**A large majority of UN member states—around 157 out of 193—now formally recognize the State of Palestine following the major 2025 wave led by France, the United Kingdom, Canada, Australia, and several other European nations at a UN conference co-chaired by France and Saudi Arabia.** These moves were framed as efforts to preserve the two-state solution amid the Gaza conflict and settlement expansion. Trader odds for additional recognitions before the end of 2026 remain low for holdouts such as Italy, Japan, the Netherlands, Greece, and New Zealand, reflecting stalled diplomatic momentum, alliance alignments with the United States and Israel, and conditions tied to hostage releases, Hamas exclusion from governance, and Palestinian Authority reforms. No significant new formal recognitions have occurred in 2026, and upcoming UN sessions or follow-on initiatives have yet to generate fresh commitments from remaining Western or G7-aligned states.