |
research loops
·
4/4 ok ·
13 searches ·
8 page reads
| dimension | status | time | searches | page reads | report |
|---|---|---|---|---|---|
| current state | OK | 47s | 4 | 3 | 4475 chars |
| base rate | OK | 36s | 2 | 2 | 4783 chars |
| yes case | OK | 35s | 4 | 1 | 4142 chars |
| no case | OK | 29s | 3 | 2 | 3964 chars |
report: current state
- [2026-10-04] Live first-round election results published by TSE (Brazil's electoral court) as of 19h06 Brasília time, with 64.81% of voting sections counted, show: Flávio Bolsonaro 49.58%, Lula 42.25%, then Augusto Cury (Avante) in 3rd place with 2,247,926 votes (2.97%), followed by
Augusto Cury (Avante) appears in third place, with 2,247,926 votes and 2.97%, while Ronaldo Caiado (PSD) has 1,774,893 votes, and Renan Santos (Missão) sums 1,772,742
. https://www.vgnoticias.com.br/eleicoes-2026/disputa-entre-lula-e-flavio-segue-em-aberto-com-6481-das-secoes-apuradas/153037
- [2026-10-04] This partial count puts Caiado in 4th place, but the gap over 5th-place Renan Santos is extremely narrow —
with more than 75.7 million votes counted, the partial standings list Flávio Bolsonaro (PL) at 49.58% (37,566,895 votes), Lula (PT) at 42.25% (32,007,853), Augusto Cury (Avante) at 2.97% (2,247,926), and Ronaldo Caiado (PSD) at 2.34% (1,774,893)
, only ~2,151 votes ahead of Santos at this snapshot. https://ndmais.com.br/politica/zema-publica-fas-de-politicos-apuracao
- [2026-10-03] The final pre-election poll (PoderData, published the eve of voting) showed Caiado essentially tied for 4th/5th:
Augusto Cury (Avante) had 4% of valid votes, while Renan Santos (Missão) and Ronaldo Caiado (PSD) appeared with 3% each
. https://www.gazetadopovo.com.br/eleicoes/2026/pesquisa-eleitoral-2026/poderdata-presidente-outubro-2026/
- [2026-10-03] A separate final poll (CNT/MDA) had Caiado clearly ahead of Santos:
former Goiás governor Ronaldo Caiado (PSD) had 3.4% of valid votes, followed by activist Renan Santos (Missão), who totaled 1.7%
, with Cury at 3.6% — polls thus disagreed on whether Caiado would be 3rd/4th and by what margin over Santos. https://www.terra.com.br/noticias/brasil/politica/cntmda-em-1-turno-lula-tem-478-dos-votos-validos-flavio-soma-421-e-cury-36,8501f6efcd3a3852cf6846b4caadfea70xdwp1ne.html
- [2026-10-04] Wikipedia's live election page confirms the race is a Lula–Flávio Bolsonaro contest, with Caiado trailing far behind:
Ronaldo Caiado polled 2.34% (Social Democratic party, PSD), with 1,774,893 votes
in the live count snapshot. https://news.google.com/read/CBMiuwFBVV95cUxNT0FBUllHNWVmdEJkd2w5M3YzYVR6ZGFZX09NVTNROTRkUy1MSUpsQ3E3NkZWT1JxWnV0NzMyZVZSZWl1dmhRWlp3REF5M1ZBX1lxR0lpWFZCOHppa3p2ZHpGckw2ZTZZQ1hYT0s0R0JzMERRRTR1MGlUZnRqMkJ1NjJONW8wZXA1OW80bUdYa2JLVW54bWg3YlB1OGM4QmdUZHpMdWE3cGp5Vmg4MDVUWU9CRFg5MUdLTEx3
- [2026-09-25] Background: Caiado, former Governor of Goiás, was officially the PSD presidential nominee with Gilberto Kassab as running mate, having left the governorship to run.
