IBOV 172,448 ▼ 1.04% IPSA 10,821 ▲ 1.07% IPC MEX 67,466 ▲ 0.61% MERVAL 3,266,960 ▲ 2.19% COLCAP 2,295.85 ▲ 0.01% BVL PERÚ 55,976.67 ▲ 0.32% USD/BRL5.13▼ 0.78% USD/MXN17.37▼ 0.63% USD/CLP927.39▲ 0.68% USD/COP3,342▲ 0.29% USD/PEN3.41▲ 0.11% USD/ARS1,485▼ 0.22% USD/UYU40.23▲ 0.04% USD/PYG6,041▼ 0.18% USD/BOB6.85▼ 0.15% USD/DOP58.75▼ 0.03% USD/CRC450.38▼ 0.13% USD/GTQ7.62▲ 0.05% USD/HNL26.71▲ 0.01% USD/NIO 36.62 — 0.00% USD/VES665.38▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.29▲ 0.02% USD/TTD6.73▲ 1.05% EUR/BRL5.89▼ 1.16% BRENT 71.99 ▲ 0.26% WTI 68.60 ▼ 0.13% IRON ORE 161.91 — — COPPER 6.25 ▲ 2.23% GOLD 4,176 ▲ 1.55% SILVER 62.49 ▲ 3.04% SOY 1,191 ▲ 5.21% CORN 458.25 ▲ 7.82% WHEAT 613.75 ▲ 3.94% COFFEE 347.30 ▲ 10.03% SUGAR 15.16 ▲ 2.09% ORANGE JUICE 166.00 ▼ 4.60% COTTON 78.28 ▲ 7.87% COCOA 5,723 ▲ 15.64% BEEF 239.38 ▲ 0.06% CATTLE 360.83 ▲ 0.06% LITHIUM 76.17 ▼ 0.47% PETR4 37.77 ▼ 1.25% VALE3 77.79 ▼ 1.33% ITUB4 42.56 ▼ 0.42% BBDC4 17.92 ▲ 0.04% ABEV3 15.88 ▼ 2.52% BBAS3 19.77 ▼ 1.05% B3SA3 14.58 ▼ 1.22% WEGE3 46.26 ▼ 0.47% PRIO3 53.57 ▲ 1.15% SUZB3 40.72 ▼ 0.20% RENT3 40.32 ▼ 2.73% AZZA3 17.45 ▲ 1.81% CSAN3 3.84 ▲ 1.59% RAIZ4 0.38 ▼ 2.56% PCAR3 2.75 ▲ 4.56% GMAT3 3.66 ▼ 2.40% PSSA3 53.40 ▼ 1.46% CVCB3 1.25 ▼ 4.58% POSI3 3.74 ▼ 4.59% SLCE3 12.80 ▼ 0.08% NATU3 8.31 ▼ 0.84% BRKM5 6.00 ▼ 3.85% RANI3 7.94 ▲ 0.25% CSNA3 4.76 ▼ 1.24% CMIN3 4.33 ▲ 0.46% USIM5 8.71 ▼ 0.68% GGBR4 21.84 ▲ 1.87% ENEV3 26.10 ▼ 1.99% NEOE3 33.80 — 0.00% CPFE3 44.88 ▼ 1.77% CMIG4 10.88 ▼ 1.36% EQTL3 39.06 ▼ 0.96% LREN3 14.09 ▼ 4.80% VIVT3 34.50 ▼ 0.72% RAIL3 13.50 ▼ 0.95% KLABIN 17.00 ▼ 0.58% RAIA DROGASIL 17.44 ▲ 2.17% RDOR3 35.00 ▼ 2.10% HAPV3 10.38 ▼ 2.35% FLRY3 15.65 ▼ 0.45% SMTO3 14.96 ▼ 2.24% UGPA3 27.94 ▲ 1.49% VBBR3 30.12 ▼ 0.86% BBSE3 38.71 ▲ 0.16% BPAC11 55.38 ▼ 0.82% CURY3 33.80 ▼ 3.24% AERI3 2.00 ▼ 0.99% VIVARA 22.53 ▼ 1.05% COMPASS 24.92 ▲ 0.61% VAMOS 2.87 — 0.00% SANB11 26.71 ▼ 0.89% ASAI3 8.67 ▼ 1.37% SBSP3 29.71 ▼ 2.17% WALMEX 49.06 ▼ 2.10% GMEXICO 202.40 ▲ 1.45% FEMSA 226.30 ▲ 0.77% CEMEX 21.41 ▼ 0.09% GFNORTE 188.33 ▲ 0.68% BIMBO 57.15 ▲ 1.55% TELEVISA 9.58 ▲ 1.59% AMX 23.04 ▲ 2.22% GAP 442.76 ▲ 1.23% ASUR 308.89 ▼ 0.62% OMA 245.91 ▲ 0.32% KOF 187.63 ▲ 0.62% GRUMA 283.23 ▲ 0.94% KIMBER 39.27 ▲ 1.68% SQM-B 68,260 ▲ 1.90% COPEC 5,880 ▲ 1.19% BSANTANDER 76.94 ▲ 2.52% FALABELLA 5,781 ▼ 1.01% ENELAM 82.89 ▲ 0.55% CENCOSUD 2,095 ▲ 0.24% CMPC 1,047 ▲ 0.57% BANCO CHILE 182.50 ▲ 0.01% LATAM AIR 26.30 ▲ 1.39% YPF 72,550 ▲ 1.36% GGAL 8,320 ▲ 4.39% PAMPA 5,160 ▲ 0.49% TXAR 689.00 ▲ 3.77% ALUAR 996.50 ▲ 0.35% TGS 9,365 ▲ 1.85% CEPU 2,343 ▲ 0.86% MIRGOR 17,375 ▲ 0.43% COME 44.00 ▲ 4.07% LOMA NEGRA 3,688 ▲ 0.41% BYMA 315.75 ▲ 2.10% TELECOM ARG 4,098 ▲ 