Incumbent Josh Morgan holds a commanding position in the London, Ontario mayoral race as the first mayor seeking re-election in over a decade, with trader consensus assigning him a 76% implied probability ahead of the October 26 vote. His campaign has emphasized continuity on housing, transit, economic growth, public safety, and recent affordability pledges such as freezing recreation fees, supported by endorsements from construction trades groups. Ward 4 Councillor Susan Stevenson, positioned at 24%, has focused on property tax restraint and expanded deferral programs, while other registered candidates including Kirsten Krose remain at minimal levels amid a crowded field of 12. Advance voting periods and scheduled debates provide limited remaining windows for shifts before election day.