South Dakota Governor Rhoden Defeats Bitcoin-Focused Challenger in Historic Primary Runoff

South Dakota Gov. Larry Rhoden secured his party’s nomination Tuesday by decisively defeating businessman Toby Doeden in a historic primary runoff contest. The Associated Press declared Rhoden the winner within minutes of polls closing, with the governor capturing 70.5% of the vote to Doeden’s 29.5% based on approximately 25% of expected ballots counted. The matchup represented the first gubernatorial primary runoff ever held in South Dakota history.

State law mandates a runoff between the top two finishers when no candidate for governor, U.S. Senate, or U.S. House reaches the 35% threshold in a primary election. Both Rhoden and Doeden had fallen short of that mark in June’s four-way primary, with Doeden finishing first at 30.6% and Rhoden second at 25.2%. Rhoden assumed the governorship in early 2025 following Kristi Noem’s departure to join the Trump administration, while Doeden entered the race as a political newcomer and entrepreneur.

Doeden built a public persona as an ardent Bitcoin advocate, claiming he began investing heavily in cryptocurrency around 2020 after spending approximately 500 hours researching digital assets. He has stated he converted nearly all company cash reserves into Bitcoin and promised on his podcast to purchase the digital currency “every single day.” Doeden had pushed for South Dakota to create a state Bitcoin reserve and allow the state investment council to allocate pension funds toward cryptocurrency—proposals that drew opposition from state financial officials.

Property taxation emerged as a central campaign issue, with Doeden calling for complete elimination of property taxes while accusing Rhoden of fiscal irresponsibility. Rhoden’s campaign countered that Doeden’s proposal would devastate local government and school funding, instead touting tax relief measures the governor signed in March that his team characterized as the state’s largest property tax reduction on record.

Doeden positioned himself as an anti-establishment outsider challenging South Dakota’s political establishment, while Rhoden emphasized his legislative experience and argument that years serving in state government had provided practical expertise. President Donald Trump did not publicly endorse either candidate during the runoff, though he thanked Rhoden by name during July 3 remarks at Mount Rushmore. Doeden campaigned as a Trump supporter pledging to advance the president’s “America First agenda.”

Rhoden advances to November’s general election to face former Democratic state Sen. Dan Ahlers. South Dakota has not elected a Democratic governor since Richard Kneip won re-election in 1974, with no member of the party holding the office since Harvey Wollman departed in 1979.