Gustavo Petro completed his single four-year term as Colombia’s president on August 7, 2026, when Abelardo de la Espriella was sworn in following the May–June 2026 elections. Petro was constitutionally ineligible for re-election, and the narrow runoff victory by the conservative challenger triggered a contested transition marked by fraud allegations from Petro and his allies, a brief suspension of handover talks, and calls for protests. De la Espriella’s eventual inauguration in Cali, rather than Bogotá, underscored the shift in executive control and policy direction toward a harder line on armed groups. These events, combined with the predictable end of Petro’s mandate, shaped trader assessments of any early-exit probabilities in related date-specific markets.