U.S. District Judge Alvin Hellerstein's denial of defense motions to dismiss key drug trafficking and weapons charges in late March, followed by the postponement of the next hearing until June 30, has extended pretrial proceedings in the Southern District of New York case against Nicolás Maduro. The former Venezuelan leader and his wife, Cilia Flores, entered not guilty pleas to all counts including narco-terrorism conspiracy, cocaine importation, and machine gun possession after their January capture and transfer to U.S. custody. Traders assign an 87.5% implied probability to "No" on a full conviction because prosecutors face significant evidentiary challenges proving every allegation, particularly the terrorism nexus, amid claims of political motivation and limited historical success for narcoterrorism trials under the 2006 statute. Ongoing disputes over defense funding from Venezuelan sources and the absence of a trial date further support expectations of plea negotiations or partial outcomes rather than unanimous guilty verdicts on all charges.