The Palmer United Party won't run in the Brisbane seat vacated by former prime minister Kevin Rudd because it wants to focus on a possible fresh election in Western Australia.
Clive Palmer says he wants to give the WA contest his full attention.
He believes his party will secure two Senate spots in a fresh contest there.
"This is a great opportunity to join the balance of power," the party leader told reporters in Brisbane on Friday.
"This is a great opportunity for Western Australia to stand up for itself."
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The High Court has yet to decide the fate of the candidates in the original senate election in WA, which was tainted by the loss of 1370 ballots.
