**Alberto Núñez Feijóo leads the "Next Prime Minister of Spain" market at 80.5% implied probability because recent polls project his center-right People's Party (PP) ahead of Pedro Sánchez’s Socialists, positioning PP for the largest seat share in the November 29 snap election and a likely governing coalition with Vox.** Sánchez called the early vote after parliament rejected his housing decrees amid nationwide protests over affordability, a migration surge in Ceuta, and coalition strains, leaving his minority government vulnerable. Traders view Feijóo’s path to forming a government as the clearest outcome under Spain’s parliamentary system, where seat projections favor a right-wing majority. Sánchez retains some chance if left-wing turnout surges on housing, while far-right Vox leader Santiago Abascal and other figures remain longshots absent major shifts before election day.