Politico has a summation of the bloodbath for the GOP establishment:
Insurgent Senate candidate Rand Paul claimed the Republican nomination for the seat of retiring Kentucky Sen. Jim Bunning Tuesday evening, easily besting establishment favorite Trey Grayson, the sitting secretary of State who won the endorsement of Senate Minority Leader Mitch McConnell.
With approximately 39 percent of precincts reporting, Paul was drawing 59 percent of the vote to Grayson's 36 percent – a yawning lead over a candidate once viewed as a sure bet for his party's nomination.
Rand Paul, the poster boy for both Tea Party and libertarianish sentiments amongst this year's GOP challengers, will be facing Kentucky state Attorney General Jack Conway on the Democratic side in November. Look for a longer piece on the meaning of Paul's victory here on Reason Online in the next 48 hours. In the meantime, read our May Reason magazine feature on the rise of Rand Paul.