Ongoing U.S.-Iran hostilities, marked by repeated air and missile exchanges since early 2026 and a collapsed June memorandum of understanding, have centered on strikes against Iranian military targets, the Strait of Hormuz, and economic pressure rather than ground operations. As of early September 2026, the latest tit-for-tat incidents involved U.S. strikes on IRGC assets and Iranian responses, with President Trump emphasizing naval control, sanctions, and regime economic strain over territorial incursions. Military analyses consistently highlight the prohibitive scale, risks, and troop requirements of any mainland invasion, while diplomatic channels and limited deconfliction efforts persist amid stalled nuclear talks. These patterns support trader expectations that full-scale invasion remains unlikely before 2027.