The ISPI Report 2026 portrays a world of "anything goes": a world that seems to have lost its brakes, its rules, and its compass. Donald Trump's return to the White House has accelerated the deregulation of global coexistence, at a time when the post-Cold War order is crumbling without any credible alternative taking shape. In this context, the likelihood of major conflicts is rising, diplomacy is often understood as coercion, alliances have become more fluid, and multilateral institutions are increasingly weakened. From the arms race to the climate crisis, from the fragmentation of trade to technological competition, this Annual Report provides an essential lens for understanding why freedom without rules risks turning into permanent disorder.