As of mid-2026, no major-party figures have formally announced 2028 presidential campaigns, though early positioning is underway following the 2024 election and amid term-limit constraints on the incumbent. Republican signals center on Vice President JD Vance as the early polling and market favorite, alongside Secretary of State Marco Rubio and others testing interest through statements or exploratory steps; on the Democratic side, former Vice President Kamala Harris, Governor Gavin Newsom, and former Transportation Secretary Pete Buttigieg top polls and fundraising speculation. The Democratic National Committee’s August 2026 approval of a revised primary calendar—starting with South Carolina, Nevada, New Hampshire, and other diverse states—adds procedural clarity that could shape coalition-building timelines. Most serious contenders are expected to wait until after the November 2026 midterms before committing, consistent with historical patterns where formal declarations accelerate in late 2026 or early 2027. Minor candidates have already filed with the FEC, but trader focus remains on high-profile names whose exploratory activity, polling trends, and post-midterm positioning will determine announcement timing before the 2028 cycle.