Delcy Rodríguez holds a commanding position as Venezuela’s acting president following the January 2026 U.S. capture of Nicolás Maduro, with the Supreme Court directing her to assume executive authority for institutional continuity. Her brother Jorge Rodríguez leads the National Assembly, while security forces and the PSUV party structure have aligned behind her amid cabinet adjustments and U.S.-backed reconciliation talks that have produced prisoner releases and judicial reforms. Washington has provided sanctions relief and engaged directly on energy and stabilization, reinforcing trader consensus around her de facto control through year-end. Opposition figures such as María Corina Machado remain sidelined in exile despite recent coalition agreements. Late developments including accelerated election timelines, internal security shifts, or major diplomatic reversals could still change the outcome before December 31.