Short Answer

Nicolás Maduro is expected to remain Venezuela's leader through the end of 2026, with the market pricing this outcome at 83.8%.

1. Market Behavior & Drivers

This market has priced in a near-zero probability for Edmundo González leading Venezuela by the end of 2026 and has seen no trading activity. The price has remained static at 0.1% since the earliest available data points in August 2026.
The lack of movement suggests that the reported U.S. capture of Nicolás Maduro on January 3, 2026, is not viewed by market participants as an event that installs González. Since the market data begins months after Maduro's removal, the flat line and zero-volume trading indicate a consensus that whatever transition is underway, it is not expected to result in a González leadership by the resolution date.
  • Since last update (~27d): Our model increased Delcy Rodríguez's probability by +8.7pp, flipping the edge, while the market held steady.
  • Nicolás Maduro's model probability decreased by -7.7pp, flipping the edge as market sentiment rose.
  • María Corina Machado's market probability fell by -1.7pp, widening the edge, tracking a smaller model drop.
  • Nicolás Maduro appears most likely, despite his January 2026 U.S. arrest.
  • Delcy Rodríguez gained U.S. support, becoming acting president after Maduro's arrest.
  • No clear political milestones for a permanent Venezuelan leader by late 2026.

Who Wins and Why

Outcome Market Model Why
Richard Grenell 0.1% 0.1% Richard Grenell, a former Trump advisor, may be nominated for a leadership role if Trump becomes president.
Frank Donovan 0.2% 0.2% Frank Donovan, a former Trump advisor, may be nominated for a leadership role if Trump becomes president.
Pete Hegseth 0.1% 0.1% There is no plausible scenario for Pete Hegseth to become the leader of Venezuela.
Evan Pettus 0.1% 0.1% Evan Pettus, a former Trump advisor, may be nominated for a leadership role if Trump becomes president.
Dan Caine 0.1% 0.1% Dan Caine, a former Trump advisor, may be nominated for a leadership role if Trump becomes president.

Current Context

Initial reports and speculation in early 2026 suggested Nicolás Maduro had been captured and transferred to U.S. custody to face charges including narco-terrorism, drug trafficking, and weapons offenses [1][2][3][4][5]. This followed a U.S. decision in August 2025 to increase the reward for information leading to his arrest to $50 million, up from previous levels of $15 million and $25 million [6][7][8][9][10].
Following early 2026 reports of Maduro's capture and transfer, Delcy Rodríguez, the former vice president and oil minister, was reported to have assumed the role of acting president of Venezuela [11][1][12][2][3][5][13]. Sources indicated she would operate under significant U.S. influence and oversight [11][1][12]. The U.S. administration, led by President Donald Trump and Secretary of State Marco Rubio, was reported to be managing a transition process that bypassed opposition leader María Corina Machado in favor of acting government figures like Jorge Rodríguez and Dinorah Figuera [11][14][15]. Machado, who was barred from the ballot and remained in exile after escaping Venezuela in December 2025, supported U.S. military actions to remove Maduro, though President Trump publicly questioned her support base [4][16].
In the context of the reported political developments, the U.S. announced plans for oil-related actions. In January 2026, President Trump announced plans for the United States to sell 30 to 50 million barrels of Venezuelan oil, referred to as 'seized,' with the U.S. Department of Energy reportedly coordinating with acting Venezuelan authorities to facilitate sales and energy sector modernization [3][17]. On August 28, 2026, President Trump announced a proposed major U.S.-Venezuela oil deal, with the stated aim of securing U.S. control of significant oil reserves and potentially lowering domestic gas prices [18][12]. Experts remained skeptical of the immediate economic impact of this deal [18][12].
Sources (18)
  1. 1Venezuela's Post-Maduro Political Transition and U.S. Policyeverycrsreport.com
  2. 2Venezuela's Post-Maduro Political Transition and U.S. Policycongress.gov
  3. 3Venezuela Oil Sector: Context for Recent Developmentscongress.gov
  4. 4U.S. Capture of Venezuela's Nicolás Madurocongress.gov
  5. 5View TXT in new windowcongress.gov
  6. 6Trump administration doubles reward for arrest of Venezuela’s president to $50m | US news | The Guardiantheguardian.com
  7. 7US doubles reward for arrest of Venezuela’s President Maduro to $50m | Crime News | Al Jazeeraaljazeera.com
  8. 8Attorney General offers $50 million bounty for Venezuelan President | Fox Newsfoxnews.com
  9. 9U.S. increases bounty to $50M for Venezuela's Nicolas Maduro - UPI.comupi.com
  10. 10US increases reward for arrest of Venezuela's Maduro to $50 million | The Starthestar.com.my
  11. 11How Trump took control of Venezuela's democratic transitionpolitico.com
  12. 12The U.S. Venezuela oil deal won’t lower your gas prices. Here’s what you need to know: NPRnpr.org
  13. 13Venezuela: Overview of U.S. Sanctions Policycongress.gov
  14. 14Washington controls Venezuela and its money, raising questions over seized oil billions - ABC Newsabc.net.au
  15. 15Venezuela's Post-Maduro Political Transition and U.S. Policyeverycrsreport.com
  16. 16U.S. Capture of Venezuela’s Nicolás Maduro: Considerations for Congresscongress.gov
  17. 17Venezuela Oil Sector: Context for Recent Developmentscongress.gov
  18. 18Trump announces 'historic' US-Venezuela oil deal that he says will lower gas prices - ABC Newsabcnews.com

