Disclosure now runs on the executive's clock, and no law forces its hand.

U.S. disclosure on unidentified anomalous phenomena is now run by the executive branch, on a schedule it sets for itself, with no statute compelling release. Disclosure flows through the Pentagon's PURSUE portal, published when the administration chooses. That apparatus sits on top of an intelligence office that changes hands today. The timing and content of any market-moving release therefore rest with an actor under no deadline, which leaves event timing unhedgeable against a fixed calendar and raises headline risk for exposed counterparties.