President Trump’s September 2026 trilateral security agreement with Denmark and Greenland expanded U.S. military basing rights, access, and veto authority over adversary investments while explicitly preserving Danish sovereignty and Greenlandic self-determination. Danish and Greenlandic leaders have repeatedly rejected any sale or territorial transfer, citing constitutional requirements, public opposition, and the need for parliamentary ratification in Copenhagen and Nuuk. No formal purchase negotiations or sovereignty transfer process has advanced since early 2026 threats, leaving roughly two months before the 2027 deadline. Traders therefore price near-certain failure absent an improbable last-minute reversal by Greenland or Denmark. Late diplomatic breakthroughs, a Greenland independence vote followed by U.S. negotiations, or unexpected legislative action could still shift the outcome, though such paths remain structurally constrained by alliance dynamics and consent rules.