**Trader consensus favors "No" (69.7% implied probability) primarily because most 2026 state legislative sessions have ended without passing new statewide data center moratoriums, and the remaining calendar leaves little room for fresh enactments before December 31.** New York’s July 2026 executive order (EO 62) already paused new hyperscale facilities for a year, but it predates the market window and has not triggered additional statewide legislative pauses. Oregon’s October 2026 gubernatorial directive pausing air and water permits until July 2027 is a targeted administrative action rather than a broad moratorium bill. Similar executive measures in Massachusetts and Maryland focus on reviews or community agreements instead of outright pauses. Across roughly 15 states that introduced moratorium legislation earlier in 2026, most bills stalled, failed, or were vetoed once sessions closed. Virginia’s proposed three-year moratorium and other pending measures target the January 2027 session, well after the deadline. Local city and county pauses continue to proliferate in states such as Michigan, Ohio, and North Carolina, but these do not meet the statewide threshold. Key swing factors include compressed timelines for any surprise special sessions or rapid gubernatorial action, plus industry pushback emphasizing data centers’ role in AI infrastructure, tax revenue, and job creation. With no major legislative windows or credible new proposals surfacing in the final 10 weeks, traders view additional statewide enactments as unlikely before year-end.