The FED interest rates are defined in this market by the upper bound of the target federal funds range. The decisions on the target federal fund range are made by the Federal Open Market Committee (FOMC) meetings. This market will resolve to the amount of basis points the upper bound of the target federal funds rate is changed by versus the level it was prior to the Federal Reserve's December 2025 meeting. If the target federal funds rate is changed to a level not expressed in the displayed options, the change will be rounded up to the nearest 25 and will resolve to the relevant bracket. (e.g. if there's a cut/increase of 12.5 bps it will be considered to be 25 bps) The resolution source for this market is the FOMC’s statement after its meeting scheduled for December 9 - 10, 2025 according to the official calendar: https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm. The level and change of the target federal funds rate is also published at the official website of the Federal Reserve at https://www.federalreserve.gov/monetarypolicy/openmarket.htm. This market may resolve as soon as the FOMC’s statement for their December meeting with relevant data is issued. If no statement is released by the end date of the next scheduled meeting, this market will resolve to the "No change" bracket.

Presidential elections are scheduled to be held in Chile on November 16, 2025. If no candidate secures more than 50% of the vote outright, a second round of elections will be scheduled. This market will resolve to the candidate that wins this election. Otherwise, this market will resolve to "No". This market includes any potential second round. If the result of this election isn't known by May 31, 2026, 11:59 PM ET, the market will resolve to "No". This market will resolve based on the result of this election as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Chilean Government, specifically the Chilean Electoral Service (Servicio Electoral de Chile, Serval) (https://www.servel.cl/).

Nicușor Dan, the current Mayor of Bucharest, was elected President of Romania on May 18, 2025, triggering a mayoral by-election expected within 90 days of his departure. This market will resolve according to the candidate who wins the 2025 Bucharest mayoral by-election to become the next elected Mayor of Bucharest. Temporary, interim, or placeholder mayors appointed before the by-election will not be considered. If no by-election takes place by July 31, 2026, this market will resolve to “Other.” This market will resolve based on the result of the election as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Romanian Government, specifically the Permanent Electoral Authority (https://www.roaep.ro/prezentare/).

The 2025 election for half of the seats in Argentina's Chamber of Deputies is scheduled to be held on October 26, 2025. This market will resolve to the political party that controls the most seats in Argentina's Chamber of Deputies as a result of the upcoming election. If voting in the next Argentine election for the Chamber of Deputies does not occur by June 30, 2026, this market will resolve to "Other". In the case of a tie between this party and any other for the most seats held, this market will resolve in favor of the party whose listed abbreviation comes first in alphabetical order. This market's resolution will be based solely on the number of seats won by the named party or coalition. This market will resolve based on the result of the election as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by Argentina's government (e.g. via https://www.electoral.gob.ar/nuevo/index.php).

The 2025 Dutch general election is scheduled to take place on October 29, 2025. This market will resolve to the first ruling coalition of parties that forms after the 2025 Dutch general election. If the next Dutch Government after the election is not announced by October 31, 2026, this market will resolve to "No Coalition by October 31". A party will only be considered part of the coalition if it signs the coalition agreement and provides at least one cabinet minister. This market may resolve once the first government is officially announced and sworn in by the monarch, with ministers appointed under non-caretaker circumstances. The following parties will be to be considered for this market: PVV, GroenLinks–PvdA, VVD, CDA, D66, JA21. All other parties (including but not limited to SP, BBB, NSC, DENK, PvdD, FvD, SGP, CU, and Volt) will not be considered. Resolution will be based on the listed option that most completely matches the parties included. If the coalition formed after the election includes all of the parties listed in a market option (along with any other parties), that option will resolve to “Yes” unless there exists another market option that more completely covers the coalition. For example: If the governing coalition includes GL–PvdA + VVD + CDA + JA21, but no option explicitly lists those four together, the market will resolve to “VVD + CDA + JA21”. If the governing coalition includes PVV + VVD + CDA + D66, the option “PVV + VVD + CDA + D66” will resolve to “Yes”, while “PVV + VVD + CDA” will resolve to “No". If the governing coalition does not match any listed option (e.g. the governing coalition is D66 + JA21) this market will resolve to “Other”. In the event that multiple market options each contain an equal number of coalition parties, the tie will be resolved in favor of the option whose listed parties together hold the greater number of seats in the newly elected House of Representatives. If this presents another tie, this market will resolve in favor of the listed coalition which received the greater number of valid votes. This market will resolve based on a consensus of credible reporting. In case of ambiguity, this market will resolve based on official information from the Government of the Netherlands.

