Ongoing military operations between the United States and Iran since late February 2026, including strikes on nuclear and military sites, have not prompted a formal congressional declaration of war. The June 17 memorandum of understanding expired in mid-August without resolving core disputes over Iran's nuclear program and control of the Strait of Hormuz, leading both sides to resume limited strikes, naval enforcement actions, and expanded sanctions. Trader sentiment reflects the administration's preference for targeted operations and economic pressure under existing authorities rather than seeking a declaration, alongside stalled indirect talks and Iran's focus on proxy responses and shipping routes. No major votes or diplomatic summits are scheduled that would alter this trajectory in the near term.