2.69% ECOPETROL 14.47 ▼ 1.56% BANCOLOMBIA 80.90 ▲ 2.21% GRUPO AVAL 5.08 ▲ 0.40% CREDICORP 392.32 ▲ 0.28% SOUTHERN COPPER 173.87 ▲ 1.08% BUENAVENTURA 29.96 ▲ 0.81% MERCADOLIBRE 1,806 ▲ 2.40% NUBANK 14.06 ▲ 3.31% XP 16.40 ▲ 1.49% PAGSEGURO 8.93 ▼ 2.08% STONE 10.95 ▼ 1.97% GLOBANT 30.96 ▼ 4.77% TECNOGLASS 44.55 ▼ 2.36% GAP AIRPORT 254.42 ▲ 0.28% ASUR 308.89 ▼ 0.62% OMA AIRPORT 113.04 ▲ 1.17% AMX ADR 26.14 ▲ 1.63% FEMSA ADR 130.25 ▲ 0.73% CEMEX ADR 12.32 ▲ 0.24% PETROBRAS ADR 16.26 ▲ 0.93% VALE ADR 15.09 ▲ 0.67% ITAU ADR 8.31 ▲ 2.28% SANTANDER BR 5.29 ▲ 1.93% AMBEV ADR 3.07 ▼ 0.97% CSN 0.95 ▲ 5.17% GERDAU 4.24 ▲ 4.18% LATAM ADR 57.44 ▲ 1.79% BTC 64,255 ▲ 1.11% ETH 1,818 ▲ 1.96% SOL 82.89 ▲ 1.80% XRP 1.16 — 0.00% BNB 589.89 ▲ 0.16% ADA 0.19 ▼ 2.09% DOGE 0.08 ▲ 0.07% AVAX 7.00 ▲ 1.20% LINK 8.09 ▲ 0.48% DOT 0.90 ▲ 2.34% LTC 45.35 ▼ 0.80% BCH 248.18 ▲ 1.77% TRX 0.33 ▲ 0.12% XLM 0.20 ▼ 0.37% HBAR 0.07 ▼ 2.41% NEAR 2.08 ▲ 3.43% ATOM 1.62 ▲ 1.64% AAVE 96.06 ▲ 7.96% SELIC 14.25% EMBRAER 86.29 ▲ 1.72% EMBRAER ADR 67.24 ▲ 4.88% JBS 12.13 ▼ 1.06% JBS BDR 62.00 ▼ 1.59% MBRF3 16.41 ▼ 2.21% MBRFY 3.20 ▼ 2.14% INTER 5.69 ▲ 4.02% EGX 52,503 ▲ 2.68% USD/ZAR16.20▼ 0.10% USD/NGN1,367▼ 0.10% NIKKEI 69,738 ▼ 0.01% CSI300 4,842 — 0.00% HSI 23,616 ▲ 1.14% NIFTY 24,430 ▲ 0.66% KOSPI 8,051 ▼ 0.46% JCI 5,916 ▲ 0.69% USD/JPY162.04▲ 0.45% USD/CNY6.80▲ 0.22% DAX 25,818 ▲ 0.15% CAC 8,480 ▼ 0.33% FTSE 10,652 ▼ 0.26% MIB 52,959 ▲ 0.27% IBEX 19,684 ▼ 0.85% STOXX 650.50 ▼ 0.35% EUR/USD1.14▲ 0.12% GBP/USD1.34▲ 0.26% SPX 7,537 ▲ 0.72% DJI 53,056 ▲ 0.29% NDX 29,698 ▲ 1.26% RUT 3,010 ▲ 0.45% TSX 35,212 ▼ 0.18% VIX 15.57 ▼ 1.52% USD/CAD1.42▲ 0.04% US10Y 4.4790 ▼ 0.13% IBOV 172,448 ▼ 1.04% IPSA 10,821 ▲ 1.07% IPC MEX 67,466 ▲ 0.61% MERVAL 3,266,960 ▲ 2.19% COLCAP 2,295.85 ▲ 0.01% BVL PERÚ 55,976.67 ▲ 0.32% USD/BRL 5.13 ▼ 0.78% USD/MXN 17.37 ▼ 0.61% USD/CLP 927.41 ▲ 0.69% USD/COP 3,342 ▲ 0.29% USD/PEN 3.41 ▲ 0.11% USD/ARS 1,485 ▼ 0.22% USD/UYU 40.23 ▲ 0.04% USD/PYG 6,041 ▼ 0.18% USD/BOB 6.85 ▼ 0.15% USD/DOP 58.75 ▼ 0.03% USD/CRC 450.38 ▼ 0.13% USD/GTQ 7.62 ▲ 0.05% USD/HNL 26.71 ▲ 0.01% USD/NIO 36.62 — 0.00% USD/VES 665.38 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.29 ▲ 0.33% USD/TTD 6.73 ▲ 1.17% EUR/BRL 5.89 ▼ 1.16% BRENT 71.99 ▲ 0.26% WTI 68.60 ▼ 0.13% IRON ORE 161.91 — — COPPER 6.25 ▲ 2.23% GOLD 4,176 ▲ 1.55% SILVER 62.49 ▲ 3.04% SOY 1,191 ▲ 5.21% CORN 458.25 ▲ 7.82% WHEAT 613.75 ▲ 3.94% COFFEE 347.30 ▲ 10.03% SUGAR 15.16 ▲ 2.09% ORANGE JUICE 166.00 ▼ 4.60% COTTON 78.28 ▲ 7.87% COCOA 5,723 ▲ 15.64% BEEF 239.38 ▲ 0.06% CATTLE 360.83 ▲ 0.06% LITHIUM 76.17 ▼ 0.47% PETR4 37.77 ▼ 1.25% VALE3 77.79 ▼ 1.33% ITUB4 42.56 ▼ 0.42% BBDC4 17.92 ▲ 0.04% ABEV3 15.88 ▼ 2.52% BBAS3 19.77 ▼ 1.05% B3SA3 14.58 ▼ 1.22% WEGE3 46.26 ▼ 0.47% PRIO3 53.57 ▲ 1.15% SUZB3 40.72 ▼ 0.20% RENT3 40.32 ▼ 2.73% AZZA3 17.45 ▲ 1.81% CSAN3 3.84 ▲ 1.59% RAIZ4 0.38 ▼ 2.56% PCAR3 2.75 ▲ 4.56% GMAT3 3.66 ▼ 2.40% PSSA3 53.40 ▼ 1.46% CVCB3 1.25 ▼ 4.58% POSI3 3.74 ▼ 4.59% SLCE3 12.80 ▼ 0.08% NATU3 8.31 ▼ 0.84% BRKM5 6.00 ▼ 3.85% RANI3 7.94 ▲ 0.25% CSNA3 4.76 ▼ 1.24% CMIN3 4.33 ▲ 0.46% USIM5 8.71 ▼ 0.68% GGBR4 21.84 ▲ 1.87% ENEV3 26.10 ▼ 1.99% NEOE3 33.80 — 0.00% CPFE3 44.88 ▼ 1.77% CMIG4 10.88 ▼ 1.36% EQTL3 39.06 ▼ 0.96% LREN3 14.09 ▼ 4.80% VIVT3 34.50 ▼ 0.72% RAIL3 13.50 ▼ 0.95% KLABIN 17.00 ▼ 0.58% RAIA DROGASIL 17.44 ▲ 2.17% RDOR3 35.00 ▼ 2.10% HAPV3 10.38 ▼ 2.35% FLRY3 15.65 ▼ 0.45% SMTO3 14.96 ▼ 2.24% UGPA3 27.94 ▲ 1.49% VBBR3 30.12 ▼ 0.86% BBSE3 38.71 ▲ 0.16% BPAC11 55.38 ▼ 0.82% CURY3 33.80 ▼ 3.24% AERI3 2.00 ▼ 0.99% VIVARA 22.53 ▼ 1.05% COMPASS 24.92 ▲ 0.61% VAMOS 2.87 — 0.00% SANB11 26.71 ▼ 0.89% ASAI3 8.67 ▼ 1.37% SBSP3 29.71 ▼ 2.17% WALMEX 49.06 ▼ 2.10% GMEXICO 202.40 ▲ 1.45% FEMSA 226.30 ▲ 0.77% CEMEX 21.41 ▼ 0.09% GFNORTE 188.33 ▲ 0.68% BIMBO 57.15 ▲ 1.55% TELEVISA 9.58 ▲ 1.59% AMX 23.04 ▲ 2.22% GAP 442.76 ▲ 1.23% ASUR 308.89 ▼ 0.62% OMA 245.91 ▲ 0.32% KOF 187.63 ▲ 0.62% GRUMA 283.23 ▲ 0.94% KIMBER 39.27 ▲ 1.68% SQM-B 68,260 ▲ 1.90% COPEC 5,880 ▲ 1.19% BSANTANDER 76.94 ▲ 2.52% FALABELLA 5,781 ▼ 1.01% ENELAM 82.89 ▲ 0.55% CENCOSUD 2,095 ▲ 0.24% CMPC 1,047 ▲ 0.57% BANCO CHILE 182.50 ▲ 0.01% LATAM AIR 26.30 ▲ 1.39% YPF 72,550 ▲ 1.36% GGAL 8,320 ▲ 4.39% PAMPA 5,160 ▲ 0.49% TXAR 689.00 ▲ 3.77% ALUAR 996.50 ▲ 0.35% TGS 9,365 ▲ 1.85% CEPU 2,343 ▲ 0.86% MIRGOR 17,375 ▲ 0.43% COME 44.00 ▲ 4.07% LOMA NEGRA 3,688 ▲ 0.41% BYMA 315.75 ▲ 2.10% TELECOM ARG 4,098 ▲ 2.69% ECOPETROL 14.47 ▼ 1.56% BANCOLOMBIA 80.90 ▲ 2.21% GRUPO AVAL 5.08 ▲ 0.40% CREDICORP 392.32 ▲ 0.28% SOUTHERN COPPER 173.87 ▲ 1.08% BUENAVENTURA 29.96 ▲ 0.81% MERCADOLIBRE 1,806 ▲ 2.40% NUBANK 14.06 ▲ 3.31% XP 16.40 ▲ 1.49% PAGSEGURO 8.93 ▼ 2.08% STONE 10.95 ▼ 1.97% GLOBANT 30.96 ▼ 4.77% TECNOGLASS 44.55 ▼ 2.36% GAP AIRPORT 254.42 ▲ 0.28% ASUR 308.89 ▼ 0.62% OMA AIRPORT 113.04 ▲ 1.17% AMX ADR 26.14 ▲ 1.63% FEMSA ADR 130.25 ▲ 0.73% CEMEX ADR 12.32 ▲ 0.24% PETROBRAS ADR 16.26 ▲ 0.93% VALE ADR 15.09 ▲ 0.67% ITAU ADR 8.31 ▲ 2.28% SANTANDER BR 5.29 ▲ 1.93% AMBEV ADR 3.07 ▼ 0.97% CSN 0.95 ▲ 5.17% GERDAU 4.24 ▲ 4.18% LATAM ADR 57.44 ▲ 1.79% BTC 64,255 ▲ 1.11% ETH 1,818 ▲ 1.96% SOL 82.89 ▲ 1.80% XRP 1.16 — 0.00% BNB 589.89 ▲ 0.16% ADA 0.19 ▼ 2.09% DOGE 0.08 ▲ 0.07% AVAX 7.00 ▲ 1.20% LINK 8.09 ▲ 0.48% DOT 0.90 ▲ 2.34% LTC 45.35 ▼ 0.80% BCH 248.18 ▲ 1.77% TRX 0.33 ▲ 0.12% XLM 0.20 ▼ 0.37% HBAR 0.07 ▼ 2.41% NEAR 2.08 ▲ 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Monday, July 6, 2026

