The aim of this article is to analyze three key issues in current Nicaraguan politics and in the political debate surrounding hybrid regimes: de-democratization, political protest, and the fall of presidencies. First, it analyzes the process of de-democratization that has been taking place in Nicaragua since 2000. It shows that the 2008 elections were not competitive but characteristic of an electoral authoritarian regime. Second, it reflects on the kind of regime created in Nicaragua under Daniel Ortega’s mandate, focusing on the system’s inability to process any kind of protest and dissent. Third, it examines the extent to which the protests that broke out in April 2018 may predict the early end to Ortega’s presidency, or whether Nicaragua’s political crisis may lead to negotiations between the government and the opposition.