Ukraine’s ongoing martial law, repeatedly extended through at least October 2026, prohibits presidential elections under both statute and practical constraints including security risks, displaced voters abroad, and occupied territories. Constitutional provisions allow the incumbent to remain in office until a successor is sworn in, preserving continuity amid active conflict. Recent discussions of wartime voting, including internal proposals for autumn contests, collapsed when potential challengers declined to withdraw, while President Zelenskyy has emphasized that elections require a ceasefire first to avoid splitting the country. Polling indicates declining support and likely losses in hypothetical peacetime races, yet no credible mechanism exists for resignation, impeachment, or forced removal before year-end given institutional and wartime priorities. These structural barriers underpin trader consensus against an exit by December 2026.