2. Price Chart

Historical Price (Probability)

Outcome probability
Date

3. Market Data

Contract Snapshot

This Kalshi market resolves to the individual officially holding the head of state position in Venezuela on December 31, 2026, at 12 PM ET. An individual "officially holds" the role if formally appointed, confirmed, and sworn in, or confirmed by official government information; temporary power assignments, unofficial capacities, or future-dated appointments do not qualify. Resolution relies primarily on official Venezuelan government sources, defaulting to the UN's Head of State list or credible reporting if unclear, or to "No Head of State" if no individual officially holds the role; in case of multiple listed heads of state, the individual with primary status or who first assumed the position will be selected.

Available Contracts

Market options and current pricing

Outcome bucket Yes (price) No (price) Last trade probability
Nicolás Maduro $0.84 $0.17 84%
Delcy Rodríguez $0.11 $0.90 10%
María Corina Machado $0.02 $0.98 2%
No Head of State $0.01 $0.99 1%
Edmundo González $0.00 $1.00 0%
Diosdado Cabello Rondón $0.00 $1.00 0%
Frank Donovan $0.00 $1.00 0%
Jorge Rodríguez $0.00 $1.00 0%
Dan Caine $0.00 $1.00 0%
Dinorah Figuera $0.00 $1.00 0%
Donald Trump $0.00 $1.00 0%
Evan Pettus $0.00 $1.00 0%
Marco Rubio $0.00 $1.00 0%
Pete Hegseth $0.00 $1.00 0%
Richard Grenell $0.00 $1.00 0%
Vladimir Padrino López $0.00 $1.00 0%
Leader 1 $1.00 $1.00 0%
Leader 10 $1.00 $1.00 0%
Leader 11 $1.00 $1.00 0%
Leader 12 $1.00 $1.00 0%
Leader 13 $1.00 $1.00 0%
Leader 14 $1.00 $1.00 0%
Leader 15 $1.00 $1.00 0%
Leader 16 $1.00 $1.00 0%
Leader 17 $1.00 $1.00 0%
Leader 18 $1.00 $1.00 0%
Leader 19 $1.00 $1.00 0%
Leader 2 $1.00 $1.00 0%
Leader 20 $1.00 $1.00 0%
Leader 21 $1.00 $1.00 0%
Leader 22 $1.00 $1.00 0%
Leader 23 $1.00 $1.00 0%
Leader 24 $1.00 $1.00 0%
Leader 25 $1.00 $1.00 0%
Leader 26 $1.00 $1.00 0%
Leader 27 $1.00 $1.00 0%
Leader 28 $1.00 $1.00 0%
Leader 29 $1.00 $1.00 0%
Leader 3 $1.00 $1.00 0%
Leader 30 $1.00 $1.00 0%
Leader 31 $1.00 $1.00 0%
Leader 32 $1.00 $1.00 0%
Leader 33 $1.00 $1.00 0%
Leader 34 $1.00 $1.00 0%
Leader 35 $1.00 $1.00 0%
Leader 36 $1.00 $1.00 0%
Leader 37 $1.00 $1.00 0%
Leader 38 $1.00 $1.00 0%
Leader 39 $1.00 $1.00 0%
Leader 4 $1.00 $1.00 0%
Leader 40 $1.00 $1.00 0%
Leader 5 $1.00 $1.00 0%
Leader 6 $1.00 $1.00 0%
Leader 7 $1.00 $1.00 0%
Leader 8 $1.00 $1.00 0%
Leader 9 $1.00 $1.00 0%
Other $1.00 $1.00 0%

