diff --git a/CHANGELOG.md b/CHANGELOG.md
index 7b1f4793636d..096a17085f4b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -55,6 +55,8 @@ Every module contains its own CHANGELOG.md. Please refer to the module you are i
 
 ### Bug Fixes
 
+* (sims) [21906](https://github.com/cosmos/cosmos-sdk/pull/21906) Skip sims test when running dry on validators
+
 ### API Breaking Changes
 
 * (types/mempool) [#21744](https://github.com/cosmos/cosmos-sdk/pull/21744) Update types/mempool.Mempool interface to take decoded transactions. This avoid to decode the transaction twice.
diff --git a/x/simulation/simulate.go b/x/simulation/simulate.go
index faf69e1df4db..3cd8c5c4f66e 100644
--- a/x/simulation/simulate.go
+++ b/x/simulation/simulate.go
@@ -130,6 +130,10 @@ func SimulateFromSeedX(
 		return blockedAddrs[acc.AddressBech32]
 	})
 	nextValidators := validators
+	if len(nextValidators) == 0 {
+		tb.Skip("skipping: empty validator set in genesis")
+		return params, accs, nil
+	}
 
 	var (
 		pastTimes          []time.Time
@@ -264,6 +268,10 @@ func SimulateFromSeedX(
 		// 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 exportedParams, accs, err
+		}
 
 		// update the exported params
 		if config.ExportParamsPath != "" && int64(config.ExportParamsHeight) == blockHeight {