**The 83.5% market-implied probability that the SEC will not remove the quarterly reporting requirement reflects the May 2026 proposal’s uncertain path to final adoption amid strong investor opposition.** The SEC’s plan would make Form 10-Q filings optional by permitting a new semiannual Form 10-S, preserving companies’ ability to report quarterly if desired, but the Investor Advisory Committee and buy-side participants have highlighted risks to timely disclosure, market efficiency, and capital allocation. Extensive public comments received by the July 2026 deadline, combined with the multi-step process of review, potential revisions, and Commission vote, have left adoption uncertain, with any final rule unlikely before 2027. Recent October reports note continued preparation efforts but no resolution, reinforcing trader skepticism that mandatory quarterly reporting will end.