Market Discussion

Traders on Polymarket overwhelmingly predict Nicolás Maduro will remain Venezuela's head of state by the end of 2026, with an 83.5% probability. This strong consensus is based on the market's resolution rules emphasizing formal recognition, even if Maduro were hypothetically captured, as the regime's interim arrangements for Delcy Rodríguez (11% probability) are viewed as preserving rather than replacing Maduro's presidency. The market context highlights slow political change, ongoing talks focusing on reforms instead of immediate elections, and the sidelining of key opposition figures, all reinforcing the high likelihood of Maduro retaining formal recognition.

4. Trust Index

Octagon Trust Index Polymarket 60 Caution

Official decision: one office decides and holds the answer before the public

Integrity risk· Information exposure

How it adds up
Integrity80% of score54Caution
Trade quality20% of score82Good
Trust score60Caution

Weighted blend with hard caps — a critically weak safety pillar, or a severe trading anomaly, caps the total regardless of the rest. Full methodology · About the Trust Index

Trust profile
Integrity5 screens run · 2 don't apply · 3 awaiting data

5. What political milestones are required for the Trump administration to formally recognize a permanent Venezuelan leader by the end of 2026?

Rodríguez State Dept. RecognitionMarch 5, 2026 [1][2][3][4]
Permanent Leader RecognitionNo defined political milestones or constitutional deadlines by end of 2026 [5]
Maduro Official Leader StatusHigh consensus in prediction markets to remain official leader by year-end 2026 [6][7][8]
As of late 2026, no clear political milestones exist for permanent Venezuelan leader recognition. There are no clearly defined political milestones or constitutional deadlines for the Trump administration to formally recognize a permanent Venezuelan leader by the end of 2026. The Venezuelan Supreme Court has deliberately avoided classifying the presidential vacancy as either temporary or permanent, leaving the legal situation in a state of flux [5]. The available facts do not specify any political milestones required for a transition to a permanent leader during this period [5].
Delcy Rodríguez became interim president with temporary U.S. support. Following the U.S. capture of Nicolás Maduro on January 3, 2026, Delcy Rodríguez assumed power as acting president of Venezuela with U.S. backing. She was formally recognized by the State Department as head of state on March 5, 2026 [1][2][3][4]. The Trump administration has publicly indicated that its support for Rodríguez is temporary and pragmatic, primarily aimed at achieving stabilization and encouraging investment in the oil sector [2][9][10][11].
Nicolás Maduro is still widely expected to be Venezuela's official leader. Despite Nicolás Maduro's physical detention, prediction markets show a high consensus that he will still be considered the official leader of Venezuela by year-end 2026. This expectation is attributed to specific, legalistic market resolutions that prioritize official state title over de facto governing power [6][7][8].
Sources (11)
  1. 1Trump seeks immunity for Venezuela's Delcy Rodríguezmiamiherald.com
  2. 2Venezuela's Post-Maduro Political Transition and U.S. Policyeverycrsreport.com
  3. 3Trump says US is taking partial control of Venezuela's vast oil reserves | Reutersreuters.com
  4. 4What’s behind the US deal to seize control of Venezuelan oil reserves? | Donald Trump News | Al Jazeeraaljazeera.com
  5. 5Delcy Rodríguez, three months as president of Venezuela under Trump’s watchful eye | International | EL PAÍS Englishenglish.elpais.com
  6. 6Venezuela leader end of 2026? | Kalshi UK [79% Yes]kalshi-uk.co.uk
  7. 7Venezuela leader end of 2026? | Trump Prediction [79% Yes]trump-prediction.bet
  8. 8Will Nicolás Maduro Still Lead Venezuela by End of 2026?lines.com
  9. 9https://polymarket.com/event/will-trump-endorse-mara-corina-machado-for-venezuela-president-in-2026-314polymarket.com
  10. 10President Donald Trump says US Venezuela involvement could last years | Fox Newsfoxnews.com
  11. 11US won’t let Delcy Rodriguez run Venezuela long-term, Rubio pledgesnypost.com

6. What evidence from U.S. diplomatic statements and Venezuelan state media confirms Delcy Rodríguez's grip on power will remain stable through the end of 2026?