This market will resolve according to the next individual Donald Trump, as President of the United States, formally nominates to be Chair of the Federal Reserve by December 31, 2026, 11:59 PM ET. Formal nominations are defined as the submission of a nomination message to the U.S. Senate. Acting or interim appointments will not count unless the individual is formally nominated to be Chair of the Federal Reserve by submission of a nomination message to the U.S. Senate. The primary resolution source for this market will be official information from the U.S. Senate (see: https://www.senate.gov/legislative/nominations_new.htm), however a consensus of credible reporting may also be used.

This market will resolve to “Yes” if Jerome Powell ceases to be the Chair of the U.S. Federal Reserve for any period of time between January 26, 2025 ET and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”. The resolution source for this market will be information from the U.S. Government however a consensus of credible reporting will also suffice.

Presidential elections are scheduled to be held in Honduras on November 30, 2025. This market will resolve according to the listed candidate that wins this election. This market includes any potential second round. If the result of this election isn't known by December 31, 2026, 11:59 PM ET, the market will resolve to "Other". This market will resolve based on the result of the election as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Honduran government, specifically the National Election Council (Consejo Nacional Electoral or CNE) (https://www.cne.hn/).

This market will resolve to “Yes” if Lisa Cook announces her resignation or otherwise ceases to be a member of the Federal Reserve Board of Governors for any period of time between August 25, and September 30, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”. Only official announcements of Cook's resignation or removal made before her term is scheduled to end, made by either Cook or the Board of Governors, will qualify. Announcements from Trump or his administration will not alone qualify. Temporary absences or attempts at termination which do not actually remove Cook from the Board of Governors of the Federal Reserve will not qualify. The resolution source for this market will be information from the U.S. Government however a consensus of credible reporting will also suffice.

This market will resolve to "Yes" if the listed individual receives a presidential pardon, commutation, or reprieve from Donald Trump by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". The primary resolution source for whether the individual is pardoned or not will be official information from the US government, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if China commences a military offensive intended to establish control over any portion of the Republic of China (Taiwan) by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". Territory under the administration of the Republic of China including any inhabited islands will qualify, however uninhabited islands will not qualify. The resolution source for this market will be will be official confirmation by China, Taiwan, the United Nations, or any permanent member of the UN Security Council, however a consensus of credible reporting will also be used.

The ruling coalition of the Netherlands collapsed on June 3, 2025. New parliamentary elections are scheduled for October 29. This market will resolve to the next individual who is officially appointed and sworn in as Prime Minister of the Netherlands following the 2025 parliamentary election. To count for resolution, the individual must be formally sworn in. Any interim or caretaker Prime Minister will not count toward the resolution of this market. If no such Prime Minister is sworn in by December 31, 2026, 11:59 PM ET, this market will resolve to “Other”. The primary resolution source for this market will be official information from the Government of the Netherlands; however, a consensus of credible reporting may also be used.

Presidential elections are scheduled to be held in Portugal on 18 or 25 January 2026, with a possible second round on 8 or 15 February 2026. A second round will be held if no candidate secures more than 50% of the valid votes in the first round. This market will resolve according to the listed candidate that wins this election. This market includes any potential second round. If the result of this election isn't known by December 31, 2026, 11:59 PM ET, the market will resolve to "Other". This market will resolve based on the result of the election as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Portuguese government, specifically the National Election Commission (Comissão Nacional de Eleições, CNE) (https://www.cne.pt/).

