The Serbian parliamentary election on October 25 features a tight contest between the Student List—Students Win, formed by the student movement that organized nearly two years of anti-corruption protests after the 2024 Novi Sad railway station collapse, and the SNS-led United Serbia list headed by former president Aleksandar Vučić. Recent polls show the Student List between roughly 37% and 48%, with SNS close behind or slightly ahead, reflecting divided voter sentiment, opposition consolidation behind the student slate, and uncertainty over turnout among younger and previously abstaining voters. Trader probabilities cluster in the 35–45% range because the race remains highly competitive with limited time left for decisive shifts from campaign events, final polling trends, or last-minute developments in voter mobilization and registration disputes.