**Traders assign a 91% probability to “No” for a visible joint appearance by Trump, Putin, and Zelensky before 2027 because sustained bilateral diplomacy has not produced the conditions for a trilateral meeting or public photo opportunity.** Recent G7 contacts in June 2026 featured Trump meeting Zelenskyy in France and holding separate phone calls with both leaders, yet Putin and Zelenskyy continue to reject direct talks, with Russia demanding Moscow and Ukraine insisting on neutral venues such as Turkey or the United States. Trump has publicly noted the leaders’ mutual dislike as a major obstacle, while Zelenskyy’s proposal for a U.S.-hosted trilateral remains unconfirmed and faces the same procedural and trust barriers that have kept the two presidents from meeting since 2022. Ongoing Geneva-style negotiations and U.S. envoy involvement have produced no breakthrough that would make a high-profile three-way appearance feasible in the remaining months of 2026.