No major-party contenders have formally declared a 2028 presidential bid as of mid-October 2026, with only minor candidates filing FEC paperwork so far. Most potential contenders, including Vice President JD Vance and former Vice President Kamala Harris, are focusing on the November 2026 midterms and have signaled they will decide afterward, consistent with the typical timeline of announcements roughly 12–18 months before primaries. Recent polling shows Vance and Harris leading their parties’ hypothetical fields, while figures such as Gavin Newsom, Pete Buttigieg, and Ted Cruz have publicly weighed runs without committing. The 22nd Amendment bars President Trump from seeking another term, creating an open race that encourages early positioning but has not yet produced formal entries ahead of the midterms. Trader sentiment on early announcements before 2027 reflects this post-election calendar and historical precedent.