Lula vs Bolsonaro, Round Two: A Simple Guide to Brazil’s 2026 Vote

By · April 12, 2026 · 19 min read

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Last updated July 6, 2026

Brazil · Elections

Key Facts

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The date: Brazilians vote on 4 October 2026 for president, all 513 deputies, 54 senators and 27 governors; a runoff, if needed, follows on 25 October 2026. Official candidacies are registered at party conventions running 20 July–5 August, with the formal campaign period opening on 16 August.

The frontrunners: President Lula (PT), aged 80, seeks an unprecedented fourth term against Senator Flávio Bolsonaro (PL); Lula has confirmed Geraldo Alckmin (PSB) as his running mate. Right-wing activist Renan Santos (Missão Party) has emerged as a notable third candidate, particularly among younger voters, while ex-Governor Ronaldo Caiado (PSD) and ex-Governor Romeu Zema (NOVO) also remain in the field.

The polls: Lula leads in the first round at roughly 40–42% to Flávio’s 31–36% (Datafolha 41–31, Indexa 42–31, PoderData 40–36, all late June 2026). In a second-round runoff, Datafolha has Lula 47%–Flávio 43%, Nexus/BTG 49%–43%, and Futura/Apex 48.1%–42.9%; a Genial/Quaest poll showed the pair tied at 41% each. Lula’s Polymarket implied probability has surged to approximately 61% following a corruption scandal that rocked Flávio’s campaign.

Jair Bolsonaro: serving a 27-year, 3-month sentence for his role in the 2022 coup plot; granted 90 days of temporary humanitarian house arrest on 24 March 2026 due to ill health (bacterial bronchopneumonia, kidney problems); that house arrest was formally extended by Justice Alexandre de Moraes on 3 July 2026; barred from office until at least 2030. Eduardo Bolsonaro was declared ineligible for 12 years on 16 June 2026 and has withdrawn. Michelle Bolsonaro has stepped down from her leadership role in the PL Mulher party wing following public disputes with Flávio.

Key campaign development: Leaked audio recordings in May 2026 linked Flávio Bolsonaro to a US$24 million film-funding request from disgraced banker Daniel Vorcaro, causing his prediction-market price to fall sharply from a peak of 45% and widening Lula’s first-round polling lead. US–Brazil trade tensions have also risen after Washington threatened new tariffs, a move Lula has pinned on his opponent following Flávio’s meeting with President Trump.

April 2026 Update — The latest Genial/Quaest poll (Apr 9–13, 2026) shows Senator Flávio Bolsonaro numerically overtaking President Lula for the first time in a second-round simulation: 42% vs. 40%. The BTG Pactual/Nexus survey (Apr 24–26) confirms a dead heat at 46% vs. 45% in the runoff. Jair Bolsonaro is imprisoned and barred from office until approximately 2060. Eduardo Bolsonaro has withdrawn as a presidential contender. Senate 2026: 54 seats contested on October 4.

TL;DR — Brazil elects a president, all 513 deputies, 54 senators, and 27 governors on October 4, 2026. President Lula (PT) seeks a fourth term against Senator Flávio Bolsonaro (PL), who now leads him numerically in every recent second-round poll. Jair Bolsonaro is imprisoned and barred from office until 2060. A runoff on October 25 is near-certain; prediction markets favor Flávio at 41% probability versus Lula at 36%.

Brazil’s 2026 presidential election is shaping up to be the most competitive race in a generation. President Luiz Inácio Lula da Silva is seeking an unprecedented fourth term, but the latest Genial/Quaest poll (April 9–13) shows Senator Flávio Bolsonaro numerically leading him for the first time in a second-round simulation — the eldest son of imprisoned former President Jair Bolsonaro. The follow-up BTG Pactual/Nexus survey (April 24–26) confirms a statistical tie: 46% to 45% in Lula’s slight favor. With the first round scheduled for October 4, 2026, here is everything you need to know about the candidates, polls, key dates, and issues driving the campaign.

When is Brazil’s 2026 election and who is running?

Brazil votes on October 4, 2026 for president, all 513 deputies, 54 senators and 27 governors, with a runoff on October 25 if needed. President Lula (PT) seeks a fourth term against Senator Flávio Bolsonaro (PL), while Jair Bolsonaro is barred from office.

