Did Wisconsin Turnout Exceed the Number of Registered Voters?

A number of posts on social media have been claiming the number of votes in Wisconsin exceeds the number of registered voters. One widely circulated Facebook post has the following caption:
“BREAKING: Wisconsin has more votes than people who are registered to vote. Total number of registered voters: 3,129,000 Total number of votes cast: 3,239,920 This is direct evidence of fraud.”
This claim is false.
The number 3,129,000 comes from reported voting and registration data from the 2018 midterm election.