The market's strong tilt toward 1-100 Gold Cards sold in 2026 stems from the program's sluggish implementation since its December 2025 launch under the Trump administration. Early claims by President Trump and Commerce Secretary Howard Lutnick of $1.3 billion in immediate sales contrasted sharply with subsequent disclosures of just one approval, roughly 338 applicants, and only 165 processing-fee payments by April 2026. Ongoing court filings have raised questions about processing timelines and eligibility criteria, while projections of tens of thousands of cards have yet to materialize amid vetting backlogs. These developments have shaped trader consensus around modest volumes for the remainder of the year, with limited near-term catalysts identified to accelerate uptake.