Turkish President Recep Tayyip Erdoğan and the ruling AK Party continue preparatory efforts toward a new constitution to replace the 1982 document, including a recent party commission review of draft provisions and selection of a legal team for further work. Erdoğan has publicly stated he has no plans to seek a third term after the 2028 presidential election, reducing immediate pressure for constitutional changes that could alter term limits. No official announcement of a referendum has occurred by mid-2026, and scheduled parliamentary processes plus coalition dynamics with the Nationalist Movement Party have not produced the required legislative steps or public timeline. These factors align with trader expectations that any formal referendum announcement remains unlikely before year-end, reflecting the absence of urgent electoral or institutional triggers.