U.S. Administration SupportTrump administration explicitly backs Rodríguez as a pragmatic partner [1][2][3]
Rodríguez's Presidential TermActing president since January 2026 [1][4][1][5][6][2]
Significant Oil AgreementAugust 2026 oil deal granted U.S. majority control of reserves [4][1][5][6][2]
U.S. policy signals support for Delcy Rodríguez's stable leadership. The Trump administration explicitly backed Delcy Rodríguez as a pragmatic partner to stabilize Venezuela's economy and open its oil sectors to U.S. investment [1][2][3]. Since becoming Venezuela's acting president in January 2026, Rodríguez has actively employed various domestic strategies to maintain her grip on power [1][4][5][6].
The U.S. employs 'coercive negotiation' to shape Venezuelan policy. This strategy utilizes economic leverage and the threat of political repercussions to guide Rodríguez toward institutional reforms [4][7]. A significant outcome of this approach was the August 2026 oil deal, which granted the U.S. majority control of oil reserves and addressed a key reform demand balanced by Rodríguez [2][4][1][5][6]. These actions indicate a U.S. strategy focused on collaborating with Rodríguez in her current role rather than seeking her immediate replacement.
Rodríguez actively manages domestic dynamics to maintain power. From an internal Venezuelan perspective, she secures her position by balancing U.S. demands with internal survival strategies [4][1][5][6][2]. These strategies include cultivating support from the PSUV/Chavista base and maneuvering against internal threats. Following criticism over the August 2026 oil agreement, Delcy Rodríguez delivered a televised address, publicly engaging with and defending her decisions as president [6].
Sources (7)
  1. 1Venezuela's Post-Maduro Political Transition and U.S. Policycongress.gov
  2. 2What’s behind the US deal to seize control of Venezuelan oil reserves? | Donald Trump News | Al Jazeeraaljazeera.com
  3. 3Venezuelans bash their government's deal handing over vast oil reserves to the U.S. | Fortunefortune.com
  4. 4Venezuela’s Opposition Looks to Topple Rodriguez Without Trump’s Helpforeignpolicy.com
  5. 5How Delcy Rodríguez Went From Maduro Loyalist to Trump Proxytime.com
  6. 6Delcy Rodríguez breaks her silence following criticism over the oil agreement with the U.S.: This is how her televised address has beenen.cibercuba.com
  7. 7“It’s Very Likely That a Different Party System Will Emerge in Venezuela” | Caracas Chroniclescaracaschronicles.com

7. How do Delcy Rodríguez and opposition leader María Corina Machado compare in terms of U.S. support and domestic political influence following Maduro's removal?

