**Michigan voters face an automatic constitutional convention question on the November 3, 2026 ballot, the fourth such referendum since the 1963 Constitution took effect.** The measure asks whether to convene elected delegates in 2027 for a general revision, with any proposals then submitted to voters for ratification. Historical precedent strongly shapes current trader sentiment, as voters rejected prior calls by wide margins—77% no in 1978, 72% in 1994, and 67% in 2010—reflecting consistent preference for the existing framework over a full rewrite. A broad bipartisan coalition, Protect MI Constitution from Special Interests, has mobilized against the proposal, drawing support from labor groups including the UAW, education organizations such as the Michigan Education Association, business chambers, conservation advocates, and voting-rights coalitions. These groups highlight risks that a convention could reopen settled provisions on public education, collective bargaining, abortion rights, redistricting, and other voter-approved amendments. Limited endorsements for the measure have come primarily from some Republican legislators seeking targeted revisions, but no broad polling shift or major pro-convention campaign has emerged to alter the trajectory. As a result, trader consensus prices the “no” outcome at 93%, consistent with the pattern of decisive rejection when the question last appeared.