Councilmember Nithya Raman shocked LA politics by entering the mayoral race just hours before the filing deadline, despite having endorsed Bass for re-election weeks earlier. Her market price dropped 15 cents to 11¢, suggesting trader skepticism about her late entry, but recent polling shows the race tightening with Bass at 25%, Raman at 17%, and reality star Spencer Pratt at 14%. The market movement reflects the challenge facing any candidate entering against an incumbent so late in the cycle. With 40% of voters undecided and 13 challengers splitting the field, Bass faces the real possibility of being forced into a November runoff if she falls below 50% on June 2. Political handicappers appear cautious about Raman's chances despite her progressive credentials and DSA backing in a heavily Democratic city.