The 2026 election season is poised to bring substantial changes to the roster of state attorneys general (AGs). On November 3, voters in 30 states and the District of Columbia will decide AG races, and the results are set to influence legal and policy outcomes well beyond state lines. For companies operating in these states, the stakes are concrete: AGs now sit at the center of enforcement affecting technology, consumer protection, gambling and prediction markets, health care, consumer financial services (including Tribal lending), privacy, and other regulated areas.

Three features define this cycle. First, turnover is guaranteed: at least 11 new AGs will take office in January. Second, the competitive map has widened beyond the traditional battlegrounds. Third, enforcement itself has become a campaign issue, with candidates running on — and against — their offices’ litigation records. Together, these dynamics mean the results will shape not only who occupies these offices but also how enforcement priorities and multistate coalitions develop in 2027.

The Numbers Behind the Turnover

Democrats are defending 17 of the 31 offices on the ballot, and Republicans are defending 14. Nationwide, Republicans hold 27 AG offices and Democrats hold 24. Given the current political landscape, Democrats have a path to a national majority, while Republicans could absorb limited losses and retain control.

The scale of change is notable. When this group of 31 offices was last on the ballot in 2022, three seats changed party hands — Arizona, Iowa, and Vermont. This year, at least 11 seats are open because the incumbent is term-limited or seeking another office, and additional turnover is possible in races involving incumbents. A sizable incoming class could also reshape how AGs work together, including those who emerge as leaders within the national associations and multistate coalitions.

Open Seats: Transition Risk Regardless of Party

Open seats pose a distinct challenge for companies even where the office is expected to stay in the same party’s hands. When an AG leaves to pursue higher office, devoted senior staff often follow, creating turnover across the senior ranks of the office, not just at the top. Companies with active investigations or litigation in these states face a practical question: whether to seek a resolution before the current AG departs or to let the matter proceed under the new administration.

Nevada illustrates the stakes. Democratic AG Aaron Ford is term-limited and running for governor, and he has been a leader in children’s privacy cases against technology companies and among his colleagues at the Democratic Attorneys General Association. In the open race, Democrat Nicole Cannizzaro has outraised Republican Adriana Guzmán Fralick and every other statewide candidate. Michigan, where term-limited AG Dana Nessel’s successor will be chosen in a race forecasters view as close, has another open seat to watch.

Competitive Incumbents: Familiar Matchups, Tighter Margins

Several incumbents face serious challenges, and several of the most closely watched contests are rematches of narrow 2022 races. In Arizona, Democratic AG Kris Mayes, who won by roughly 0.01% in 2022, faces Republican Warren Petersen in what is expected to remain a tight race. In Wisconsin, Democratic AG Josh Kaul again faces Republican Eric Toney, whom he defeated by 1.33% four years ago.

Kansas shows how far the competitive map has expanded. Republican AG Kris Kobach, who won the 2022 race by 1.6 percentage points, faces Democrat Chris Mann in a rematch. Sabato’s Crystal Ball has shifted the race from “likely Republican” to “leans Republican,” before the Kansas Fraternal Order of Police endorsed Mann — its first Democratic endorsement for attorney general since 2002. Democrats have won an AG election in Kansas just once in the last 50 years. Because the Kansas office is large for the state’s size, the outcome will determine whether those resources are directed toward Republican or Democratic priorities.

Enforcement Has Become a Campaign Issue

In several states, candidates are debating not only who should lead the office, but how its authority should be used. Iowa offers a clear example. Republican AG Brenna Bird points to her office’s technology litigation and consumer protection work as part of her reelection campaign against Democrat Nate Willems, and the national associations have each committed $1.5 million to the race. In Georgia’s open race, Democrat Tanya Miller and Republican Brian Strickland are debating government transparency, open-records enforcement, and license-plate surveillance.

For businesses, the implication is straightforward: AG enforcement is no longer something to evaluate only after Election Day. Positions candidates take on the campaign trail represent a reliable preview of where new administrations may direct their resources.

