Moderate risk exists. The rules state that if Likud merges or runs on a joint candidate list, all seats won by the entire alliance will be counted. This means even if Likud's standalone support drops, forming a coalition that wins 32+ seats together would resolve the market to 'No'. Additionally, if the election is delayed and results are not known by June 30, 2027, the market defaults to 'No', penalizing 'Yes' holders.