Iran's presidential term follows a fixed four-year cycle under the constitution, with the next scheduled vote in 2028 after Masoud Pezeshkian's 2024 election. No snap election has been called despite the March 2026 Supreme Leader transition and earlier regional conflict, as institutional continuity and procedural requirements have kept the calendar intact. Recent Interior Ministry discussions on aligning the presidential vote with parliamentary elections remain proposals without formal action or Guardian Council approval. Trader consensus reflects these structural timelines and the absence of resignation, incapacitation, or constitutional triggers that would advance the date, with low implied probabilities for any vote before late 2026 or early 2027. Upcoming parliamentary or local election scheduling could indirectly influence timing if combined, though no firm decisions have altered the outlook.