He resigned on 31 March 2026 in order to run for president of Brazil, and Vilela subsequently assumed the governorship.
https://en.wikipedia.org/wiki/2026_Goi%C3%A1s_general_election
- [2026-10-04] Zema (Novo) is far behind in 6th place and out of contention for 4th: at the same 64.81%-counted snapshot he had roughly 0.29% (220,598 votes). https://ndmais.com.br/politica/zema-publica-fas-de-politicos-apuracao
- [2026-10-04] No candidate outside the named field (Lula, Bolsonaro, Cury, Caiado, Santos, Zema, Samara, Hertz Dias, etc.) is challenging for 4th place; the listed minor candidates (PSTU, PCB, Democrata, DC, PRTB) registered negligible support in final polling. https://www.gazetadopovo.com.br/eleicoes/2026/pesquisa-eleitoral-2026/poderdata-presidente-outubro-2026/
- [2026-10-04] The presidential race itself is headed to a runoff: no candidate is near 50% of valid votes in the partial count (Bolsonaro ~49.6%, Lula ~42.3%), consistent with final polling showing a near-tie between Lula and Flávio Bolsonaro and a probable second round on 25 October 2026. https://www.vgnoticias.com.br/eleicoes-2026/disputa-entre-lula-e-flavio-segue-em-aberto-com-6481-das-secoes-apuradas/153037
BOTTOM LINE: As of the evening of election day (2026-10-04), with roughly 65% of sections counted, Ronaldo Caiado sits in 4th place nationally, but by an extremely thin margin (only a few thousand votes) over 5th-place Renan Santos — a gap well within the range that could flip as remaining sections (often rural/slower-reporting areas) are counted; final certified TSE results are needed to confirm whether Caiado holds 4th place.
NOT FOUND: The fully certified (100%-counted) official TSE first-round result breaking down Caiado vs. Santos vs. Cury vote totals; any TSE statement on certification timeline for this specific contest.
report: base rate
- [2026-09-25] National polling throughout September consistently places Caiado in the second tier, behind leaders Lula and Flávio Bolsonaro, but usually behind or tied with Augusto Cury and Renan Santos. A late-September Al Jazeera summary of a poll had
"Lula leads with 40 percent of the vote, followed by Bolsonaro (36 percent), Augusto Cury (5 percent), Ronaldo Caiado (4 percent) and Renan Santos (3 percent)"
— i.e., Caiado polling 4th in that specific survey (https://www.aljazeera.com/news/2026/9/25/brazils-lula-and-flavio-bolsonaro-still-essentially-tied-in-new-poll).
- [2026-09-25] Wikipedia's poll aggregation for 22–24 Sep shows Datafolha with Caiado at 4% versus Cury at 5% and Santos at 3%, again putting Caiado 4th in that particular house, but other late-Sept houses (Futura, PoderData, Real Time, Nexus, Quaest) show Cury ahead and Santos/Caiado swapping for 4th/5th depending on the poll (https://en.wikipedia.org/wiki/Opinion_polling_for_the_2026_Brazilian_presidential_election).
- [2026-10-03] A consolidated tracker of the final pre-election wave (to Oct 3) shows the minor-candidate cluster is tight and order-unstable: across houses Caiado ranges roughly 1%–5%, frequently behind both Cury (3%–8%) and Santos (3%–11%), and sometimes behind Zema as well, with no consistent 4th-place finisher among non-leaders (https://www.riotimesonline.com/brazil-election-poll-tracker-2026/).
- [2026-09-01 to 2026-09-29] Across the full campaign (March–September 2026), Caiado has rarely led the "other candidates" tier outright; Cury has more often polled highest among this group since his April nomination, while Caiado and Santos have traded 2nd/3rd place in the minor tier, implying historically volatile ordering for 3rd–5th place (https://en.wikipedia.org/wiki/Opinion_polling_for_the_2026_Brazilian_presidential_election).
- [2026-09-25] Independent outlet AS/COA notes
"alongside the two poll leaders, four candidates qualified for debate participation: Augusto Cury, Renan Santos, Ronaldo Caiado, and Romeu Zema"
— confirming Caiado's position firmly in a four-way scrum for 3rd–6th rather than a clear 4th place (https://www.as-coa.org/articles/brazils-2026-presidential-candidates-lula-bolsonaro-and-other-top-contenders).
- [2026-09-25] AS/COA further notes
"The remaining candidates poll at or below single digits, but in a race this tight, their positions and whom they endorse could be decisive in a runoff"
, underscoring that differences among candidates 3–6 are within or near the margin of error (typically ±2pp), making a specific "4th place" prediction statistically fragile (https://www.as-coa.org/articles/brazils-2026-presidential-candidates-lula-bolsonaro-and-other-top-contenders).
- [Base rate / historical reference class]: In the two prior Brazilian presidential first rounds (2018, 2022), third-place-and-below candidates' final relative order was usually consistent with late polling only when gaps exceeded ~2–3 points; polling has reliably separated the top two (Lula/Bolsonaro-aligned) candidates but has shown repeated rank-order flips among minor (sub-10%) candidates between final polls and certified results, since small undecided/blank-vote reallocation and late momentum shifts matter more at low vote shares.
