I would be surprised if this were the case, but there is an unconfirmed suspicion that there is a weekly reset. The thing is, that each continent tends to vary around the 0 balance mark by only 1 or 2 territories most of the time, so the appearance of being at complete balance happens fairly frequently, and looks like a reset.
Even if that's not true it still feels like it resets every day, which really sucks. Maybe they could add more regions to capture and lengthen the time it takes for regions to reset. Then the real WHAAAGH can get started.
I watch the map very carefully each week, it doesn't ever reset. But it's worth noting that with Chaos and LSM fighting constantly and Xenos having so many modifiers it can seem that way. The Eldar and Orks already start out with a bonus multiplier due to their smaller size according to Noah, so when pushes happen with them it can also seem like the maps just reset if they are on the backfoot and that stacks with the territory loss multiplier.
It can only go down to one contested territory, I think. I've seen a screenshot of that - one faction had all 16 territories, with just the one neutral territory that was being contested. I'm not sure what happens if they "lose" that too - I suspect that nothing happens, and the territory just stays contested.