Putin’s consolidated authority, secured by 2020 constitutional amendments that reset term limits through 2036 and his 2024 re-election to a six-year term, underpins the 91.5 percent trader consensus against his removal as president by December 31, 2026. Recent public appearances, including his June 2026 keynote and Q&A at the St. Petersburg International Economic Forum, demonstrate ongoing leadership continuity, while his rejection of Ukrainian calls for direct talks reinforces a steady policy stance tied to the Ukraine conflict. No credible domestic opposition, elite fractures, or succession mechanisms have emerged, and analysts note the absence of institutional pressures sufficient to force an early exit before the market’s resolution date.