- [Methodological caveat]: Brazilian pollsters (Datafolha, Quaest, AtlasIntel, PoderData, Nexus, Futura, etc.) have generally performed well at identifying the top-two finishers and runoff participants in 2018/2022, but have a weaker track record on exact ordering beyond 2nd place — precisely the zone (3rd–6th) where Caiado sits in 2026.
- [2026-09-29] The riotimesonline tracker characterizes the race headline as a near dead-heat between Lula and Bolsonaro, while treating the "others" (Cury, Santos, Caiado, Zema) as a secondary cluster whose internal order it reports inconsistently from poll to poll, reflecting genuine uncertainty rather than a stable 4th-place frontrunner (https://www.riotimesonline.com/brazil-election-poll-tracker-2026/).
BOTTOM LINE: The outside-view base rate for a minor candidate's exact placement (3rd–6th) in Brazilian first-round presidential elections is historically unreliable from polling alone, and current 2026 data show Caiado locked in a volatile, often sub-2-point cluster with Cury and Santos where final polls have repeatedly swapped rank order for 4th place; this implies meaningful but far from decisive uncertainty about whether Caiado specifically lands 4th rather than 3rd, 5th, or lower.
NOT FOUND: No certified or official first-round results were available as of the fetch time (election day itself, 2026-10-04, with counting presumably still underway); no formal post-election exit-poll or quick-count data confirming final placement of Caiado was located.
report: yes case
YES means: Ronaldo Caiado (PSD) is certified by the TSE as the fourth-highest vote-getter in the October 4, 2026 first-round presidential election, ahead of Renan Santos, Augusto Cury's rank notwithstanding (Cury is clearly 3rd), and ahead of Zema/others.
- [2026-10-04] At the very start of counting (first TSE bulletins released ~17:58 Brasília time), Caiado was reported in outright 4th place nationally:
"Ronaldo Caiado (PSD), governador de Goiás, apareceu na quarta colocação com 2,39% dos votos válidos"
, immediately ahead of Renan Santos, who
"figurou em quinto lugar ao registrar 2,31% dos votos válidos"
. https://www.mixvale.com.br/2026/10/04/flavio-bolsonaro-abre-apuracao-com-5079-dos-votos-validos-contra-4095-de-lula-no-tse/
- [2026-10-04] A later snapshot at 64.81% counted (reported by colleagues) still had Caiado narrowly ahead of Santos for 4th, by roughly 2,151 votes — confirming the 4th-place order held through the middle stretch of counting, not just the opening minutes.
- [2026-10-04] The final pre-election PoderData/Aya survey, taken as voters went to the polls, had Caiado and Santos dead-even at 3% each, with margin of error 1.5pp, meaning pollster-based expectations gave real odds to either order resolving for 4th:
"O número o coloca empatado com Ronaldo Caiado (PSD), também com 3%, e a um ponto de Augusto Cury (Avante), que tem 4%"
, and that gap was
"dentro da margem de erro do levantamento, de 1,5 ponto percentual"
. https://acritica.net/nacional/renan-santos-vota-sao-paulo-3-por-cento-votos-validos-poderdata/
- [2026-09-22] A late-September Real Time Big Data poll specifically on Goiás — Caiado's home state and largest single source of potential personal-vote upside — showed him leading the presidential race there, tied with Flávio Bolsonaro and ahead of Lula:
"Ronaldo Caiado (PSD) aparece na primeira posição da corrida presidencial entre os eleitores de seu estado, empatado com Flávio Bolsonaro (PL) e à frente de Lula (PT)"
, with
Caiado's May approval rating among Goiás voters cited as 84%
, underlining a deep regional reservoir of votes that could still be banked as slower-reporting sections (often rural, Caiado-friendly interior municipalities) finish counting.
- [2026-10-03] A separate final poll, CNT/MDA, had Caiado clearly ahead of Santos nationally by a 2-point margin (3.4% vs 1.7%), a scenario fully consistent with — and supportive of — a final certified 4th-place finish for Caiado if that poll's methodology proves closer to the true outcome than PoderData's tied reading.
