California voters will decide Proposition 4 on November 3, 2026, which would repeal the 1988 ban on public campaign financing and let state and local governments create optional programs for candidates who meet spending limits and show broad support. The narrow edge for rejection reflects partisan divisions, with Democratic legislative majorities and groups like Common Cause and the League of Women Voters backing the change to limit wealthy donor influence, while taxpayer organizations oppose it over costs and preferences for private funding. The measure bars use of education, transportation, or public safety funds and adds restrictions on legal expenses or loans. No major new polling shifts have emerged in recent weeks, leaving the outcome sensitive to turnout among fiscal conservatives and reform advocates in the final month before the election.