Alaska still has many postal ballots to count, and as of the evening of November 12, the vote is virtually tied. See the results here. The postal ballots have been much more favorable to Measure Two than the other ballots.
The measure makes it likely that minor party candidates will never qualify for the November ballot for Governor, U.S. Senator, or U.S. House. But it makes it easier for members of unqualified parties to get on the ballot for the legislature, because generally in legislative races there are only two or three candidates who file in the primary. And no one will need a petition to get on the primary ballot.
The measure also institutes ranked choice voting in the general election, but not the primary. The ranked choice voting in the general election extends to the presidential race.