In this article, we argue that electoral context affects the projection mechanisms inherent in polling. This insight applies both to the estimation of party vote shares by pollsters and to poll-driven substantive political expectations. To test this argument, we analyse 794 in-campaign polls covering the UK's 21 post-war general elections, as well as an updated version of Jennings and Wlezien's (2018) international polling dataset. We demonstrate that the election level houses a substantial portion of the observed variance in polling error. This finding is valid across several modelling approaches and a range of measures of polling accuracy both within and beyond the UK. Within the UK, we show that the election level is a particularly important locus of variance when it comes to analysing whether polls give rise to misleading substantive expectations about election results.