Democratic Gov. Tim Walz of Minnesota speaks after dropping his bid for reelection — 1/5/2026

Summary

Minnesota Governor Tim Walz held a press conference to announce he is dropping his bid for reelection in 2026. Walz cited a desire to focus on fighting fraud in state programs and on governing rather than campaigning, while sharply criticizing President Trump, Washington Republicans, and state Republicans over their handling of the fraud scandal. He said he remains confident a Democrat will hold the seat and did not take questions, promising to return the next day with a paid family and medical leave update.

• Tim Walz announced he will not seek a third term as Minnesota governor.
• He cited a state fraud scandal and political attacks as consuming his time.
• Walz accused Trump and Republicans of exploiting the crisis for political gain.
• He defended his administration's antifraud actions and program integrity reforms.
• Walz said he is confident a Democrat will win the seat in November.
• He took no questions and said he would return the next day with a paid leave update.
• The remarks were political in nature, with no market or investment content.