Meloni out as Prime Minister of Italy by July 31?

✨ The field is virtually nonexistent: only two candidates register at 1% each, and no one has broken 5%, making this the most open Democratic nomination race in modern history. The single biggest recent shift is the DNC's decision to put South Carolina first in the 2028 primary calendar (Axios, Jul 25), which could reshape candidate strategies and favor a different type of contender.

✨ Despite oil surging near $100 and resurfacing inflation fears, the market is overwhelmingly pricing in no rate change at the July FOMC meeting, suggesting traders see the Fed as willing to look through energy-driven price pressures for now.

✨ The field is moderately concentrated with Labour leading at 36%, but Reform UK and Conservative are close; the biggest recent shift is Reform UK overtaking the Conservatives for second place, as seen in the stated odds, though no headline directly explains this.

✨ The market surged 12 points in 24 hours after Trump's ambiguous remarks at the White House Correspondents' Dinner were interpreted by some as a formal declaration of a 2028 run, despite the clear constitutional bar on a third term.

Yes ≈ 65% chance

✨ The Republican nomination field is exceptionally fragmented, with no candidate above 5% and the top three sum to just 1% — a sign that the race is truly wide open and still in its earliest jockeying phase, despite a recent poll placing Senator JD Vance near the top of a generic primary ballot (USA Today, Jul 23).

✨ The field is highly concentrated at the top, with Kennedy and Vance combining for 92% of the odds, but the real story is Kennedy's surge to 49%—a position that lacks any clear recent headline catalyst, as the provided headlines focus on Democratic odds, Loomer's Ukraine meeting, and a Buttigieg-Vance poll, not Kennedy.