US territorial expansion through formal annexation has not occurred in decades, reflecting entrenched diplomatic norms, congressional requirements for statehood or territorial acquisition, and strong international opposition to altering sovereign borders. Rhetoric from the current administration regarding Greenland and Canada has generated headlines but produced no legislative proposals, funding allocations, or military deployments capable of achieving annexation before year-end. European allies, including Denmark, have uniformly rejected any transfer of control, while domestic political constraints limit unilateral executive action. The absence of verifiable progress since early-year discussions reinforces trader consensus that no qualifying event will materialize in the remaining months of 2026. Late developments capable of shifting odds remain narrow, such as an unforeseen bilateral treaty ratified swiftly or an unprecedented military contingency, both viewed as remote given current alignments.