Hamas has recently carried out a show of strength by deploying fighters in Gaza as part of the ongoing peace process initiated by the U.S.-brokered ceasefire plan. Following the October 7, 2023 attack and two years of conflict, Hamas has released all 20 living Israeli hostages as part of a deal with Israel, which in exchange released nearly 2,000 Palestinian prisoners and detainees. This prisoner and hostage exchange marks the first phase of a broader peace plan advanced by President Donald Trump, who has emphasized that Hamas must disarm in future phases of the agreement. Currently, a ceasefire is in effect, and an international multinational force is to oversee the ceasefire’s maintenance. Humanitarian aid is beginning to flow into Gaza, with hundreds of truckloads delivering supplies. However, major issues remain unresolved, including Hamas’s refusal to disarm and relinquish control over Gaza, Israeli demands for demilitarization, and Palestinian aspirations for statehood. These thorny political and security issues will need to be addressed in subsequent negotiations but could cause tensions or even a resumption of hostilities if not managed carefully. In short, Hamas remains in control of Gaza but under significant military, political, and diplomatic pressure. The future of Hamas depends on how the upcoming phases of the peace plan unfold, particularly whether Hamas agrees to disarm and how governance and security arrangements are negotiated, with the international community, including the U.S., closely involved in monitoring the situation.