I am almost certain we will see a nuclear Iran before the election. I base this on the following:

• The US wants to keep the ME in constant turmoil
• Obama has been working with Saudis and Israel to destabilize Syria
• Obama won't want Israel or Saudis becoming a regional super power
• Saudis and Israel want Iran gone, both powers have nukes
• Saudis got their nukes during Obama's reign
• A nuclear Iran would force a Mexican standoff in the ME
• Obama has shown he likes to play with terrorists and terrorist states, ie.. Saudis, ISIS

After giving Iran ransom, I don't think it all that unlikely Obama would give or look the other way, while Iran arms itself. Iran is already saying they will have nukes and there is nothing anyone can do about it ( http://www.timesofisrael.com/iran-now-has-nuclear-breakout-capability-us-intel-reports/ ).

I think Obama will just come out and say Iran has nukes, there is nothing to be done, this is a new reality, and we have to deal with it. Meanwhile, there is no reason nukes should have expanded to the Saudis or to Iran.