Proposition 40, a California ballot initiative, would impose a one-time 5% tax on the net worth of certain California billionaires if approved. More than two-thirds of Generation Z support taxing wealthy people, and 75% say they plan to vote for the measure, according to a report from The Hill. The initiative has been certified for the November 2026 ballot after collecting the required signatures, and its demographic support aligns with earlier polls showing majority backing statewide. A prediction market (venue where contracts reflect traders' views) currently prices a YES outcome at 28.5%, down from 30% the previous day. Market participants appear to view Gen Z support as a possible sign of voter enthusiasm, although the pricing indicates the measure remains contested rather than assured. Attention will focus on positions from Governor Gavin Newsom and major Democratic candidates, additional polling from PPIC or Berkeley IGS, and any substantial opposition campaign funding. These developments could affect voter sentiment and market pricing.