Following Nicolás Maduro’s capture by U.S. forces in early January 2026, interim President Delcy Rodríguez has pledged to organize presidential elections as part of a broader transition, yet no date or electoral council reforms have been formally announced. Opposition figures, including María Corina Machado, continue pressing for National Electoral Council restructuring and a vote before year-end to meet constitutional timelines for filling a presidential vacancy. Recent polls indicate strong public preference for an October–December 2026 contest, while the National Assembly has signaled against immediate polling. U.S. engagement, including partial sanctions relief tied to democratic milestones and prisoner releases, adds external pressure on scheduling. These unresolved procedural and institutional steps remain the dominant influences on trader assessments of when a firm election date will emerge.