Video event prediction (VEP) requires models to infer unobserved future states from partial video evidence. Existing video MLLMs usually verbalize intermediate future reasoning in text space: once visual evidence is verbalized, fine-grained motion, geometry, and interaction cues can be lost, leading to plausible but visually ungrounded hallucinations. We introduce Future-L1, an interleaved latent visual reasoning framework that lets an MLLM alternate between language tokens and continuous latent visual spans during autoregressive decoding. To train this capability, we construct Future-L1-50K by selecting examples where future visual hints help prediction and align latent states to future-frame embeddings, then further optimize sampled latent trajectories with LA-DAPO, a latent-aware RL objective with outcome-contrastive and temporal-diversity rewards. Future-L1 achieves new state-of-the-art results on both benchmarks: on FutureBench, it improves Qwen3-VL-8B from 61.0 to 85.4 and exceeds the previous best Video-CoE by 10.4 points; on TwiFF-Bench, it improves the average score from 2.44 to 3.04. These results suggest that future-oriented video reasoning benefits from preserving intermediate visual semantics in latent space rather than translating every reasoning step into text.

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