Reza Pahlavi has remained in exile since 1979 and has not entered Iran despite public statements of readiness to lead a transition if the Islamic Republic collapses. The 2026 U.S.-Israel conflict and subsequent ceasefire produced no regime change, while the Trump administration has distanced itself from endorsing Pahlavi specifically as a successor. Domestic protests featuring chants for his return peaked earlier in the year but have not altered the regime's hold on power. Recent developments center on international advocacy, including his September 2026 acceptance of an Australian Coalition invitation for virtual meetings on democratic transition, underscoring diaspora-focused efforts rather than any scheduled entry. Structural barriers such as security risks, lack of internal invitation, and uncertain opposition consolidation continue to shape the low implied probability of entry by typical near-term resolution dates.