The 2026 FIFA World Cup will be held jointly in the United States, Mexico, and Canada from June through July, marking the tournament's first expansion to 48 teams. Panama previously qualified for the 2018 World Cup in Russia, competing in the group stage before elimination. To participate in 2026, Panama must qualify through CONCACAF (the North American confederation) qualifying rounds. This market resolves definitively on July 20, 2026, when the championship match determines the official World Cup winner. The current 0% odds represent the lowest probability available and reflect traders' assessment that Panama has virtually no chance at the title, positioning them well below traditional favorites like France, Argentina, Brazil, and Germany. This extreme pricing is consistent with Panama's recent tournament history, their group-stage exit in 2018, and their competitive standing in international football. While the expanded 48-team format creates more pathways for unexpected tournament runs compared to previous World Cups, Panama remains priced at the floor—suggesting traders perceive no meaningful probability of victory. The probability assigned reflects both the historical difficulty of non-traditional powers winning the World Cup and Panama's current position in the sport.