Mail‑in voting opens this week for California’s June 2 primary, but the contest to succeed Gov. Gavin Newsom resembles a reality‑show scramble. Dozens of little‑known hopefuls vie alongside billionaire Tom Steyer, who has poured $132 million of his own cash into ads. Former congressman Eric Swalwell withdrew after sexual‑predation accusations, leaving a field that lacks a clear front‑runner in a bruising contest.

Republicans see a path to the top two slots in the all‑party primary. Sheriff‑coroner Chad Bianco runs a Trump‑style “stop‑the‑steal” campaign, even seizing 650,000 ballots before the state Supreme Court halted his probe. Steve Hilton, the ex‑Fox News host, has led recent polls and counts on former President Trump’s endorsement to break Democratic dominance and aims to capitalize on voter fatigue.

On the Democratic side, former HHS secretary Xavier Becerra offers institutional experience, while San Jose mayor Matt Mahan courts Silicon Valley money, and ex‑Congresswoman Katie Porter relies on her combative brand. Steyer’s self‑funded surge has forced the party to split resources, raising doubts about policy continuity that could rattle tech‑heavy portfolios and real‑estate investors alike and could shift regulatory outlook.