diff --git a/.changelog/unreleased/state-breaking/2855-migrate-min-commission-rate.md b/.changelog/unreleased/state-breaking/2855-migrate-min-commission-rate.md
new file mode 100644
index 00000000000..f8706e9e616
--- /dev/null
+++ b/.changelog/unreleased/state-breaking/2855-migrate-min-commission-rate.md
@@ -0,0 +1,7 @@
+Migrate min commission rate migration rate staking parameter to 5%
+ ([prop 826](https://www.mintscan.io/cosmos/proposals/826))
+ and updates the commission rate for all validators that have a commission
+ rate less than 5% ([\#2855](https://github.com/cosmos/gaia/pull/2855))
+
+
+
diff --git a/app/upgrades/v15/upgrades.go b/app/upgrades/v15/upgrades.go
index ee9c0b485d4..b14797dfeda 100644
--- a/app/upgrades/v15/upgrades.go
+++ b/app/upgrades/v15/upgrades.go
@@ -3,6 +3,7 @@ package v15
 import (
 	sdk "github.com/cosmos/cosmos-sdk/types"
 	"github.com/cosmos/cosmos-sdk/types/module"
+	stakingkeeper "github.com/cosmos/cosmos-sdk/x/staking/keeper"
 	upgradetypes "github.com/cosmos/cosmos-sdk/x/upgrade/types"
 
 	"github.com/cosmos/gaia/v15/app/keepers"
@@ -21,7 +22,38 @@ func CreateUpgradeHandler(
 			return vm, err
 		}
 
-		ctx.Logger().Info("Upgrade complete")
+		UpgradeMinCommissionRate(ctx, *keepers.StakingKeeper)
+
+		ctx.Logger().Info("Upgrade v15 complete")
 		return vm, err
 	}
 }
+
+// UpgradeMinCommissionRate sets the minimum commission rate staking parameter to 5%
+// and updates the commission rate for all validators that have a commission rate less than 5%
+// adhere to prop 826 which sets the minimum commission rate to 5% for all validators
+// https://www.mintscan.io/cosmos/proposals/826
+func UpgradeMinCommissionRate(ctx sdk.Context, sk stakingkeeper.Keeper) {
+	ctx.Logger().Info("Migrating min commission rate...")
+
+	params := sk.GetParams(ctx)
+	params.MinCommissionRate = sdk.NewDecWithPrec(5, 2)
+	err := sk.SetParams(ctx, params)
+	if err != nil {
+		panic(err)
+	}
+
+	for _, val := range sk.GetAllValidators(ctx) {
+		if val.Commission.CommissionRates.Rate.LT(sdk.NewDecWithPrec(5, 2)) {
+			// set the commission rate to 5%
+			val.Commission.CommissionRates.Rate = sdk.NewDecWithPrec(5, 2)
+			// set the max rate to 5% if it is less than 5%
+			if val.Commission.CommissionRates.MaxRate.LT(sdk.NewDecWithPrec(5, 2)) {
+				val.Commission.CommissionRates.MaxRate = sdk.NewDecWithPrec(5, 2)
+			}
+			val.Commission.UpdateTime = ctx.BlockHeader().Time
+			sk.SetValidator(ctx, val)
+		}
+	}
+	ctx.Logger().Info("Finished migrating min commission rate")
+}
diff --git a/app/upgrades/v15/upgrades_test.go b/app/upgrades/v15/upgrades_test.go
new file mode 100644
index 00000000000..b381be91009
--- /dev/null
+++ b/app/upgrades/v15/upgrades_test.go
@@ -0,0 +1,63 @@
+package v15_test
+
+import (
+	"testing"
+
+	"github.com/stretchr/testify/require"
+
+	tmrand "github.com/cometbft/cometbft/libs/rand"
+	tmproto "github.com/cometbft/cometbft/proto/tendermint/types"
+
+	"github.com/cosmos/cosmos-sdk/crypto/keys/ed25519"
+	sdk "github.com/cosmos/cosmos-sdk/types"
+	stakingtypes "github.com/cosmos/cosmos-sdk/x/staking/types"
+
+	"github.com/cosmos/gaia/v15/app/helpers"
+	v15 "github.com/cosmos/gaia/v15/app/upgrades/v15"
+)
+
+func TestUpgradeMinCommissionRate(t *testing.T) {
+	gaiaApp := helpers.Setup(t)
+	ctx := gaiaApp.NewUncachedContext(true, tmproto.Header{})
+
+	// set min commission rate to 0
+	stakingParams := gaiaApp.StakingKeeper.GetParams(ctx)
+	stakingParams.MinCommissionRate = sdk.ZeroDec()
+	err := gaiaApp.StakingKeeper.SetParams(ctx, stakingParams)
+	require.NoError(t, err)
+
+	stakingKeeper := gaiaApp.StakingKeeper
+	valNum := len(stakingKeeper.GetAllValidators(ctx))
+
+	// create 3 new validators
+	for i := 0; i < 3; i++ {
+		pk := ed25519.GenPrivKeyFromSecret([]byte{uint8(i)}).PubKey()
+		val, err := stakingtypes.NewValidator(
+			sdk.ValAddress(pk.Address()),
+			pk,
+			stakingtypes.Description{},
+		)
+		require.NoError(t, err)
+		// set random commission rate
+		val.Commission.CommissionRates.Rate = sdk.NewDecWithPrec(tmrand.Int63n(100), 2)
+		stakingKeeper.SetValidator(ctx, val)
+		valNum++
+	}
+
+	validators := stakingKeeper.GetAllValidators(ctx)
+	require.Equal(t, valNum, len(validators))
+
+	// pre-test min commission rate is 0
+	require.Equal(t, stakingKeeper.GetParams(ctx).MinCommissionRate, sdk.ZeroDec(), "non-zero previous min commission rate")
+
+	// run the test and confirm the values have been updated
+	v15.UpgradeMinCommissionRate(ctx, *stakingKeeper)
+
+	newStakingParams := stakingKeeper.GetParams(ctx)
+	require.NotEqual(t, newStakingParams.MinCommissionRate, sdk.ZeroDec(), "failed to update min commission rate")
+	require.Equal(t, newStakingParams.MinCommissionRate, sdk.NewDecWithPrec(5, 2), "failed to update min commission rate")
+
+	for _, val := range stakingKeeper.GetAllValidators(ctx) {
+		require.True(t, val.Commission.CommissionRates.Rate.GTE(newStakingParams.MinCommissionRate), "failed to update update commission rate for validator %s", val.GetOperator())
+	}
+}