Reza Pahlavi, the exiled son of Iran's last shah, has repeatedly stated his readiness to return as a transitional leader to coordinate post-regime governance, economic planning via the Iran Prosperity Project, and defections from security forces. Recent catalysts include U.S.-Israeli strikes on Iranian targets, the February 2026 assassination of Supreme Leader Ali Khamenei, and subsequent protests across provinces, which have weakened central authority and prompted Pahlavi to issue calls for unity and a "final call" for action. Traders weigh these developments against structural barriers such as fragmented opposition support inside Iran, Trump administration skepticism about Pahlavi's domestic backing, security risks to his return, and the absence of confirmed safe entry conditions or formal transition mechanisms. Scheduled international engagements and any further institutional erosion in the coming months could shift probabilities around feasible entry timelines.