diff --git a/Lib/threading.py b/Lib/threading.py
--- a/Lib/threading.py
+++ b/Lib/threading.py
@@ -323,14 +323,14 @@ class Event:
             self._cond.release()
 
     def wait(self, timeout=None):
-        self._cond.acquire()
-        try:
-            signaled = self._flag
-            if not signaled:
+        signaled = self._flag
+        if not signaled:
+            self._cond.acquire()
+            try:
                 signaled = self._cond.wait(timeout)
-            return signaled
-        finally:
-            self._cond.release()
+            finally:
+                self._cond.release()
+        return signaled
 
 
 # A barrier class.  Inspired in part by the pthread_barrier_* api and