Ongoing federal investigations into Minnesota’s Medicaid and housing program fraud, along with a separate DOJ probe into potential obstruction of immigration enforcement, have produced numerous indictments against other individuals but none against Governor Tim Walz as of June 2026. Congressional Oversight Committee hearings in March highlighted testimony alleging that Walz and Attorney General Ellison knew of widespread fraud earlier than disclosed and failed to act, prompting grand jury subpoenas to his office and related state entities. Walz has since announced he will not seek reelection, citing the investigations. Traders assign low probabilities to near-term charges, reflecting the absence of confirmed evidence sufficient for indictment while acknowledging ongoing scrutiny and potential for new developments before the December 2026 resolution window.