Acting PresidentDelcy Rodríguez (as of August 2026) [1][2][3][4][5][6][7][8][9][10]
Maduro's Removal DateJanuary 3, 2026 [1][2][5][11]
U.S. Oil AgreementSecured by Rodríguez in late August 2026 [1][2][7][8][4][9][10]
Delcy Rodríguez gained U.S. support, becoming Venezuela's acting president. Following the U.S. arrest of Nicolás Maduro, Delcy Rodríguez assumed the role of acting president of Venezuela on January 3, 2026, with explicit backing from the Trump Administration [1][2][5][11]. As of August 2026, Rodríguez remains the acting president, demonstrating her continued domestic political influence within the government structure [1][2][3][4][6][5][11][7][8][9][10]. In late August 2026, Rodríguez secured a major, controversial agreement, granting the U.S. significant access to Venezuelan oil reserves in exchange for economic cooperation [1][2][7][8][4][9][10].
Opposition leaders have been sidelined from key U.S.-backed negotiations. In contrast, opposition leader María Corina Machado and 2024 election winner Edmundo González Urrutia have been sidelined by the Trump Administration and excluded from ongoing negotiations [1][2][3][4][6][5]. These negotiations are currently focused on institutional and judicial reforms rather than an immediate transition of power [1][2][3][4][6][5].
Sources (11)
  1. 1Venezuela's Post-Maduro Political Transition and U.S. Policyeverycrsreport.com
  2. 2Venezuela’s Opposition Looks to Topple Rodriguez Without Trump’s Helpforeignpolicy.com
  3. 3Is Venezuela’s transition beginning under Washington’s script? - GZERO Mediagzeromedia.com
  4. 4Venezuela’s future is being decided in a new negotiation under Washington’s watch | International | EL PAÍS Englishenglish.elpais.com
  5. 5Venezuela's Post-Maduro Political Transition and U.S. Policycongress.gov
  6. 6A new chapter? Venezuela's government holds talks...aljazeera.com
  7. 7Venezuela talks end with agreement on judicial reform and frozen funds - France 24france24.com
  8. 8Trump says US is taking partial control of Venezuela's vast oil reserves | Reutersreuters.com
  9. 9Venezuelans bash their government's deal handing over vast oil reserves to the U.S. | Fortunefortune.com
  10. 10Delcy Rodríguez breaks her silence following criticism over the oil agreement with the U.S.: This is how her televised address has beenen.cibercuba.com
  11. 11Venezuela’s interim leader navigates U.S. demands, Chavista loyalty: NPRnpr.org

8. What is the current stance of Venezuela's military leadership, particularly Vladimir Padrino López, regarding Delcy Rodríguez's acting presidency?

Padrino López removed from Defense MinisterMarch 18, 2026 [1][2][3][4][5]
New Defense MinisterGeneral Gustavo González López [1][2][3][4][5]
Delcy Rodríguez acting presidency statusContinues as of August 31, 2026 [1][3][6][7]
Venezuelan military leader Vladimir Padrino López was removed from his defense role. General Vladimir Padrino López, a significant supporter of the ousted Nicolás Maduro, was dismissed as Venezuela's Minister of Defense by Delcy Rodríguez on March 18, 2026, and replaced by General Gustavo González López [1][2][3][4][5]. The available information does not explicitly detail Padrino López's current stance regarding Delcy Rodríguez's acting presidency following his removal.
Information on the military's broader stance is not available. The provided research does not contain sufficient information to describe the current stance of Venezuela's military leadership more broadly concerning Delcy Rodríguez's acting presidency. Delcy Rodríguez continues to serve as acting president as of August 31, 2026, despite her constitutional 180-day term having technically expired in early July 2026 [1][3][6][7].
Sources (7)
  1. 1Venezuela’s Opposition Looks to Topple Rodriguez Without Trump’s Helpforeignpolicy.com
  2. 2Venezuela's acting president replaces long-time defense...reuters.com
  3. 3Venezuela's Post-Maduro Political Transition and U.S. Policyeverycrsreport.com
  4. 4Vladimir Padrino Lópezen.wikipedia.org
  5. 5Venezuela's interim president Rodriguez sacks defense...lemonde.fr
  6. 6Venezuela talks end with agreement on judicial reform and frozen funds - France 24france24.com
  7. 7Delcy Rodríguez remains Venezuela's acting president after 90-day term expired | AP Newsapnews.com

9. How might the execution of the August 2026 U.S.-Venezuela oil deal impact the stability of Delcy Rodríguez's interim government?

