US military branches met or exceeded fiscal 2026 recruiting targets across active and reserve components, sustaining the all-volunteer force without conscription since 1973. Automatic Selective Service registration, mandated in the FY2026 NDAA and scheduled for December implementation, streamlines contingency planning but requires separate congressional authorization for any induction, a step not under active consideration. Bipartisan efforts to repeal the Selective Service system and statements from administration officials that a draft remains off the current agenda reinforce trader consensus. A sudden escalation in ongoing conflicts or unforeseen shortfalls in volunteer accessions could still prompt legislative action within the resolution window.