If U.S. President Donald Trump visits a listed country between January 15 and December 31, 2025 11:59 PM ET, the relevant market will resolve to "Yes". Otherwise, this market will resolve to "No". For the purpose of this market, a "visit" is defined as Trump physically entering the terrestrial or maritime territory of the listed country. Whether or not Trump enters the country's airspace during the timeframe of this market will have no bearing on a positive resolution. The primary resolution source for this information will be official information from government of the United States of America, official information from Trump or released by his verified social media accounts (e.g. https://twitter.com/POTUS), however, a consensus of credible reporting will also be used.

This market will resolve according to the margin of victory (MoV) for Democrat Mikie Sherrill in the 2025 New Jersey gubernatorial general election, scheduled for November 4, 2025. For the purpose of resolving this market, the “margin of victory” is defined as the absolute percentage-point difference between Sherrill’s certified statewide vote share and the vote share of the runner-up (the candidate with the second-highest number of votes) in the certified results. If the reported value falls exactly between two brackets, this market will resolve to the higher range bracket. If Mikie Sherrill does not receive the most votes statewide in the certified results, this market will resolve to the lowest range bracket. This market will resolve based on the official certified statewide results as published by the New Jersey Division of Elections (New Jersey Department of State). If a recount is initiated prior to certification, the market will remain open until the recount is completed and the results are certified. A recount initiated after certification will not affect market resolution.

This market will resolve to "Yes" if the President of the United States, any member of the Cabinet of the United States, any member of the Joint Chiefs of Staff, or any US federal agency definitively states that extraterrestrial life or technology exists by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". The primary resolution source for this market will be official information from the government of the United States, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if the US government holds any amount of Bitcoin in its reserves at any point between January 1, 2025, ET and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". Note that the US government confiscating Bitcoin does not count as holding Bitcoin reserves. The primary resolution source for this market will be official information from the US government and/or the US federal reserve, however a consensus of credible reporting will also be used.

Donald Trump has announced a “Gold Card” plan to offer a pathway citizenship to citizenship in exchange for a $5m payment. This market will resolve according to the number of individuals who purchase a “Gold Card” by December 31, 2025, 11:59 PM ET. Any individual participating in a new program created after February 26, by the Trump Administration which is either referred to as a Gold Card, or involves a new pathway to U.S. citizenship, work permits, or any other form of legal residency status in exchange for payments or investment will qualify. If the reported value falls exactly between two brackets, then this market will resolve to the higher range bracket. The resolution source will be official information from the Trump Administration. If the Trump Administration does not publish the number or percentage of employees that accept the deferred resignation offer by December 31, 11:59 PM ET, this market will resolve based on a consensus of credible reporting.

This market will resolve to "Yes" if the United States officially announces that Greenland will come under US sovereignty by December 31, 2025, 11:59 PM ET. Otherwise this market will resolve to "No". Sovereignty is defined as the transfer of the majority of the territory of Greenland from its current status as an autonomous territory within the Kingdom of Denmark to being under the formal governance or jurisdiction of the United States, either as a state, territory, or other classification within the US system. An official announcement made by the United States and Denmark that Greenland will come under US sovereignty will qualify, even if the actual transfer of sovereignty is yet to occur. Only announcements of official agreements or actions (e.g. executive order, signed legislation, etc.) will count - mere posts on Social Media will not. The resolution source for this market will be official information from the governments of the US, Greenland, and Denmark , however a consensus of credible reporting confirming that Greenland has come under U.S. sovereignty will also qualify.

