Prime Minister Anwar Ibrahim's unity government holds a parliamentary majority following the 2022 election, with the 15th Parliament set to run until automatic dissolution on December 19, 2027, triggering polls by February 2028. Trader pricing favors dissolution by June 30, 2027, at 60% implied probability, driven by coalition dynamics, state-level tests, and historical patterns of mid-term snap elections. Recent catalysts include June 2026 dissolutions of assemblies in Negeri Sembilan and Johor—governed by national coalition partners—with results due within 60 days serving as potential signals of federal stability. Anwar has publicly linked any widening internal divisions to possible early federal polls, while other states like Malacca and Sarawak face their own timelines. These factors shape crowd-sourced assessments of timing risks without assuming outcomes.