United States leads trader consensus at 69% implied probability for hosting the 2028 Copa América due to superior infrastructure, record revenue from the 2024 edition, and accelerating CONMEBOL-CONCACAF negotiations. Discussions advanced notably in June 2026 with a Miami meeting, positioning the U.S. for a third hosting in five tournaments while coordinating around the Los Angeles Olympics schedule. Ecuador remains a rotation-based contender with formal proposals but trails on facilities, while Argentina and joint bids involving Uruguay or Paraguay offer alternatives tied to 2030 World Cup preparations. Lower probabilities for Brazil and other South American nations reflect these infrastructure and commercial gaps in current market pricing.