This market will resolve to "Yes" if the Islamic Republic of Iran’s current ruling regime is overthrown, collapsed, or otherwise ceases to govern by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”. This requires a broad consensus of reporting indicating that core structures of the Islamic Republic (e.g. the office of the Supreme Leader, the Guardian Council, IRGC control under clerical authority) have been dissolved, incapacitated, or replaced by a fundamentally different governing system or otherwise lost de facto power over a majority of the population of Iran. This could occur via revolution, civil war, military coup, or voluntary abdication, but only qualifies if the Islamic Republic no longer exercises sovereign power. Routine political events such as elections, reforms, or leadership succession do not qualify. Internal coups or power shifts that preserve the Islamic Republic’s core structures also do not qualify. Only a clear break in continuity—such as a new provisional government, revolutionary council, or constitution replacing the Islamic Republic will qualify. Partial loss of territory or challenges from rebel or exile groups will not qualify unless the Islamic Republic no longer administers the majority of the Iranian population within Iran. The resolution source will be a consensus of credible reporting.

A presidential election is scheduled to take place in Brazil on October 4, 2026. This market will resolve according to the listed candidate that wins this election. This market includes any potential second round. If the result of this election isn't known by June 30, 2027, 11:59 PM ET, the market will resolve to "Other". This market will resolve based on the result of the election as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Brazilian government, specifically the Superior Electoral Court (Tribunal Superior Eleitoral, TSE) (e.g., https://dadosabertos.tse.jus.br/).

On October 9, Israel and Hamas signed a deal implementing a ceasefire: https://www.reuters.com/world/middle-east/israel-hamas-agree-gaza-ceasefire-return-hostages-2025-10-09/ This market will resolve to "Yes" if a either Israel or Hamas announce the cancellation of the ongoing ceasefire, or if a consensus of credible reporting confirms that the ceasefire is no longer in effect, by October 31, 2025, 11:59 PM ET. Otherwise this market will resolve to "No". Announcements that one side or another violated the ongoing ceasefire will not be enough to resolve this market to "Yes"; only a definitive announcement by Israel or Hamas, or otherwise a wide consensus of credible reporting that that the ceasefire has been ended, will qualify to resolve this market to "Yes". The primary solution resolution source will be official information from Hamas or the government of Israel, however a consensus of credible reporting may also be used.

This market will resolve to “Yes” if Donald Trump resigns or is removed as President or otherwise ceases to be the President of the United States for any period of time between September 1 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”. An announcement of Donald Trump's resignation/removal before this market's end date will immediately resolve this market to "Yes", regardless of when the announced resignation/removal goes into effect. Only permanent removal from office will qualify. Temporary removal (e.g. temporary invocation of the 25th Amendment under Section 3 or a Section 4 invocation not sustained by both Houses of Congress) or impeachment without removal will not count. A sustained invocation of the Twenty-Fifth Amendment, Section 4 (i.e., if both Houses of Congress, by two-thirds vote, uphold the Vice President and Cabinet’s determination of presidential inability) will qualify for a "Yes" resolution. The resolution source for this market will be a consensus of credible reporting.

This market will resolve to "Yes" if Israel initiates a drone, missile, or air strike on Gaza soil on the listed date Israel Standard Time (IST). Otherwise, this market will resolve to "No". For the purposes of this market, a qualifying "strike" is defined as the use of aerial bombs, drones or missiles (including cruise or ballistic missiles) launched by Israeli military forces that impact Gaza ground territory. A strike on any area within the terrestrial territory of the Gaza Strip counts, including buffer zones. Missiles or drones which are intercepted and surface-to-air missile strikes will not be sufficient for a "Yes" resolution regardless of whether they land on Gaza territory or cause damage. Actions such as artillery fire, small arms fire, FPV or ATGM strikes, ground incursions, naval shelling, cyberattacks, or other operations conducted by Israeli ground operatives will not qualify. The primary resolution source will be official government/military statements (Israeli or foreign), multilateral bodies (UN, etc.), or a consensus of credible reporting from major international media and national broadcasters/newspapers. If the date/time of a strike cannot be confirmed by a consensus of credible reporting within 48 hours of this market's end date, it will resolve to "No" regardless of whether a strike was later confirmed to have taken place.