Key Electoral Dates 2026

The 2026 Brazilian general election will choose the president, all 513 Chamber of Deputies seats, 54 of 81 Senate seats, and all 27 state governors. Brazil uses a two-round system: if no presidential candidate wins more than 50% of valid votes in the first round, the top two candidates advance to a runoff.

Date Event
May 15, 2026 Crowdfunding of candidates begins (TSE rules)
April 4, 2026 Resignation deadline — 11 governors stepped down to run for office
July 20 – August 5, 2026 Party conventions — formal candidate selection and coalition-building
August 16, 2026 Official campaign period begins — free radio & TV advertising starts
October 1, 2026 Campaign advertising ends (48-hour blackout)
October 4, 2026 First round: president, Congress, governors — compulsory voting
October 9–23, 2026 Second-round campaign advertising period
October 25, 2026 Second round (runoff) — if no first-round majority
Until December 19, 2026 Electoral diplomas delivered to winners by the TSE
January 1, 2027 Presidential inauguration

Every Brazilian presidential election since 2002 has gone to a runoff. Prediction markets currently give a first-round victory only a 12% probability. Under Brazilian law, voting is compulsory for citizens aged 18–69 and optional for those aged 16–17 and over 70.

Latest Poll Numbers — April 2026

First Round (Most Likely Scenario)

Pollster Dates Lula (PT) Flávio (PL) Caiado (PSD) Zema (NOVO) Others
Datafolha Apr 7–9 39% 35% 5% 4% 6%
Genial/Quaest Apr 9–13 37% 32% 6% 3% 5%+
BTG Pactual/Nexus Apr 24–26 41% 36% 3% 4% 7%
Ideia Apr 3–7 40.4% 37% 6.5% 3% 5%
Paraná Pesquisas Mar 25–28 41.3% 37.8% 3.6% 3% 3%
AtlasIntel Mar 18–23 45.9% 40.1% 3.7% 3.1% 3%

Note: AtlasIntel uses a larger sample (5,000+) and online recruitment, which tends to produce slightly higher figures for both candidates; margins of error ±1–2 pp.

Second Round Simulations — Lula vs. Top Challengers

Matchup Pollster Dates Lula Challenger Lead
Lula vs. Flávio BTG/Nexus Apr 24–26 46% 45% +1 Lula (tie)
Lula vs. Flávio Genial/Quaest Apr 9–13 40% 42% +2 Flávio
Lula vs. Flávio Datafolha Apr 7–9 45% 46% +1 Flávio (tie)
Lula vs. Flávio Ideia Apr 3–7 45.5% 45.8% Tie
Lula vs. Zema Genial/Quaest Apr 9–13 43% 36% +7 Lula
Lula vs. Zema BTG/Nexus Apr 24–26 45% 41% +4 Lula
Lula vs. Caiado Genial/Quaest Apr 9–13 43% 35% +8 Lula
Lula vs. Caiado BTG/Nexus Apr 24–26 45% 41% +4 Lula

The trend is unmistakable: Flávio Bolsonaro has erased Lula’s once-comfortable runoff lead. In December 2025 Lula held a 23-point runoff advantage; by April 2026 that gap had closed to a statistical tie. Lula wins every other simulated runoff by comfortable margins — Flávio is the only challenger who can beat him. For daily updates, see our Brazil Election Poll Tracker 2026.

Government approval (Genial/Quaest, Apr 9–13): 43% approve, 52% disapprove — the highest disapproval rate since July 2025. 72% of Brazilians report being in some form of debt.

The Candidates: Full Profiles

Luiz Inácio Lula da Silva — PT (Workers’ Party)

Age: 80 (born October 27, 1945). Running mate: Geraldo Alckmin (PSB), confirmed March 31, 2026. Status: Declared candidate.

The incumbent is running for what would be his fourth presidential term — an unprecedented feat in Brazilian democratic history. Lula served his first two terms from 2003–2010, was imprisoned on corruption charges in 2018 (later annulled), and won back the presidency in 2022 by just 1.8 percentage points over Jair Bolsonaro. In 2024 he survived emergency brain surgery following a subdural haematoma.

Platform: Lula’s 2026 campaign centers on income transfer programs (Bolsa Família, expanded to cover 21 million families), a R$700 billion stimulus package, 6×1 work schedule reform, environmental protection (Amazon deforestation fell to a 9-year low in 2023), and critical minerals diplomacy. Critics point to fiscal deterioration, a deficit that breached 7% of GDP in 2025, and an R$1.7 trillion debt stock.

Key challenge: His negative image (52% disapproval in April 2026) exceeds his positive image for the first time in his third term. A Paraná Pesquisas survey found 53% of voters believe he “does not deserve reelection.” His age and health remain background concerns despite his active campaign schedule. He retains a commanding first-round lead (37–41%) and wins all simulated runoffs except against Flávio Bolsonaro.

Flávio Bolsonaro — PL (Liberal Party)

Age: 44 (born November 7, 1981). Status: Declared candidate, endorsed by imprisoned father Jair Bolsonaro in December 2025.

Senator for Rio de Janeiro since 2019, Flávio is the eldest of Jair Bolsonaro’s political sons and the vehicle through which the imprisoned former president seeks to maintain a grip on Brazil’s right wing. São Paulo Governor Tarcísio de Freitas — by far the most popular figure on the Brazilian right — formally endorsed Flávio in January 2026 and confirmed he would seek reelection as governor rather than run for president. That decision cleared the right-wing field and gave Flávio the institutional infrastructure of Brazil’s largest state.

