Anthony Albanese secured a second term as Australian Prime Minister in the May 2025 federal election with a Labor landslide, but his approval ratings have since fallen to record lows amid voter dissatisfaction. Recent polling shows Labor's primary vote hovering near 27-29 percent, with One Nation gaining ground and occasionally leading, while two-party preferred margins remain competitive against the Coalition. Key pressures include economic concerns, the aftermath of events such as the Bondi attacks, and internal opposition shifts. The next federal election is not due until 2028, though leadership speculation, party room dynamics, or a loss of parliamentary confidence could accelerate changes before then. Trader sentiment reflects these polling trends and the historical difficulty for incumbents facing sustained negative net satisfaction.