**Ongoing martial law in Ukraine, extended through October 31, 2026, continues to bar presidential elections under Ukrainian law, while the constitution extends the incumbent's term until a successor is sworn in.** Zelenskyy has stated he would run if wartime elections occur, but only after a verifiable 60-day ceasefire to enable security measures, legislative changes, and voting by military personnel—conditions Russia has rejected. Recent U.S. pressure for a vote has not altered these barriers, with no ceasefire or peace agreement in place as of late October 2026. Public opinion in Ukraine also favors delaying elections until after hostilities end. These structural and security constraints underpin trader consensus that Zelenskyy will remain president through year-end.