- [2026-10-04] Even in the most recent fetched snapshot (84.96% of sections counted, Canal Rural), the Caiado–Santos gap for 4th/5th remained a razor-thin 42,851 votes (2,326,033 for Santos vs. 2,283,182 for Caiado) out of roughly 100 million ballots — a margin on the order of 0.04 percentage points, well within the range that late-reporting batches, recounts, or late overseas/rural tallies could flip in either direction before final certification. https://www.canalrural.com.br/politica/eleicoes/eleicoes-presidente-da-republica-votacao-apuracao/
- [2026-10-04] No candidate outside the named field is threatening 4th place, and 3rd place (Cury) is effectively settled with a larger buffer (~2.94%–2.97% in multiple snapshots), meaning the entire YES case reduces to a two-horse tiebreak between Caiado and Santos for the single remaining contested slot, not a multi-candidate scramble.
BOTTOM LINE: The strongest case for YES rests on (1) Caiado's demonstrated lead for 4th place in the earliest and mid-count TSE bulletins (17:58 and ~65%-counted snapshots), and (2) his large, untapped home-state (Goiás) advantage suggested by the Sept. 22 Real Time poll, which could still swing the ~43,000-vote national gap back in his favor as remaining sections are tallied and certified.
NOT FOUND: A Goiás-specific breakdown of Caiado's actual (not polled) first-round vote share as of the 84.96%-counted mark; any TSE statement on what share of the still-uncounted ~15% of sections are concentrated in Goiás or other Caiado-strong states; the fully certified (100%) national result.
report: no case
YES means: Ronaldo Caiado finishes in 4th place (behind Lula, Flávio Bolsonaro, and one other candidate) in the certified first-round results of the 2026 Brazilian presidential election.
- [2026-10-04, 17:26 BRT, updated 20:08] At 84.96% of sections counted — a materially more complete count than the 64.81% snapshot cited in prior research — Renan Santos (Missão) registered 2.31% versus Ronaldo Caiado (PSD) at 2.27%, meaning Santos had overtaken Caiado for 4th place nationally at this later stage. https://paraibaonline.com.br/eleicoes/2026/10/04/tse-inicia-apuracao-dos-votos-para-presidente-veja-a-ultima-parcial
- [2026-10-04] A separate tracker citing the same approximate snapshot corroborates this ordering, showing Augusto Cury in 3rd with 2,958,595 votes (2.94%), Renan Santos in 4th with 2,326,033 votes (2.31%), and Ronaldo Caiado in 5th with 2,283,182 votes (2.27%). https://www.canalrural.com.br/politica/eleicoes/eleicoes-presidente-da-republica-votacao-apuracao/
- [2026-10-04] An earlier snapshot at 47.26% counted had already shown the gap narrowing to near-parity, with Caiado at 2.38% and Santos at 2.32% — a lead of only 0.06pp — indicating the trend across the count was consistently eroding Caiado's edge over Santos as more sections reported. https://suno.com.br/noticias/eleicoes-2026-votacao-brasil-exterior-apuracao-go
- [2026-10-04] At an even earlier stage (10% counted), Caiado led Santos by a wider 0.10pp margin (2.40% vs 2.30%), reinforcing that the trajectory through the count has been one of steady convergence and eventual overtaking by Santos, not stability in Caiado's favor. https://suno.com.br/noticias/eleicoes-2026-votacao-brasil-exterior-apuracao-go
- [2026-10-04] Overseas/diaspora vote tallies (reported separately by TSE from ~17h) show a mixed picture by country but generally confirm Caiado polling only in the low single digits abroad (e.g., 1.19%–7.02% in small samples), too small in absolute votes to materially shift the tight domestic gap with Santos. https://www.poder360.com.br/poder-eleicoes-2026/eleicoes-2026-exterior-resultados/
- [2026-10-03, pre-election] The PoderData final poll had already flagged this exact scenario as plausible, showing Caiado and Santos tied at 3% each — a dead heat baked into final pre-election expectations rather than a late-breaking surprise.
- [Mechanism] Brazil's vote count in large, slow-reporting rural/interior states (including Caiado's home state of Goiás, which he governed until his March 2026 resignation per prior research) typically reports later in the count; if Goiás or similar PSD strongholds were already substantially counted by the 65%–85% mark, there is no obvious large reservoir of uncounted Caiado-favorable sections left to reverse the trend.
- [Resolution-criteria technicality] Under the stated rules, if the final certified count confirms Santos (or any candidate other than Caiado) in 4th, the market resolves NO regardless of how narrow the margin is; there is no rounding or "statistical tie" relief unless the margin is an exact tie, which an active few-thousand-vote gap is not.
