Hovde concedes 12 days after Wisconsin Senate race call

Republican businessman Eric Hovde has finally accepted defeat in the closely contested race for a U.S. Senate seat in Wisconsin. Hovde, a wealthy bank owner and real estate developer, conceded to Democratic incumbent Tammy Baldwin after a 12-day delay since the race was called in her favor.

In a video posted on social media, Hovde acknowledged his loss and chose not to pursue a recount, despite the narrow margin of less than 1 percentage point with around 29,000 votes separating him from Baldwin. He cited his desire to avoid further political discord by engaging in a contentious recount process.

Hovde raised concerns about absentee ballots in Milwaukee and the timing of their reporting, alleging irregularities that he claimed affected the outcome of the election. However, these claims were refuted by officials from both political parties and nonpartisan election experts.

The Republican candidate also pointed fingers at a third-party candidate, Thomas Leager, who ran on the America First Party ticket with support from Democratic donors. Leager finished far behind in fourth place, receiving fewer votes than the difference between Baldwin and Hovde. Hovde insinuated that Democratic operatives were involved in recruiting Leager to siphon off votes from his campaign.

Despite his defeat, Hovde hinted at the possibility of running for office again in the future, as some Republicans have touted him as a potential candidate for governor in 2026. Having invested millions of his own funds into the unsuccessful Senate race, Hovde remains a prominent figure in Wisconsin politics with potential for future campaigns.

The Associated Press contributed to this report.

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