Traders assign a 93.8% implied probability to “No” on Luigi Mangione facing trial before 2027 because recent developments have pushed both proceedings into 2027 or later. His August 2026 federal guilty plea on stalking charges resolved that case without a jury, while the state murder trial—originally set for September 8—was postponed after defense attorneys raised double-jeopardy arguments tied to the plea. Federal jury selection now begins January 5, 2027, with openings slated for late January. The state court’s December 10 status conference offers the main near-term catalyst, yet historical patterns and ongoing motions make a swift pre-year-end start unlikely. A surprise denial of the double-jeopardy motion could still force an expedited state trial and shift sentiment.