Marco Rubio, presently a Senator from Florida, was selected by Trump to become his Secretary of State (if that falls through and Rubio keeps his seat this resolves N/A). Governor Ron Desantis will then have the power to appoint a replacement to serve for 2 years, followed by a special election to fill the seat.
Desantis himself is term limited as governor and his term ends in 2026. Previous governor Rick Scott ran for Senate after hitting his own term limit and very possibly Desantis would like to do the same with this now vacated seat (there are only two senators per state and Rick Scott is still serving so that seat is not available)
The initial options for this market were taken from this news article here, which is well worth reading: See https://www.cbsnews.com/amp/miami/news/ron-desantis-decides-rubio-senate-replacement-presidential-cabinet/
Possible clarification from creator (AI generated): If DeSantis resigns as governor before making the Senate appointment and Lt Gov Nunez makes the appointment instead, the market will continue normally and resolve based on who is appointed (rather than resolving N/A).
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Contingency question: If Desantis resigns the governorship to take a position in the Trump administration before the selection is made, so that it is present Lt Gov Nunez that appoints the Senator, is everyone in agreement that the market should continue normally anyway despite having Desantis’ name in the title?
The alternative would be to N/A the market in that case, but I doubt that’s necessary, unless traders overwhelmingly prefer that and tell me so now
@YaakovSaxon happens to be my guess is that they would anyway first have Rubio resign and have Desantis appoint his successor and only then have Desantis resign, but I’m asking in case it’s the opposite order
@Riley12 Why not? He did briefly run in 2016 before Rubio decided to run for re-election. And what else would he do now?
@Riley12 Fair. But not a contradiction, is it? And I would think better to have a senate seat either way - probably gives him more credibility/visibility for a run, and also a good backup plan if he loses.