Republican businessman Eric Hovde conceded defeat in the race for a U.S. Senate seat in Wisconsin, blaming a third-party candidate recruited by Democrats for siphoning off votes that cost him the victory. Hovde, a multimillionaire bank owner and real estate developer, posted his concession video on social media 12 days after the race was called in favor of Democratic incumbent Tammy Baldwin. Despite a margin of defeat of less than 1 percentage point at about 29,000 votes, Hovde decided against requesting a recount, citing a desire to avoid further political strife. He repeated claims of irregularities regarding absentee ballots in Milwaukee that were refuted by election leaders from both parties. Hovde also accused Democratic operatives of supporting far-right candidate Thomas Leager, who finished fourth and received about 400 fewer votes than the margin between Baldwin and Hovde. Despite the loss, Hovde has not ruled out another political campaign in the future, with some Republicans considering him as a potential candidate for governor in 2026. The Associated Press contributed to this report.
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