Hyde-Smith concedes: Democrat Scott Colom wins Mississippi Senate seat, Democrats reach 55

Democrat Scott Colom won Mississippi's Senate race over Republican Sen. Cindy Hyde-Smith, the Associated Press reported Wednesday, according to CNBC. Two sources close to the campaign told CNBC that Hyde-Smith called Colom late Wednesday afternoon to concede, and her campaign confirmed the call to the Mississippi Free Press. It follows our Nov. 11 report that the race was still uncalled.

The concession

In a video posted online, Hyde-Smith said: "While this is not the outcome we worked for, or hoped for, I respect the decision of Mississippi voters." She also said her campaign had worked over the past week "to ensure every legally cast vote was counted," WLBT reported. In our last story we noted we had not confirmed any recount request or lawsuit; her concession ends that question for this race.

The margin was thin. WLBT's headlines put Colom's lead at just over 3,000 votes earlier in the week and over 4,400 later. Those are unofficial counts, and the state still has to certify the result.

What it changes in the Senate

CNBC reports Democrats will hold at least 55 seats in the next Senate, having flipped at least eight Republican-held seats, and that Colom will be the first Black senator from Mississippi since Reconstruction. Mississippi Free Press notes Hyde-Smith was appointed in 2018 after Thad Cochran's death, then won a special election that year and a full term in 2020.

The Mississippi seat takes Democrats past the 54 they were counted at in our earlier stories. Alaska is the only race left to call; CNBC says Democrat Mary Peltola holds a narrow lead over Republican Sen. Dan Sullivan. Our earlier reports cover the legal fights around that count.

CNBC adds that Democrats have also won enough seats to take the House in January. A larger Senate majority gives Democratic leaders more room on close votes and nominations, though a filibuster still needs 60 votes to end.

What to watch

• Mississippi's formal certification of the result.
• Alaska's remaining count and whether ranked-choice tabulation is needed.
• Committee assignments and the agenda for January, when the new Congress is seated.

Sources: CNBC; Mississippi Free Press; WLBT; AP, Reuters and Financial Times headlines. Vote counts are unofficial. This is news reporting, not investment advice.