- [Status-quo inertia] Since early-to-mid count snapshots (10%, 47%, 65%) all showed Caiado's lead over Santos shrinking monotonically and the 85%-counted snapshot shows him now behind, the "nothing changes" default from this point forward is that Caiado finishes 5th, not 4th — the NO outcome.
BOTTOM LINE: The most recent available count (84.96% of sections, afternoon/evening of 2026-10-04) shows Ronaldo Caiado narrowly behind Renan Santos for 4th place (2.27% vs 2.31%), reversing his earlier lead at lower count percentages; absent late-reporting regions swinging decisively back in his favor, the trend and current data support a NO resolution.
NOT FOUND: The fully certified 100%-counted TSE result; any TSE statement on which states/regions remained uncounted after 84.96%; confirmation of final certified order between Caiado, Santos, and Cury.
3. Forecasters 5 draws · Opus 5.5 + GPT-6 Astra + GPT-5.6 Sol · plain mean
claude-opus-5-5 · high effort
72% conf
| Yes | 8% |
| No | 92% |
(0) The question is not resolved yet. Counting is underway on election night, 2026-10-04. The latest snapshot, at 84.96% of sections counted, is reported by both Canal Rural and Paraíba Online. It shows Renan Santos 4th with 2,326,033 votes (2.31%) and Caiado 5th with 2,283,182 (2.27%), behind Cury in 3rd at 2.94%. (a) Results should be final within hours to days, well before the 2027 trading close, so time is not a factor. (b) If nothing changes, Caiado finishes 5th, which resolves NO. His lead over Santos shrank steadily through the count: +0.10pp at 10%, +0.06pp at 47%, about +2k votes at 65%, then −43k votes at 85%. That suggests the uncounted sections lean toward Santos rather than Caiado. (c) NO: the remaining ~15% of sections keep the same trend, Santos holds or widens his lead, and Cury stays comfortably 3rd. (d) YES: late batches come mainly from Caiado-friendly interior areas such as Goiás, where he polled first, and he recovers the ~43k gap. Doing that would require him to beat Santos by roughly 0.3pp in the remaining ~15M votes, which runs against the observed trend. Cury falling to 4th looks negligible given his ~600k-vote cushion. The Kalshi live price is 19%, but the spread is wide (6/37) and the last close of 29% likely predates the 85% snapshot. I put the probability below the market at about 8%, keeping some weight on the snapshot being stale or misreported and on regional reporting order.
claude-opus-5-5 · high effort
70% conf
| Yes | 11% |
| No | 89% |
(0) Not certified yet, but the TSE count at 84.96% (Canal Rural, Paraíba Online) shows Santos 4th (2,326,033, 2.31%) and Caiado 5th (2,283,182, 2.27%); Cury is safely 3rd at about 2.94%. (a) Certification is days to weeks away and close is 2027-10-04, so only the last ~15% of sections matters. (b) Caiado's edge over Santos eroded steadily (+0.10pp at 10%, +0.06pp at 47%, about +2k votes at 65%, about -43k at 85%); continuing that trend means 5th, i.e. NO. (c) NO: the remaining sections keep favouring Santos or split evenly. (d) YES: late batches from Caiado strongholds such as interior Goiás swing about 0.3pp to him, but no evidence of such a reservoir was found and the trend argues against it. The Kalshi midpoint is 19% (wide 6/37 spread, last close 29%); the count data outweighs it, so YES is about 11%, with some weight kept on reporting errors.
gpt-6-astra · high effort
62% conf
| Yes | 19% |
| No | 81% |
No supplied source documents resolution: the official TSE portal fetch returned only an application shell, while the reported results are partial, not certified. The election is today, October 4, 2026, making the remaining count the immediate uncertainty, although the contractual deadline is October 4, 2027 at 14:00 UTC, approximately one year away. The latest snapshot, corroborated by Canal Rural and Paraiba Online at 84.96% of sections counted, places Caiado fifth with 2,283,182 votes, behind fourth-place Renan Santos by 42,851 votes. Thus the unchanged-order outcome is NO, and a straightforward NO scenario is that Santos retains his lead as counting continues, consistent with Caiado's advantage eroding and reversing across earlier snapshots. YES requires the remaining ballots to reverse that deficit while leaving Caiado behind Cury; sufficiently favorable outstanding Goiás or other regional votes could accomplish this, but their distribution is unknown. Final polling supplies some support for that possibility—PoderData had Caiado and Santos tied, while CNT/MDA favored Caiado—but cannot establish which candidate benefits from the uncounted sections. I retain Kalshi's 19% YES anchor, noting its very wide 6%–37% bid–ask spread and low volume, because the research supports a NO-leaning forecast without establishing a clear market mispricing. The retained YES probability reflects both unknown reporting geography and possible errors or revisions in secondary accounts, since the official-source read does not independently verify the reported standings.
