This study examined the psychological impact of global subjective appraisals of influence exerted on people's lives by common political events. A list of 24 political events was administered to a random sample of 400 adults in Poland. Political self‐efficacy, interest in politics, perceived political social support, and political collective efficacy were also assessed as potential moderators of the link between political stress appraisals and subjective well‐being (satisfaction with life, sense on anomie, positive affect). Perceptions of the negative influence of political stressors on one's life and the life of the country were associated with concomitant variations in subjective well‐being. Among psychosocial resources, political self‐efficacy consistently moderated the influence of appraisals of political stressors on satisfaction with life and positive affect.