When Barack Obama became the first Black American to be elected president of the United States, many claimed that a “postracial” society had been achieved. Analogously, we predicted that the election of a first woman president—that is, a Hillary Clinton victory—would increase perceptions of gender equality in the United States. In contrast, we predicted that a Donald Trump victory would decrease perceived gender equality. Pre- and postelection data revealed that perceived gender equality indeed decreased immediately after Election Day, but only for those who preferred Clinton over Trump—thus increasing polarization between Trump and Clinton supporters on gender-related issues. In an experimental study using a fictitious election, we found that both the winner’s gender and sexism of the man candidate contributed, independently, to perceived gender inequality. These two studies demonstrate how prominent events, such as political elections, can shape people’s perceived levels of systemic inequality. Theoretical and practical implications are discussed.