Recent space-related military developments suggest that the guiding paradigm over the last four decades for space security talks—prevention of an arms race in outer space (PAROS)—is fast being overtaken by events. There are indications that intensifying competition in counterspace capabilities fits an arms race dynamic. This report looks at the origins of the PAROS debate and how it has evolved, and suggests limited, practical PAROS-related steps to help dampen destabilizing arms race dynamics.