Axios

Latino voters helped Democrats break Republicans' decades-long grip on Texas and reclaim both chambers of Congress on Tuesday, casting doubt on President Trump's historic 2024 gains with the fast-growing electorate.

Why it matters: Republicans bet Trump's Latino breakthrough two years ago would create a lasting GOP realignment in Texas and beyond. Tuesday's results exposed how quickly those gains could unravel — and raised new questions about Republicans' coalition heading into 2028.

Elon Musk cracked jokes early Wednesday morning after the Republican candidates he spent record sums supporting got drubbed in historic midterm elections.

Why it matters: No one has ever spent as much as Musk for so little payoff — especially in Texas, which ended up with a massive blue wave.

Senate Republicans' worst nightmare came true Tuesday night, as they watched red state after red state fall to a historic Democratic wave.

Why it matters: It's hard to remember now, but Republicans started off the 2026 cycle thinking they could expand their majority. They ended the night with what one source called a "huge f**king thumping" — losing or trailing in every toss-up on the map.