diff --git a/CHANGELOG.md b/CHANGELOG.md
index ab694d370617..f3ccd54643f7 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -44,6 +44,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ### Bug Fixes
 
+* (sims) [21906](https://github.com/cosmos/cosmos-sdk/pull/21906) Skip sims test when running dry on validators
 * (cli) [#21919](https://github.com/cosmos/cosmos-sdk/pull/21919) Query address-by-acc-num by account_id instead of id.
 
 ## [v0.50.10](https://github.com/cosmos/cosmos-sdk/releases/tag/v0.50.10) - 2024-09-20
diff --git a/x/simulation/simulate.go b/x/simulation/simulate.go
index 6af294c962ce..0e7819b65075 100644
--- a/x/simulation/simulate.go
+++ b/x/simulation/simulate.go
@@ -105,6 +105,10 @@ func SimulateFromSeed(
 
 	accs = tmpAccs
 	nextValidators := validators
+	if len(nextValidators) == 0 {
+		tb.Skip("skipping: empty validator set in genesis")
+		return true, params, nil
+	}
 
 	var (
 		pastTimes          []time.Time
@@ -243,6 +247,10 @@ func SimulateFromSeed(
 		// on the next block
 		validators = nextValidators
 		nextValidators = updateValidators(tb, r, params, validators, res.ValidatorUpdates, eventStats.Tally)
+		if len(nextValidators) == 0 {
+			tb.Skip("skipping: empty validator set")
+			return true, params, nil
+		}
 
 		// update the exported params
 		if config.ExportParamsPath != "" && int64(config.ExportParamsHeight) == blockHeight {