Sometimes a high-profile election loss spells the end of a political career. Other times, it’s just a bump in the road — and that may be the case for former Gov. Larry Hogan, who lost a U.S. Senate race to Democrat Angela Alsobrooks this week.

Hogan has been a uniquely talented Republican politician in Democratic-dominated Maryland, winning election as governor twice. And despite his loss, Hogan has hinted that this is not the last we’ve heard from him.

“Though this chapter ends tonight, our work and our commitment to a brighter future and a better path forward will continue,” Hogan said at his election night party on Tuesday. “The stakes are far too high for any of us to walk away and just sit on the sidelines.”

He added: “To everyone who stood with us in this cause, who’ve worked, fought and believed in this campaign, let me say this: You should never apologize for standing up for decency and common sense. Never give in to fear or cynicism and never give up on the work of changing Maryland and America for the better.”

That last phrase echoes the campaign taglines that Hogan used in his two successful runs for governor.

Bobby Zirkin, a former state senator and a leader of the Democrats for Hogan coalition, said he hopes Hogan will stick with his efforts to try to fix divided politics.

“Because that’s what’s necessary, right? There’s a lot of ways to make a difference besides running for office,” Zirkin said. “And I hope he focuses on what he’s been focusing on for years now, which is trying to change the tenor of politics in Washington.”

Nicole Beus Harris, chair of the Maryland Republican Party, said Hogan has proven he has political appeal.

“I would say if he chooses and still wants to go on a political road, we would probably see him again,” Beus Harris said. “His numbers show that he still has an appeal, and that people from all walks of life are supporting him: Republicans, Democrats and independents that voted for him to get those numbers he’s putting up.”

Hogan’s campaign team declined to speculate on the former governor’s long-term moves, but said his immediate plans were to take his grandchildren to Disney World.

“He is deeply proud of the campaign’s work to center the conversation around the issues that matter to Marylanders and the need to fix our nation’s broken politics — something he’ll always care about,” said campaign spokeswoman Blake Kernen.

We’ve pulled together some options that the former governor might be considering.

Run for office again — maybe even for governor?

“What Democrats are worried about is the possibility of him running for governor. That’s the worry from them,” said Mileah Kromer, director of the Institute of Politics at the University of Maryland, Baltimore County.

Kromer wrote a book on Hogan and has been a longtime observer of his political career. She said that if Hogan does run for office again, he’ll likely keep that decision close to his chest “for the foreseeable future” — which is what he did this cycle, announcing his Senate campaign on the last day he could file as a candidate.

Hogan did already serve two terms as governor, and has a two-term limit — but the state constitution only mentions consecutive terms.

So after being out of office for four years, Hogan, in theory, could run for governor again in 2026. He’d likely face off against Democratic Gov. Wes Moore, which would probably make for an intense, competitive and expensive race. There’s no love lost between the two men, with Moore regularly referring to Hogan as “the old governor” and Hogan responding by selling “OG governor” T-shirts.

In 2028, Hogan could run for the Senate again, when the seat held by U.S. Sen. Chris Van Hollen, a Democrat, is up for election.

Or he could eye the House of Representatives. Hogan lives in the 5th Congressional District, where Democratic U.S. Rep. Steny Hoyer is 85 years old and could conceivably retire. An open seat would be easier to win than going up against a legendary incumbent, but 58% of the district’s voters are Democrats, presenting a challenge for a Republican.

Launch a media career

It’s no secret that cable news networks love booking Hogan. He’s comfortable on camera, is adept at talking politics and is a rare Republican unafraid to criticize Donald Trump, who is set to return to the White House as president in January.

Hogan frequently is interviewed on cable shows, so could he leverage that into a paid pundit gig?

“He is not shy about going on cable news. There is a possibility about being a political commentator,” Kromer said.

Hogan could follow the path of Michael Steele, who was Maryland’s Republican lieutenant governor from 2003-2007. After his own failed run for Senate, Steele was chair of the Republican National Committee for two years and then was hired as a political analyst for MSNBC.

He’s moved up the ladder at MSNBC, where he is co-host of a political talk show, “The Weekend.”

Lean into being a professional centrist

Hogan regularly speaks about dysfunction in Washington and the need to bridge political divides.

He’s used his advocacy organization, An America United, to advance those ideas and for a time he was involved with the centrist group No Labels.

Perhaps there’s room for Hogan to intensify his centrist advocacy through one of those organizations or another entity.

He can continue to line up speaking engagements and visiting roles at universities, as he has done since leaving office.

And that kind of work pays: Hogan’s latest financial disclosure shows he’s been paid between $10,000 and $37,000 for speeches before business organizations and trade groups.

Hogan also has had invitations to participate in short-term gigs in higher education — including a spring semester fellowship at American University’s Sine Institute of Policy & Politics that earned him $25,000.

Hogan also has withdrawn from planned university events, including programs at Harvard, due to concerns of anti-Semitism on campus.

Take a pass on politics

Hogan has had a long career in real estate — and he continued earning money from his company while governor — and there’s no sign that his business is going anywhere. The Hogan Companies, based in Annapolis, has a number of projects in the works, according to its website.

Hogan appears to have built significant wealth over the years, obviating the need to earn another paycheck. He could return his focus to his real estate business or move into some form of retirement.

After all, Hogan is 68 years old, and said on election night that the greatest titles he’s had are “Dad” and “Pop-Pop.”

According to Hogan’s financial disclosure, his state government pension is worth more than $100,000 per year and he holds at least $3 million in certificates of deposit and various checking, money market and brokerage accounts. That doesn’t include the value of the Hogan Companies and its various subsidiaries and properties, which don’t all have a reported estimated value.

Hogan could expand his business affairs to serving on corporate boards, which often comes with a paycheck or shares of stock. He already serves on the advisory boards of two cybersecurity companies, Anomali Inc. and Conceal Inc., both of which granted him options to purchase shares of stock, according to his financial disclosure.

This article has been updated to correct the spelling of Blake Kernen’s name.

Baltimore Banner reporter Brenda Wintrode contributed to this article.