The inconclusive October 27, 2026, Knesset election produced a fragmented result, with Benjamin Netanyahu’s Likud-led bloc at 53 seats and Gadi Eisenkot’s Yashar-led opposition bloc at 48 seats, both short of the 61-seat majority needed. Arab-led parties gained a record 19 seats but face exclusion from most viable coalitions due to stated red lines. President Herzog assigned Eisenkot the mandate on November 8, triggering a 28-day (extendable) window ending around mid-December, yet internal opposition divisions—particularly over minority-government structures or external support—have stalled progress. Traders price “no government formed” highest at 49 percent as the baseline outcome if the Knesset dissolves for early 2027 elections, with “other” at 32 percent reflecting uncertainty over any narrow or rotated arrangement among the listed party combinations.