What Businesses Should Watch

Companies with significant state regulatory exposure should look beyond which party wins each race. The more consequential questions are which candidates are emphasizing issues relevant to those companies’ industries, which offices are likely to experience leadership and senior staff turnover, and how a sizable incoming class could alter the makeup and priorities of multistate coalitions.

Between now and November, businesses should monitor competitive races alongside candidates’ stated enforcement priorities, particularly where AG activity is already increasing, and should assess whether pending matters in open-seat states are better resolved before the transition. After Election Day, attention will shift to incoming AGs’ senior staff appointments and early policy announcements, and to which existing investigations, litigation, and multistate coalitions they choose to join or lead. Understanding these changes early will be critical for companies seeking to anticipate and respond to new AG leadership.

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Troutman Pepper Locke State Attorneys General Team

	Ashley Taylor – Co-leader and Firm Vice Chair Ashley is co-leader of the firm’s nationally ranked State Attorneys General practice, vice chair of the firm, and a partner in its Regulatory Investigations, Strategy + Enforcement (RISE) Practice Group. He helps his clients navigate the complexities involved with multistate attorneys general investigations and enforcement actions, federal agency actions, and accompanying litigation.
	Clay Friedman – Co-leader Clay co-leads the firm’s State Attorneys General practice and is nationally ranked by Chambers USA for AG Government Relations and in Best Lawyers for Advertising Law. He has dedicated his entire career to state attorney general and federal work, serving for nearly a decade in a senior role and more than 25+ years in private practice. Clay focuses his practice on helping industry-leading companies mitigate the risks associated with state and federal regulatory investigations and associated litigation.
	Chris Carlson Chris advises clients on regulatory, civil, and criminal investigations and litigation. With a background as an assistant attorney general, he provides practical guidance to clients with matters involving state attorneys general and federal regulatory agencies.
	Lauren Fincher Lauren has vast experience handling state attorneys general investigations, navigating complex regulatory compliance matters, and providing strategic counsel in enforcement actions across various industries. She helps clients manage high-stakes regulatory matters and guides them through complex legal landscapes.
	Stephen Piepgrass Stephen leads the firm’s Regulatory Investigations, Strategy + Enforcement (RISE) Practice Group, representing clients in single and multistate enforcement actions, including inquiries and investigations involving state attorneys general and other state and federal governmental enforcement bodies including the CFPB and FTC. He regularly represents clients in highly regulated sectors such as financial services, emerging technologies, health care, insurance, and education.
	Michael Yaghi Mike handles high-profile investigations led by state attorneys general, the FTC, and other federal and state regulatory bodies. He assists clients through these complex government inquiries, assisting them throughout the entire life cycle of investigations, from regulatory enforcement through formal litigation.
	Matthew J. Berns Drawing on his experience in senior leadership roles in the New Jersey Attorney General’s and Governor’s Offices and as a trial attorney for the U.S. Department of Justice, Matt provides an insider’s perspective when guiding clients through complex government investigations, litigation, and other actions.
	Reade Jacob Reade counsels gaming companies, financial institutions, fintech and social media platforms, and other commercial clients on regulatory, enforcement, and compliance matters spanning three core areas: gaming and sports betting, consumer protection, and privacy and data security. His gaming practice covers daily fantasy sports investigations, state wagering licensure, social casino litigation, and federal and state gambling compliance. On the consumer protection side, he has represented clients before the CFPB, FTC, and state AGs, negotiating settlements and consent orders, and litigating high-stakes matters in administrative courts and arbitration proceedings.
	Jeff Johnson Jeff helps clients navigate complex regulatory and litigation challenges with local, state, and federal authorities. His clients benefit from his decade of broad litigation experience, understanding of emerging state and federal regulatory issues, and strong relationships with attorneys general across the U.S. In addition to handling cases from trial through state or federal appeals, Jeff serves as amicus counsel in advancing legal rules to support his clients’ vital interests.
