Do perceptual states necessarily constitute evidence epistemically supporting corresponding perceptual beliefs? Susanna Schellenberg thinks so. She argues that perceptual states, veridical or not, necessarily provide (or constitute) a kind of evidence (for the existence of the truth-maker) supporting corresponding perceptual beliefs. She uses “phenomenal evidence” as a label for this kind of evidence and calls her argument “The Phenomenal Evidence Argument.” Having introduced her project, we offer a reconstruction of Schellenberg’s argument (Sect. 2 ). A key premise has it that, (...) necessarily, for items with a function, fulfillment of the function (the good case) is explanatorily and metaphysically prior to function failure (the bad case). We suggest that the etiological theory of functions renders this key premise plausible (Sect. 3 ). However, Schellenberg rejects the etiological theory of functions (Sect. 4 ) and likewise the idea that the epistemic or warranting force of perceptual states is grounded in their being reliably linked to veridical perception (Sect. 5 ). But then what supports the key premise? Schellenberg argues that accurate perception is a part of the _nature_ of perceptual capacities because the nature of perceptual capacities is explained in terms of their function, and their function is to represent accurately (Sect. 6 ). We suggest that Schellenberg is committed to an understanding of priority which doesn’t require any _actual_ good cases—just possible ones (Sect. 7 ). This reading, we argue, is too weak to support the key premise (Sect. 8 ). Given Schellenberg’s commitments, it is not necessarily the case that perceptual states are evidence for a corresponding perceptual belief. Before concluding we discuss an overgeneralization objection to Schellenberg’s argument (Sect. 9 ). (shrink)