Support for Pauline Hanson's One Nation party has dropped by as much as 10 per cent in regional Queensland and 6 per cent statewide.
However, an upbeat Senator Hanson said she was 'not terribly concerned' by the results so far.
'It's very early, it's too early to call,' she told Sky News.
ABC election analyst Antony Green said: 'The story of this election at the moment is the collapse of the One Nation vote'.
Annastacia Palaszczuk is on track to claim a comfortable election victory but the result could be delayed after 20 booths stopped the vote count because of storms.
Queensland's Labor Premier is set to make history as Australia's first-ever female political leader to triumph at three elections, thanks to the support of retirees worried about COVID-19 in the state's south-east.
Adding to the drama, 20 booths have been closed because of storms.
Older Queenslanders worried about coronavirus appear to be backing Labor's border closure with the government having a massive 13 per cent primary vote swing to it in the LNP's ultra-marginal Bribie Island-based seat of Pumicestone north of Brisbane.
Labor is also ahead in the LNP-held Sunshine Coast seat of Caloundra, which the ALP has never held before, and was ahead in the Gold Coast electorate of Currumbin on the Queensland-New South Wales border.
Former Liberal National Party premier Campbell Newman told Sky News Opposition Leader Deb Frecklington was unlikely to win tonight's election and could even be vulnerable in its heartland.
More to come