Rise in the polls: Flávio closed a 23-point runoff deficit against Lula in just four months. He first tied Lula in the Quaest March poll (41%–41%), then surpassed him numerically in April (42%–40%) — a historic first in that pollster’s series. Prediction markets (Polymarket) favoured Flávio in the spring, but by July 2026 had swung back toward Lula after his campaign was rocked by a corruption scandal.

Platform: Fiscal conservatism, amnesty for those convicted in relation to January 8, 2023; repeal or review of STF “censorship” rulings on social media; strong-on-crime messaging; alignment with Donald Trump’s political model. His candidacy faces a ceiling problem: high personal rejection rates, particularly in the Northeast, where Lula dominates.

Ronaldo Caiado — PSD (Social Democratic Party)

Age: 72 (born October 26, 1953). Status: Declared candidate. Former governor of Goiás (2019–2026).

Caiado resigned on April 4, 2026 to run as a centrist-right alternative. Formally nominated by PSD on March 30, he was the only candidate to survive a contested PSD primary after Eduardo Leite and Ratinho Júnior withdrew. He is positioning himself as a “third way” between the Lula and Bolsonaro camps, appealing to evangelical Christians, agribusiness (he is a physician and rancher), and fiscal conservatives who are uncomfortable with the Bolsonaro brand.

Polls: 3–6% first round; 35–41% in simulated runoffs against Lula. His challenge is breaking out of single digits in the first round. One Quaest scenario (Apr 9–13) recorded Caiado at 6% — the highest of his series. He won all of Goiás’ 246 municipalities in the 2022 gubernatorial race, giving him a strong agribusiness heartland base.

Romeu Zema — NOVO (New Party)

Age: 58 (born October 27, 1967). Status: Declared candidate. Former governor of Minas Gerais (2019–2026).

The former governor of Brazil’s second-largest electoral state resigned on March 22, 2026 to run on a free-market, anti-establishment platform. Minas Gerais, with 16.8 million voters, delivered the crucial margin of Lula’s 2022 victory by just 0.4 percentage points. The Quaest April poll places Zema at 3% nationally, but he shows stronger numbers in Minas itself (AtlasIntel recorded 4.7% for Zema among Minas voters). Zema was reelected in Minas in 2022 with 56% in the first round, but has struggled to translate that local dominance into a national coalition. In simulated runoffs, he trails Lula 36%–43%.

Other Declared Candidates

The Genial/Quaest April poll tested nine candidates. Beyond the four frontrunners, the field includes Augusto Cury (Avante, psychiatrist/author, 2%), Renão Santos (Missão, 2%), Cabo Daciolo (Mobiliza, 1%), Samara Martins (UP, 1%), and Aldo Rebelo (Democracia Cristã, <1%) — none polling above 2%.

Notable Non-Runners

  • Jair Bolsonaro: Convicted by the STF in September 2025 of attempted coup, sentenced to 27 years and 3 months in prison, and barred from holding any public office until approximately 2060 (eight years after sentence completion). He began serving his sentence in November 2025 at a federal police detention facility in Brasília. He is permanently ineligible for 2026.
  • Eduardo Bolsonaro (PL): Federal deputy and son of Jair Bolsonaro, he explored a presidential bid in 2025 but formally withdrew to support his brother Flávio. He is considering a Senate run instead.
  • Tarcísio de Freitas: São Paulo’s popular governor chose to seek reelection as governor and endorsed Flávio Bolsonaro. His coattails give Flávio a structural advantage in Brazil’s largest state (47 million voters).
  • Pablo Marçal: Declared ineligible until 2032 by the TSE for electoral crimes.
  • Rodrigo Pacheco: The Senate president (PSB) is widely expected to run for governor of Minas Gerais with Lula’s backing, not for the presidency. AtlasIntel (April 2026) shows him polling second in Minas gubernatorial scenarios behind Senator Cleitinho (Republicanos).

Senate Elections 2026: 54 Seats at Stake

Unlike the 2022 cycle (which elected one-third, 27 seats), 2026 is a two-thirds cycle: 54 of 81 Senate seats will be contested — two per state plus one for the Federal District. Brazil’s senators serve 8-year terms, and the seats up for election are those won in 2018. Senate races use a first-past-the-post system: the candidate with the most votes in each state wins, regardless of margin.

Prediction markets overwhelmingly favor the Partido Liberal (PL) to win the most Senate seats (86% implied probability), riding Flávio Bolsonaro’s presidential coattails and the party’s aggressive candidate recruitment. The PSD is the distant second at 5%.

Key Senate races to watch:

  • Minas Gerais (2 seats): Most-watched race. Rodrigo Pacheco (PSB) is pivoting to the governorship. Marilia Campos (PSB) leads early Senate polls with 19%, followed by Aécio Neves (PSDB) at 11%. This state is a national bellwether.
  • São Paulo (2 seats): Incumbents Mara Gabrilli (PSD) and Alexandre Giordano (MDB) are eligible for reelection. Multiple PL candidates are polling above 20% in early state surveys.
  • Rio Grande do Sul (1 seat): An open race with no incumbent re-running; PL’s Van Hattem is a frontrunner in early polls.
  • Paraná (1 seat): Senator Sérgio Moro (PL) is instead contesting the gubernatorial race, opening a competitive Senate seat.

