Following Nicolás Maduro’s January 2026 capture by U.S. forces and the installation of Delcy Rodríguez as interim president, Venezuela’s political transition centers on scheduling a presidential election to fill the vacancy under constitutional rules that normally require action within 30 days after any 180-day interim period. Opposition leader María Corina Machado and allied groups have pressed for National Electoral Council renewal and a vote no later than December 2026, citing recent polling that shows strong public preference for an October–December timeframe. The National Assembly leadership has publicly ruled out near-term balloting to prioritize stability, while the Trump administration has signaled support for safeguards including Machado’s eligibility and institutional reforms before any contest. No formal announcement from electoral authorities has occurred, leaving traders focused on diplomatic talks and any emerging timetable that could shift probabilities in coming weeks.