**Incumbent Josh Morgan holds a commanding position in the London, Ontario mayoral race, priced at 77.5% by traders, well ahead of Ward 4 Councillor Susan Stevenson at 18.5% and distant longshots including Kirsten Krose and John Feher.** As the first mayor seeking re-election in two decades after his 2022 victory, Morgan benefits from high name recognition and a platform centered on continuity in housing, transit, economic supports such as a proposed tariff-response service, and measured progress on homelessness through additional supportive housing spaces. Recent October debates have highlighted contrasts on property-tax restraint and spending reviews, with Stevenson advocating stricter limits and spending audits while Morgan defends incremental increases tied to service delivery. The fragmented field of 12 candidates and the October 26 vote date reinforce the market's emphasis on the incumbent's structural edge heading into the final weeks.