No it’s 1/2 of participating voters. They have slightly more because they are unified and Dems are not. Dems are a very loose coalition of groups that may or may not vote together depending on the issues at hand.

In the 2024 presidential election, 73.6% (or 174 million people) registered to vote and 65.3% (or 154 million people) voted. U.S. Census Bureau. 47% have declared a party affiliation. As of September 2024, 36 million voters are registered Republicans and 45.1 million are registered Democrats.

In 2024 89,278,948 people did not vote.