Spain’s snap general election on 29 November 2026 follows Prime Minister Pedro Sánchez’s October dissolution of parliament after the government lost key votes. Polls show a polarized contest in which the PP and Vox bloc holds a consistent lead for an absolute majority, while PSOE and allied parties mobilize their base. This contest structure, combined with the surprise timing, a larger census including over 1.6 million first-time voters, and expanded overseas participation, has driven expectations of elevated turnout. Recent analyst estimates place participation near 74 percent, the highest since 2004 and well above the 66.6–70.4 percent recorded in 2023. Traders have priced the 70 percent-plus bracket as the leading outcome, reflecting these mobilization dynamics and the absence of factors that typically suppress participation in high-stakes national votes.