The February 2026 Thai general election delivered Pheu Thai 74 seats in the 500-member House of Representatives, confirming the market’s overwhelming consensus for the 70–79 range. The party’s decline from 141 seats in 2023 stemmed from repeated constitutional-court interventions that removed two Pheu Thai prime ministers, internal coalition fractures, and voter backlash in its traditional northeastern strongholds amid border tensions with Cambodia. Bhumjaithai capitalized on these shifts by consolidating conservative and local patronage networks, while the progressive People’s Party drew support away from reform-minded voters. Final certified totals could still see minor adjustments of a few seats, yet the scale of the reported outcome leaves little room for movement outside the current band unless significant recounts or disputes emerge before official proclamation.