The 2026 Nobel Peace Prize winner will be announced on Friday at 2:30 pm IST. Here is how the prize works.

The Norwegian Nobel Committee picks the winner. Its five members are chosen by Norway’s parliament. The shortlist is kept secret for 50 years.

Anyone can be nominated, but only certain people can submit nominations. These include parliament members, university professors and past laureates.

This year, Donald Trump has dominated the debate. He claims he settled eight wars and deserves the prize. He has attacked the committee before the announcement.

Last year, prediction markets nearly called the winner. Maria Corina Machado’s odds jumped from under 4 per cent to 69 per cent just before the announcement. Norway opened an inquiry into possible leaks.

The laureate receives the medal and diploma in Oslo on December 10.

The prize money comes from Alfred Nobel’s fortune. Winners also get global attention for their cause. Some past winners faced controversy later. The committee says it cannot control what laureates do after winning.