As of mid-2026, no major-party candidates have launched formal 2028 presidential bids, consistent with historical patterns where announcements typically accelerate after midterm elections. Democrats are advancing primary calendar proposals through the DNC Rules and Bylaws Committee, with early-window states including South Carolina, Nevada, New Hampshire, and Michigan slated for early 2028 votes. Potential contenders such as Kamala Harris, Gavin Newsom, Gretchen Whitmer, Pete Buttigieg, and Josh Shapiro continue positioning through public appearances and exploratory activity without declarations, while Republican figures including JD Vance and others weigh options amid President Trump's second term. Trader sentiment reflects uncertainty over timing, with key catalysts including 2026 midterm results, candidate statements on intentions, and any exploratory committee formations that could shift probabilities before the 2027 threshold.