Franchot ran in the Democratic primary for Comptroller of Maryland against incumbent William Donald Schaefer and Anne Arundel County Executive Janet S. Owens. In the primary, Franchot edged out Owens by 15,000 votes, pushing Schaefer into third place. Franchot won the Washington, D.C., suburbs (Montgomery County and Prince George's County), Owens won in Central Maryland (Howard County and Anne Arundel County), and Schaefer won in Baltimore City and Baltimore County. Franchot defeated the Republican nominee, Anne McCarthy, in the general election on November 7, 2006. Franchot was sworn into office on January 22, 2007. In 2018, Franchot defeated Republican challenger Anjali Reed Phukan.