The absence of any congressional legislation or presidential action authorizing conscription explains the 96.5% trader consensus against a U.S. military draft in 2026. The all-volunteer force established after 1973 remains in place, and recent developments center on administrative updates to Selective Service registration under the fiscal 2026 National Defense Authorization Act rather than induction authority. Automatic registration scheduled for December 2026 streamlines database use for contingency planning but does not activate the draft, which would require separate statutory approval for inductions. Bipartisan proposals to repeal the Selective Service System entirely further underscore limited support for conscription. Realistic shifts could arise only from unforeseen escalation in major conflicts that exhaust volunteer recruitment, prompting emergency congressional action before year-end.