This chapter presents a comparative analysis of contemporary populism in Australia and Italy, reflecting on the similarities and differences of both. In Italy, populist parties have been playing a mainstream role since 1992. The country’s four populist parties have been in power, almost continuously, since 2010. They express different populist features, but still their politics is fundamentally rooted in the widespread sense of distrust towards state and governmental institutions. In Australia, the continued decline in democratic satisfaction and trust in political leaders and institutions has correlated with a rise of independents and minor parties, as well as leadership instability within the major political parties. We investigate the interaction between different forces—the media system, the party and electoral system, and long-term decline in political trust—to explain why the expression of populism in Australia has been radically different from that of Italy.