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Lance Bottoms has won the Georgia governor's race, defeating Republican challenger Jackson, according to an NBC projection cited by First Squawk. The result settles the contest for the state's top executive office, though the report did not include vote margins or other detailed figures. The outcome may shift the state's policy direction on taxes, spending and regulation, which matters for investors with exposure to Georgia-based companies and municipal debt. What to watch next is certification of the results and any signal from the incoming administration on budget and economic priorities.

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Lance Bottoms, Jackson, Georgia, NBC