Statehood comes with a number of privileges territories don’t. Basically, you get to participate in elections. Each state, regardless of size, gets 2 senators. You also get a certain amount of representatives in congress which is determined by your state’s population. Whatever that number is, you also get the same number of electors in the electoral college, which are effectively “points” in the presidential election. Territories don’t get any of that. It’s citizens are US citizens so they get the protections and entitlements of other citizens but they don’t get to vote in federal elections.
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