Republican Todd Young wins Indiana Senate race, defeating former political giant Evan Bayh

Republicans have held on to one of the key Senate seats, with Rep. Todd Young winning the open Indiana Senate race over former Democratic Sen. Evan Bayh — ending a long career in Indiana politics.

Young has been projected as the winner by news outlets such as NBC News and Fox News. With 48 percent of precincts reporting, Young has 54 percent to Bayh's 41 percent. The exit poll suggests that the margin could still narrow somewhat — but the outcome is not in serious doubt.

Bayh previously served as both governor and then senator. His father Birch Bayh was also a senator in the 1960s and 1970s, until his own defeat in 1980.

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Democrats had recruited Bayh, who had retired from the Senate in 2010, to come back and run once more. At first, this looked like a possible victory for Bayh — but things turned around after Young assailed Bayh as a consummate D.C. insider, with his post-Senate career as a lobbyist. Bayh was unable to withstand the charges, which led many to discuss his "collapse" late in October.

Bayh was also likely hurt by the selection of Gov. Mike Pence as the Republican nominee for vice president, which provided a boost to the national Republican ticket in the Hoosier State.