U.S. federal prosecutors in Manhattan and Brooklyn opened investigations in early 2026 into President Gustavo Petro’s alleged ties to narcotics networks, focusing on claims that campaign donors linked to drug traffickers sought to influence extradition decisions. The DEA designated him a priority target, prompting questions of drug traffickers in custody, though no formal charges have been filed and probes remain preliminary. U.S. officials later assured Colombian counterparts that no indictment was imminent. Petro has rejected all allegations, citing prior domestic reviews that found no evidence of illicit funding. Ongoing diplomatic friction between Bogotá and Washington, combined with the early investigative stage, shapes trader assessments of whether charges could materialize by the market’s resolution date.