**No state legislature has enacted a statewide data center moratorium in 2026, with the sole passed bill—Maine’s LD 307—vetoed earlier this year.** Multiple states have introduced bills targeting large facilities over 20-100 MW due to grid strain, water use, and electricity costs tied to AI-driven demand, yet most remain stalled in committee or failed as sessions ended. Traders assign 72.5% probability to “No” by December 31 because few legislatures are in session through year-end, and recent momentum favors executive pauses (New York EO 62, Oregon permit halt through July 2027, Texas audits) and local ballot measures over full legislative action. Upcoming catalysts like November local votes and 2027 sessions could shift dynamics, but the compressed timeline and preference for targeted regulation support the current market consensus on delayed or avoided statewide legislative moratoriums.