gpt-6-astra · high effort
58% conf
| Yes | 19% |
| No | 81% |
I retain Kalshi's 19% YES anchor: its wide 6% bid/37% ask spread signals a noisy price, but the research establishes no clear unpriced edge. Resolution is not documented because the official TSE portal fetch contains no results, and the available reports show partial rather than certified totals. The election is today, October 4, 2026, with counting underway; the specified expiration is October 4, 2027 at 14:00 UTC, approximately one year away, allowing time for certification. The latest October 4 reports from Paraíba Online and Canal Rural, at 84.96% of sections counted, place Santos fourth with 2,326,033 votes and Caiado fifth with 2,283,182, superseding Caiado's earlier 2,151-vote lead at 64.81%. If that ordering remains unchanged and is certified, the status-quo outcome is NO. A concrete NO scenario is that remaining sections preserve Santos's 42,851-vote advantage, consistent with Caiado's progressively eroding lead across earlier snapshots. A YES scenario requires late-reporting Caiado strongholds, potentially Goiás, to reverse that deficit while leaving him behind Cury, followed by certified fourth-place results. Mixed final polling, the absence of a geographic breakdown of uncounted sections, and the lack of directly retrieved official totals justify retaining meaningful reversal and reporting-error risk within the 19% YES probability rather than treating the current ordering as final.
gpt-5.6-sol · high effort
68% conf
| Yes | 18% |
| No | 82% |
(0) The condition is not yet resolved: the official TSE results portal supplied as the resolution source shows no certified totals, while two October 4 reports citing an 84.96%-counted snapshot place Renan Santos fourth with 2,326,033 votes and Caiado fifth with 2,283,182. (a) Although the market formally closes October 4, 2027, voting occurred today and only completion and certification of the first-round count remain, likely making the outcome known shortly. (b) If the current ordering persists, Caiado finishes fifth and the market resolves No. (c) The No scenario is that the remaining sections resemble recent batches: Santos retains or expands his 42,851-vote lead, continuing the trend from Caiado leading by 0.10 percentage points at 10% counted to trailing by 0.04 points near 85%. (d) The Yes scenario is that the remaining roughly 15% of sections disproportionately come from Caiado-friendly areas such as Goiás, allowing him to erase the narrow deficit and reclaim fourth before certification. Kalshi's live Yes price is 19% with a very wide 6%-37% spread; I price Yes slightly lower at 18% because the latest and most complete count favors Santos, while retaining substantial uncertainty because the geographic composition of uncounted sections is unknown and no certified TSE result is available.
4. Final plain mean of 5 draws
15%
(66% confidence)
Yes: 15%
No: 85%
Mean of 5 draws (0.08, 0.11, 0.19, 0.19, 0.18). (0) The question is not resolved yet. Counting is underway on election night, 2026-10-04. The latest snapshot, at 84.96% of sections counted, is reported by both Canal Rural and Paraíba Online. It shows Renan Santos 4th with 2,326,033 votes (2.31%) and Caiado 5th with 2,283,182 (2.27%), behind Cury in 3rd at 2.94%. (a) Results should be final within hours to days, well before the 2027 trading close, so time is not a factor. (b) If nothing changes, Caiado finishes 5th, which resolves NO. His lead over Santos shrank steadily through the count: +0.10pp at 10%, +0.06pp at 47%, about +2k votes at 65%, then −43k votes at 85%. That suggests the uncounted sections lean toward Santos rather than Caiado. (c) NO: the remaining ~15% of sections keep the same trend, Santos holds or widens his lead, and Cury stays comfortably 3rd. (d) YES: late batches come mainly from Caiado-friendly interior areas such as Goiás, where he polled first, and he recovers the ~43k gap. Doing that would require him to beat Santos by roughly 0.3pp in the remaining ~15M votes, which runs against the observed trend. Cury falling to 4th looks negligible given his ~600k-vote cushion. The Kalshi live price is 19%, but the spread is wide (6/37) and the last close of 29% likely predates the 85% snapshot. I put the probability below the market at about 8%, keeping some weight on the snapshot being stale or misreported and on regional reporting order.
Pipeline Timing
Total pipeline time: 111.5s
Per-tool research timings shown in the Research section above.