Marine Le Pen maintains the highest implied probability in trader consensus for the 2027 French presidential election, reflecting her consistent first-round polling lead of 31-36% across recent Ifop, Harris Interactive, and other surveys through late September. This positions her well ahead of Édouard Philippe and Jean-Luc Mélenchon, who compete for second place in fragmented scenarios, with Philippe edging ahead in some configurations tested around September 25-29. Polarization between the National Rally and left-wing options, combined with a weakened center, sustains these dynamics ahead of the April first round and potential May runoff, where Le Pen has shown stronger projected margins. Philippe's second-place pricing incorporates center-right consolidation efforts, while Mélenchon's share tracks his hard-left base amid ongoing economic and fiscal pressures. No major shifts have altered these standings in the immediate past week.