Ongoing federal investigations into Minnesota's massive Medicaid and housing fraud scandals, along with probes into alleged obstruction of immigration enforcement, shape trader views on whether Gov. Tim Walz faces criminal charges. House Oversight Committee testimony and grand jury subpoenas to Walz and other officials highlight claims of delayed responses to warnings about billions in improper payments, while DOJ actions target potential interference with federal agents. Minnesota Republicans advanced impeachment resolutions citing failure to execute laws, though those efforts stalled in committee. Walz has not been charged, dropped his reelection bid amid the fallout, and introduced anti-fraud measures, leaving outcomes dependent on any new indictments or procedural developments before term end.