Mark Sanford enters South Carolina Senate race, shaking up GOP primary

Mark Sanford has announced his candidacy for the U.S. Senate seat in South Carolina, joining the Republican primary race to fill the vacancy left by the late Sen. Lindsey Graham. Sanford, a former governor and congressman, is entering an already crowded field, including notable Republican figures such as Darline Graham, the current appointee and sister of the late senator, and Reps. Russell Fry and Ralph Norman. Sanford’s entry introduces a high-profile contender, potentially altering the dynamics of the primary scheduled for August 11, with a runoff possible if no candidate secures a majority. Market activity suggests that Sanford’s candidacy may impact the chances of other candidates, particularly Ralph Norman. Recent pricing indicates a decrease in confidence regarding Norman’s potential nomination, with the YES probability for Norman dropping from 30% a week ago to 20.5% currently. This shift appears consistent with the introduction of Sanford, whose political experience could attract significant support despite past controversies. The Republican primary winner will eventually face Democratic nominee Annie Andrews in the general election. Markets are closely monitoring endorsem...