**Traders assign "No" a 64.5% implied probability in the Maduro guilty of all counts market because the case remains in its early pre-trial phase with significant procedural and substantive hurdles ahead.** Nicolás Maduro and his wife Cilia Flores were captured in a U.S. military operation in January 2026 and face charges in Manhattan federal court that now include narco-terrorism conspiracy, cocaine importation, weapons offenses, and a recently added conspiracy-to-commit-torture count covering alleged repression of political opponents and U.S. citizens. Both have pleaded not guilty, and their defense has moved to dismiss the indictment on sovereign-immunity grounds, arguing the charges stem from official acts; prosecutors counter that the U.S. does not recognize Maduro as head of state and that the current Venezuelan government has not asserted immunity. The trial is set for June 2027, leaving ample time for further motions, possible plea negotiations, evidentiary disputes, or partial acquittals. The expanded indictment increases complexity without resolving core legal challenges, supporting the market's view that conviction on every count is far from assured.