MLS clubs enter Leagues Cup 2026 with a 57% implied probability of claiming the title, reflecting their recent dominance and structural edges in the 36-team format. MLS sides have captured the past three editions—Inter Miami in 2023, Columbus Crew in 2024, and Seattle Sounders in 2025—with no Liga MX team reaching the final since 2021. The tournament structure plays the vast majority of Phase One and knockout matches in the United States and Canada, delivering consistent home-field and travel advantages for MLS participants selected via 2025 Supporters’ Shield standings. Current MLS form further supports the edge, as Inter Miami leads Eastern Conference metrics while Vancouver Whitecaps post league-best expected goals differentials; strong supporting casts at LAFC and Nashville add depth. Liga MX entrants, including Club América, Cruz Azul, and Toluca, bring competitive pedigrees but face tougher scheduling and recent head-to-head trends that have limited their advancement. Trader consensus thus prices MLS as the modest favorite while acknowledging the single-elimination knockout phase beginning August 25 can still produce variance.