Swing States and Electoral Geography

Brazil has no Electoral College: presidential votes are aggregated nationally, but regional momentum matters enormously for congressional and gubernatorial races. The three decisive regions:

  • Nordeste (Northeast) — Lula stronghold: 9 states, ~57 million voters. Lula won the region with more than 70% of the vote in 2022. This is where his social programs (Bolsa Família, Minha Casa Minha Vida) have the deepest roots. Flávio Bolsonaro’s rejection rates are highest here.
  • Sudeste (Southeast) — Battleground: São Paulo (47M voters), Minas Gerais (17M), Rio de Janeiro (12M), Espírito Santo. This is where elections are won or lost. Lula won Minas by 0.4 points in 2022; São Paulo, dominated by Tarcísio, leans right. AtlasIntel (Apr 2026) shows Flávio leading Lula 46.9%–43.7% in Minas — a reversal from 2022.
  • Sul (South) — Bolsonaro heartland: Paraná, Santa Catarina, Rio Grande do Sul. Historically the most conservative region; Bolsonaro won all three states in 2022. Jorginho Melo (PL) is a near-certain first-round winner for governor of Santa Catarina, illustrating right-wing dominance.

Six Key Issues Shaping the Race

1. Economy and Fiscal Policy

The economy is the top voter concern. The World Bank cut Brazil’s 2026 growth forecast to 1.6%, while inflation remains above the Central Bank’s target. Lula has responded with a R$700 billion stimulus package and 24,000 new federal positions, which critics call election-year spending. The opposition is campaigning on fiscal discipline and spending reform.

2. Public Security

Violent crime and organized crime remain persistent concerns. Both sides propose tougher law enforcement, but differ on the role of the military and police reform. The 2025 Rio de Janeiro Comando Vermelho operation that killed more than 120 people remains a raw wound in the national debate.

3. The Banco Master Scandal

A growing banking scandal involving Banco Master and its ties to Supreme Court justices has become a campaign issue. The IMF issued a rare warning about financial stability risks, while the STF has faced questions about judicial independence. Read our complete Banco Master Scandal coverage.

4. Incumbency Fatigue

Lula’s disapproval rating (52%) exceeds approval (43%) for the first time in his third term. His age (80 by election day), rising fiscal deficits, and the perception that his government is running out of reformist energy are all factors driving the “does not deserve reelection” sentiment (53% in Paraná Pesquisas).

5. Critical Minerals and Geopolitics

Brazil’s vast reserves of lithium, rare earths, and niobium have become a campaign issue as the US and China compete for access. The 50% US tariff on Brazilian imports (Trump’s trade war) puts both sides in a difficult position, with neither able to claim a clean position on the bilateral relationship.

6. Institutional Battles

The Supreme Court appointment standoff and the ongoing political weaponization of the STF — both for and against the Bolsonaro network — are deepening voter distrust of institutions. Flávio’s campaign explicitly targets STF overreach as a mobilizing theme for conservative voters.

How Brazil’s Electoral System Works

Brazil uses a two-round system with compulsory voting for citizens aged 18–69. Key rules:

  • A candidate must win more than 50% of valid votes (excluding blank and null ballots) to win in the first round
  • If no candidate reaches this threshold, the top two advance to a runoff three weeks later
  • Governors and state officeholders must resign at least six months before the election to run for president
  • Presidents can serve a maximum of two consecutive terms but can run again after sitting out one cycle — which is how Lula is eligible for a fourth non-consecutive term
  • Brazil has no Electoral College: all valid votes are aggregated nationally for the presidential race
  • The TSE (Superior Electoral Court) oversees all election logistics, including Brazil’s fully electronic DRE voting machines
  • Senate seats are filled by plurality (first past the post), unlike Chamber of Deputies seats which use open-list proportional representation

What to Watch Next

With less than six months until the first round, the race is entering its decisive phase:

  • May–June: Congressional vote on the 6×1 work reform bill; Lula hopes a win boosts his numbers ahead of the campaign
  • July 20–August 5: Party conventions finalize tickets and coalitions; any last-minute alliance shifts could reshape the race
  • August 16: Official campaign period begins — expect a surge in TV advertising and the first major presidential debates
  • September–October: Final polls, TV debates, and voter mobilization before the October 4 first round
  • Key metric: Flávio’s rejection rate; if he cannot bring it below 45% nationally, the runoff math favors Lula regardless of first-round momentum

This guide is updated continuously as the race develops; the newest polling and headlines are summarised in the Latest developments box. For daily coverage, visit the Brazil Elections 2026 section, and track every poll in our live poll tracker.

Related coverage: Lula Government Hub • Tax Reform 2026 • Brazil Economic Outlook • Senate Elections 2026 • Banco Master Scandal

Recent Developments · updated July 2, 2026

The countdown to Brazil’s October election is unfolding against a noisy regional backdrop. In Colombia, investors went into Sunday’s presidential runoff betting on a market-friendly outcome, with the peso and the Bogotá exchange firming ahead of the vote, even as the US embassy issued a security advisory urging caution during the ballot. For Brazilian strategists the read-through is familiar: tight Andean races move currencies and equities well before any result is certified.

Peru offers the sharper warning. Its runoff has slid into a contested count, with Roberto Sánchez disputing the tally and calling supporters to march in Lima as electoral authorities withhold a final proclamation. The episode underscores how a knife-edge result can unsettle markets and institutions alike — precisely the scenario Brazilian voters and investors may confront if polling stays close into the first round.

None of this changes Brazil’s fundamentals, but it sharpens the stakes. With the field still forming and the economy steady, the regional cycle is a live reminder that disputed margins, not landslides, are increasingly defining South America’s 2026 ballots, and that markets are already pricing the risk.


