Reports suggesting that the search for a third candidate has stalled, lacks money or faces insurmountable hurdles to qualifying for ballots in 50 states are inaccurate. Bill Kristol, editor of Weekly Standard and one of several Republicans driving the search, recently told this column: “Our research and groundwork show an independent bid is doable. I think someone credible will seize the moment within the next couple of weeks.” And yet the problem of finding an actual candidate has dogged the group.

There is no doubt that Sen. Ben Sasse, R-Neb., is a favorite among the third-candidate advocate...