Zohran Mamdani assumed office as New York City mayor on January 1, 2026, following his 2025 electoral victory, and faces a standard four-year term with no active recall mechanisms or resignation signals. Trader consensus at 95.5% for "No" reflects the absence of major scandals, legal proceedings, or institutional pressures that could force an early exit within the brief window before 2027. Early governance has shown pragmatic adjustments amid fiscal constraints and mixed but not collapsing approval ratings around the 100-day mark. While skin-in-the-game pricing embeds this stability, low-probability catalysts such as sudden health developments, ethics investigations triggering council or state-level action, or unforeseen personal circumstances could still shift dynamics before the end of 2026.