I just got four Caucus and one Constituent badge.
I think all I did was click on the Moderator Elections link from here on Meta.
The four Caucus badges is a bug - should've been two. Two of them are now gone.
The Constituent badge would've been for the last election.
On the notification box, if you hover on the election links, you should be able to see from which election it was awarded (e.g http://stackoverflow.com/election/2)
If the links are all from different elections, there is no bug.