Expected Taxes from Deal$209 billion [1][2][3][4]
Oil Reserves Controlled by US65 billion barrels [1][2][3][5]
Maduro's Prediction Market Favorability80-84% by end of 2026 [6][7][8]
Delcy Rodríguez frames the August 2026 U.S.-Venezuela oil deal as an economic revival. As interim president, Rodríguez has presented the agreement as a historic revival for the Venezuelan economy, anticipating $209 billion in tax generation [1][2][3][4]. The deal involves a joint venture between a private Venezuelan company and the U.S. government, granting the United States majority control over 65 billion barrels of Venezuela's oil reserves for a duration of 25 to 100 years [1][2][3][5].
Rodríguez's interim government faces significant political instability despite the deal. Her tenure as interim president is politically fragile, as she continues to serve beyond the constitutionally mandated 90-day limit under a Supreme Court injunction, widely seen as a proxy for U.S. interests [9][10][11][4]. Prediction markets as of August 31, 2026, overwhelmingly favor Nicolás Maduro (80-84%) to be recognized as Venezuela's leader by the end of 2026, in contrast to Delcy Rodríguez (10-17%) [6][7][8]. These indicators suggest the oil deal has not significantly bolstered confidence in the stability of her interim government.
Sources (11)
  1. 1What we know about new US-Venezuela oil dealapnews.com
  2. 2Venezuela's interim president says US energy deal will last...reuters.com
  3. 3Trump Says U.S. Struck Deal for Control of More Than 65...nytimes.com
  4. 4How Delcy Rodríguez Went From Maduro Loyalist to Trump Proxytime.com
  5. 5What’s behind the US deal to seize control of Venezuelan oil reserves? | Donald Trump News | Al Jazeeraaljazeera.com
  6. 6https://polymarket.com/event/venezuela-leader-end-of-2026polymarket.com
  7. 7Who will officially lead Venezuela at the end of 2026?kalshi.com
  8. 8Who will lead Venezuela at the end of 2026?predictionhunt.com
  9. 9Delcy Rodríguez remains Venezuela's acting president after 90-day term expired | AP Newsapnews.com
  10. 10Venezuela’s interim leader navigates U.S. demands, Chavista loyalty: NPRnpr.org
  11. 11Delcy Rodríguez, three months as president of Venezuela...english.elpais.com

10. What Could Change the Odds

Key Catalysts

Nicolás Maduro was captured and arrested by U.S. forces in January 2026 and is currently awaiting trial in the United States [1][2][3][4][5][6]. His vice president, Delcy Rodríguez, is serving as the acting president of Venezuela and remained so as of August 31, 2026 [1][3][4]. The Trump administration sidelined popular opposition leader María Corina Machado, opting instead to support a dialogue and transition process involving Dinorah Figuera and National Assembly President Jorge Rodríguez [7][8][3][4]. Machado and apparent 2024 election winner Edmundo González Urrutia are in exile as of August 31, 2026 [3][4].
In late August 2026, the U.S. and the Delcy Rodríguez-led Venezuelan government announced a "historic" oil deal [9][10][11][12]. This agreement grants the U.S. a majority stake (55%) in the development of 17 strategic oil fields with an estimated potential of 65 billion barrels [9][10][11]. On June 24, 2026, two massive earthquakes in Venezuela caused over 6,100 deaths, which complicated ongoing political stabilization efforts and U.S.-supported recovery initiatives [3].
As of August 31, 2026, prediction markets such as Polymarket and Kalshi assign a high probability, approximately 82-84%, to Nicolás Maduro still being officially recognized as the head of state of Venezuela at the end of 2026 [13][14][15]. This outlook is largely attributed to the specific legal and technical definitions these markets use for "official head of state" [13][14][15].

Key Dates & Catalysts

  • Closes: December 31, 2026
Sources (15)
  1. 1Venezuela's Post-Maduro Political Transition and U.S. Policyeverycrsreport.com
  2. 2US-Iran Peace Prospects Dim as Trump Rejects Truce Extension | Bloomberg Businessweekyoutube.com
  3. 3Venezuela's Post-Maduro Political Transition and U.S. Policycongress.gov
  4. 4View TXT in new windowcongress.gov
  5. 5U.S. Capture of Venezuela’s Nicolás Maduro: Considerations for Congresscongress.gov
  6. 6Venezuela: Overview of U.S. Sanctions Policycongress.gov
  7. 7How Trump took control of Venezuela's democratic transitionpolitico.com
  8. 8Washington controls Venezuela and its money, raising questions over seized oil billions - ABC Newsabc.net.au
  9. 9The U.S. Venezuela oil deal won’t lower your gas prices. Here’s what you need to know: NPRnpr.org
  10. 10Trump says US is taking partial control of Venezuela's vast oil reserves | Reutersreuters.com
  11. 11What we know about Trump's deal giving US access to vast oil reserves in Venezuelaksat.com
  12. 12Trump announces 'historic' US-Venezuela oil deal that he says will lower gas prices - ABC Newsabcnews.com
  13. 13Venezuela leader end of 2026? Predictions & Oddspolymarket.com
  14. 14Who will officially lead Venezuela at the end of 2026?kalshi.com
  15. 15Venezuela leader end of 2026? — Odds & Charts | Prescientprescient.markets