Javier Milei’s intention to seek re-election in the October 2027 vote continues to anchor his market lead, yet recent national polls show his approval slipping into the mid-30s amid household economic pressures and isolated corruption allegations that have widened disapproval to nearly 60 percent. Buenos Aires governor Axel Kicillof has gained ground by consolidating Peronist factions ahead of internal primaries, positioning himself as the clearest opposition alternative in a field still marked by fragmentation. Polling volatility between March and April surveys—where Milei’s edge narrowed or briefly reversed—reflects trader caution over the three-year economic adjustment’s uneven impact on wages and public confidence. Lower-probability candidates remain sidelined by limited national organization and the absence of major recent endorsements or legislative breakthroughs that could alter the two-candidate dynamic before the 2027 campaign intensifies.