	Jay Myers Jay assists clients in heavily regulated industries, including health care, energy, insurance, emerging industries, and data privacy. He provides both regulatory legal advice and government relations strategies. Jay’s past and current clients include Fortune 10 companies, startups, nonprofits, industry associations, and advocacy groups. Recognizing that state government matters are often complex and multifaceted, he utilizes regulatory guidance, government advocacy, or both in tandem to deliver tailored solutions for each client’s unique needs.
	Zoe Schloss Zoe represents clients in litigation and government investigations. As former deputy attorney general for the Delaware Department of Justice, she is an experienced litigator who understands the enforcement priorities that impact her clients. Zoe works with individuals and corporate entities in highly regulated industries, including financial services, health care, and energy.
	Jessica Birdsong Jessica is an associate in the firm’s Regulatory Investigations, Strategy + Enforcement Practice Group. She received her J.D. from the University of Richmond School of Law, magna cum laude, where she served as associate articles editor of the Journal of Law & Technology.
	Sydney Goldberg Sydney is an associate in the firm’s Regulatory Investigations, Strategy + Enforcement (RISE) Practice Group. She advises clients on regulatory compliance and state attorney general (AG) investigations in highly regulated industries, including health care and life sciences. She routinely helps clients navigate alcohol compliance and licensing issues, helping proactively manage regulatory risk.
	Troy Homesley Troy is an accomplished litigator who has represented and defended clients across a wide range of complex, high-stakes disputes at both the trial and appellate levels. He has represented technology companies, business executives, law firms, investment funds, high-ranking federal officials, international non-profits, and asylum seekers. Troy draws on his broad litigation experience to advise clients before litigation arises, while claims are pending or threatened, and leading up to and through trial and appeals.
	Namrata Kang Namrata (Nam) is an associate in the firm’s Regulatory Investigations, Strategy + Enforcement (RISE) Practice Group, based in the Washington, D.C. office. She routinely advises clients on a wide variety of state and federal regulatory matters, with a particular emphasis on state consumer protection laws relating to consumer financial services and marketing and advertising. Nam’s experience transcends multiple industries, including financial services, telecommunications, media, and sports betting.
	Michael Lafleur Michael is an associate in the firm’s Regulatory Investigations, Strategy, and Enforcement Practice Group. Based out of the firm’s Boston office, Mike has deep experience in litigation, investigations, and other regulatory matters involving state-level regulators and state attorneys general.
	William LaRosa Bill represents clients in complex regulatory investigations, state attorneys general matters, and enforcement proceedings. He draws on his experience as a former assistant U.S. attorney and as a private-sector litigator advising corporations in high-stakes litigation and regulatory investigations, including multistate AG investigations.
	Lane Page Lane represents financial institutions and other clients in federal and state regulatory investigations and complex civil litigation. He is particularly focused on consumer protection and fair lending issues.
	Dascher Pasco Dascher provides strategic counsel and representation to clients navigating regulatory compliance, enforcement, and high-stakes litigation. She regularly represents clients in both single and multistate state attorney general (AG) investigations and enforcement actions, as well as before other state enforcement bodies and local government agencies.
	Kyara Rivera Rivera Kyara is an associate in the firm’s Regulatory Investigations, Strategy + Enforcement Practice Group. She received her J.D. from the University of Richmond School of Law, cum laude, where she served as publications and online editor of the Public Interest Law Review.
	Timothy Shyu Timothy advises clients on regulatory compliance and enforcement in highly regulated industries, including health care and life sciences, data privacy and cybersecurity, and emerging technology. He assists companies in navigating complex investigations and enforcement actions, helping them mitigate regulatory risk proactively.
	Trey Smith Trey focuses his practice on representing and advising regulated utilities before state public utility commissions. He routinely helps clients obtain certificates of public convenience and necessity for transmission infrastructure. In this role, Trey works with his clients’ subject-matter experts to manage administrative proceedings, including by preparing initial filings; responding to discovery requests; drafting rebuttal testimony; and litigating any disputed issues.
	Daniel Waltz Dan helps clients navigate all aspects highly regulated relationships between industry participants and federal, state and local governments. Whether engaging with regulators, negotiating transactions or representing clients in the courtroom, he delivers solutions that help his clients achieve their strategic goals.
	Stephanie Kozol Stephanie is Troutman Pepper Locke’s senior government relations manager in the state attorneys general department.