**Recent public statements from both leaders indicate they intend to run separately.** In mid-August 2026, Religious Zionist Party head Bezalel Smotrich told *The Jerusalem Post* that his party has no plans to ally with National Security Minister Itamar Ben-Gvir’s Otzma Yehudit for the 2026 Knesset elections and believes it can succeed independently. Ben-Gvir has similarly stated that the two parties should contest the election on separate lists. These declarations follow their 2022 joint list, which delivered 14 seats before the parties split into separate factions. Current polling shows Otzma Yehudit positioned more strongly on its own, while Smotrich’s party faces greater risk of falling below the electoral threshold without a merger. Netanyahu has previously encouraged right-wing consolidation to protect the broader bloc, but recent reporting shows both parties prioritizing independent runs amid differing internal dynamics and voter bases. Traders appear to view these explicit rejections of renewed cooperation—coupled with the parties’ separate list preparations—as the dominant signal that a joint slate is unlikely.