Eric Swalwell resigns from Congress amid financial misconduct allegations

Eric Swalwell’s resignation from Congress is confirmed amid financial misconduct allegations, and the market for Swalwell out by May 31 sits at 100% YES.

## Market reaction

FEC filings show Swalwell spent $75K from his defunct congressional campaign on booze, hotels, and babysitting. These revelations fueled existing investigations into his campaign finances. Swalwell resigned and suspended his gubernatorial campaign the same week sexual assault allegations surfaced.

With 45 days until May 31, the Eric Swalwell out as US Rep by May 31 market is trading at 100%. The resignation, combined with the DOJ’s ongoing probe, has removed any doubt about the outcome.

## Why it matters

There has been no trading activity in the last 24 hours and no face value traded recently. At 100% YES, the market is resolved in all but name. There is no opportunity for traders here. The combination of the $75K spending scandal, sexual assault allegations, and a DOJ investigation made Swalwell’s position untenable within days.

## What to watch

Watch for official confirmations from the U.S. House or California’s Governor on the procedural aftermath. A special election announcement by Governor Newsom could follow, but the market’s resolution is clear.

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