Following the U.S. capture of Nicolás Maduro in January 2026, Venezuela operates under an interim government led by Delcy Rodríguez, with the opposition and international actors pressing for a transition to elections. No date has been set, as U.S. officials and interim authorities prioritize institutional reforms, political pacts, media and party access, and security conditions ahead of any vote. Recent bipartisan Senate resolutions and opposition statements highlight demands for timelines, yet discussions center on multi-phase stabilization rather than immediate scheduling. Traders assign low odds to a firm announcement by late 2026 due to these sequencing priorities and the absence of verified progress on electoral infrastructure or agreements. Upcoming diplomatic talks and any opposition-government negotiations could influence movement on a schedule.