On May 10, there's a possibility that a resolution recognizing Palestine as an equal member of the Security Council could be presented to the UN General Assembly. A similar resolution proposed to the UN Security Council a few weeks ago was vetoed by the United States.
It's important to note that decisions made by the General Assembly are advisory, the adoption of this resolution wouldn't mean the establishment of a Palestinian state. However, a significant majority of UN members are expected to vote in favor of it.
Gilad Erdan, Israel's representative to the UN, has suggested that if such a decision is made, the United States should consider halting funding to the international organization, drawing parallels to what the US did with UNESCO when it granted full membership to the Palestinian Authority.
In 1988, the Palestinian National Council declared Palestine's independence. Although 140 UN members supported this decision and numerous states recognized Palestine's independence shortly after, it didn't result in the establishment of an independent Palestinian state.