Latest developments · updated July 6, 2026

As of 6 July 2026, Lula has consolidated a clear first-round polling lead of roughly 40–42% against Flávio Bolsonaro's 31–36%, a gap that widened after May audio leaks linked Flávio to a US$24 million funding request from a disgraced banker, sending his prediction-market price tumbling from 45% to around 26%. The most significant legal development of the past week is the 3 July ruling by Supreme Court Justice Alexandre de Moraes formally extending Jair Bolsonaro's humanitarian house arrest — originally granted on 24 March — on the grounds that his health has shown improvement at home and there is no evidence of serious misconduct. With party conventions opening on 20 July, candidacies are not yet official, but internal Bolsonaro-family tensions — including Michelle Bolsonaro's departure from the PL Mulher leadership — add further uncertainty to the right-wing campaign.

Frequently Asked Questions

When is Brazil’s 2026 presidential election?

The first round is October 4, 2026. If no candidate wins more than 50% of valid votes, the top two advance to a runoff on October 25, 2026. Party conventions run from July 20 to August 5, and the official campaign period begins August 16.

Can Jair Bolsonaro run in the 2026 election?

No. Jair Bolsonaro is legally barred from holding public office until approximately 2060. The TSE disqualified him in 2023 for abuse of power, and the STF convicted him in September 2025 of orchestrating an attempted coup following his 2022 election loss. He began serving a 27-year, 3-month prison sentence in November 2025. His eldest son, Senator Flávio Bolsonaro (PL), is running in his place with Jair’s endorsement.

Who is leading in Brazil’s 2026 presidential polls?

In the first round, President Lula (PT) leads with 37–41%, ahead of Senator Flávio Bolsonaro (PL) at 32–40%. In second-round simulations, the race is a statistical tie: the Genial/Quaest poll (April 9–13) shows Flávio at 42% vs. Lula 40%, while the BTG/Nexus poll (April 24–26) shows Lula at 46% vs. Flávio 45%. All margins are within the ±2 percentage-point margin of error. Lula wins every other simulated runoff against candidates other than Flávio.

Is voting mandatory in Brazil?

Yes, for Brazilian citizens aged 18–69. Voting is optional for those aged 16–17 and those over 70. Failure to vote without a valid justification results in a fine and temporary loss of access to government documents. Brazil’s compulsory voting system produces turnout rates above 70% and makes polls more predictable than in voluntary-voting systems.

How many seats are contested in Brazil’s 2026 Senate election?

54 of 81 Senate seats — two per state plus one for the Federal District — are contested in 2026. Brazil’s senators serve 8-year terms in staggered cycles; 2026 is the two-thirds cycle (seats won in 2018). Senate races use first-past-the-post: the candidate with the most votes per state wins. Prediction markets give PL an 86% probability of winning the most seats overall.

Who is Flávio Bolsonaro?

Flávio Bolsonaro (born 1981) is a Brazilian senator for Rio de Janeiro (since 2019) and the eldest son of imprisoned former president Jair Bolsonaro. He entered the 2026 presidential race in December 2025 with his father’s formal endorsement and the support of São Paulo Governor Tarcísio de Freitas. As the PL’s candidate, he has closed a 23-point polling deficit to reach a virtual tie with Lula in second-round simulations by April 2026.

Why is Brazil’s 2026 election going to a runoff?

Every Brazilian presidential election since 2002 has gone to a runoff because no candidate has won more than 50% of valid votes in the first round. In 2026, Lula is polling at 37–41% in the first round — well below the 50% threshold. Prediction markets assign only a 12% probability to a first-round outcome. The most likely runoff matchup is Lula vs. Flávio Bolsonaro on October 25, 2026.

What is Brazil’s electoral system for the presidential race?

Brazil uses a two-round majority system with no Electoral College — all valid votes are aggregated nationally. A candidate wins outright if they exceed 50% of valid votes (blank and null votes excluded) in round one. Otherwise, the top two proceed to a runoff three weeks later, where the plurality winner is elected. Voting is compulsory for citizens aged 18–69 using fully electronic DRE machines overseen by the TSE.

What are the key issues in Brazil’s 2026 election?

The main issues are: (1) Economy — slowing growth (World Bank forecast: 1.6%), high debt (72% of Brazilians report being indebted), and fiscal deficits above 7% of GDP; (2) Public security — organized crime and police violence; (3) Institutional battles — STF independence and the Bolsonaro amnesty debate; (4) Incumbency fatigue — Lula’s 52% disapproval; (5) Critical minerals — Brazil’s lithium and rare-earth diplomacy amid US-China rivalry; and (6) The Banco Master financial scandal.

Who is Ronaldo Caiado and why is he running?

Ronaldo Caiado (PSD) is the former governor of Goiás (2019–2026), a physician, rancher, and veteran politician who has run for president before (1989). He resigned on April 4, 2026 to pursue the presidency as a “third way” candidate appealing to evangelical Christians, agribusiness, and fiscal conservatives uncomfortable with the Bolsonaro brand. He polls at 3–6% in the first round nationally, but performs better in second-round simulations (35–41% vs. Lula) than his first-round numbers suggest.


Last updated: July 6, 2026. Sources: Datafolha, Genial/Quaest, AtlasIntel, Reuters, TSE, BBC, Wikipedia 2026 Brazilian general election, Polymarket, El País English.

Connected Coverage

Follow the numbers in our live 2026 Brazil poll tracker, and compare the regional picture in Peru’s 2026 election guide.

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