This market will resolve to "Yes" if Israel initiates a drone, missile, or air strike on Lebanese soil on the listed date Israel Standard Time (IST). Otherwise, this market will resolve to "No". For the purposes of this market, a qualifying "strike" is defined as the use of aerial bombs, drones or missiles (including cruise or ballistic missiles) launched by Israeli military forces that impact Lebanon ground territory. A strike on any area within the terrestrial territory of Lebanon counts, including buffer zones. Missiles or drones which are intercepted and surface-to-air missile strikes will not be sufficient for a "Yes" resolution regardless of whether they land on Lebanon territory or cause damage. Actions such as artillery fire, small arms fire, FPV or ATGM strikes, ground incursions, naval shelling, cyberattacks, or other operations conducted by Israeli ground operatives will not qualify. The primary solution resolution source will be official government/military statements (Israeli or foreign), multilateral bodies (UN, etc.), or a consensus of credible reporting from major international media and national broadcasters/newspapers. If the date/time of a strike cannot be confirmed by a consensus of credible reporting within 48 hours of this market's end date, it will resolve to "No" regardless of whether a strike was later confirmed to have taken place.

If Iran halts or severely restricts international maritime traffic through the Strait of Hormuz by December 31, 2025, 11:59 PM ET, this market will resolve to "Yes". Otherwise, this market will resolve to "No". The primary resolution source for this market will be official governmental information, however a consensus of credible reporting will also be used.

This market will resolve to “Yes“ if the US House of Representatives by simple majority vote to approve or pass one or more articles of impeachment of President Donald Trump, between January 20 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". Neither trial nor conviction by the US Senate, nor removal from office, is necessary to resolve this market to “Yes“. The primary resolution source for this market will be information from the federal government of the United States, however a consensus of credible reporting will be used.

Parliamentary elections are scheduled to be held in the Czech Republic on October 3, 2025. This market will resolve to the next individual who is officially appointed and sworn in as Prime Minister of the Czech Republic following the 2025 parliamentary election. To count for resolution, the individual must be formally sworn in. Any interim or caretaker Prime Minister will not count toward the resolution of this market. If no such Prime Minister is sworn in by December 31, 2026, 11:59 PM ET, this market will resolve to “Other”. The primary resolution source for this market will be official information from the Government of the Czech Republic; however, a consensus of credible reporting may also be used.

This market will resolve to “Yes” if it is announced that that the listed individual will leave the Trump Administration, or otherwise ceases to be a member of administration by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”. An announcement of the listed individual's resignation/removal before this market's end date will immediately resolve this market to "Yes", regardless of when the announced resignation/removal goes into effect. The Trump administration includes individuals formally appointed by Donald Trump to roles within the U.S. federal government, such as Cabinet members, Executive Office staff, senior policy advisors, ambassadors, or White House staff whose appointments are publicly announced by official government channels. The primary resolution source will be official information from the Trump administration, however a consensus of credible reopening may also be used.

This market will resolve to "Yes" if the Trump Administration publicly releases any files pertaining to the illegal activities of Jeffrey Epstein, which weren’t previously public by the listed date (ET). Otherwise, this market will resolve to "No". A qualifying file must contain substantive information pertaining to the illegal activities of Jeffrey Epstein. The following will qualify: -Previously released documents in which redactions containing new substantive content such as names of associates or practices directly pertaining to the illegal activities of Jeffrey Epstein were removed. -Documents which weren’t previously public which contain information pertaining to the illegal activities of Jeffrey Epstein which was already known from previous releases (e.g. a previously unreleased document pertaining to the illegal activities of Jeffrey Epstein which mentions Ghislaine Maxwell will qualify even if the information itself isn’t novel) The following will not qualify: -Trivial metadata-only releases, duplicative redactions, or administrative cover sheets without substantive content. -Files which were created after the start of the Trump Administration (January 20, 2025, 12:00 PM ET). -Announcements of declassifications or releases that are not implemented within this market's timeframe. -Releases made exclusively by federal courts (including unsealings), Congress or its committees, state or local governments, private entities, or leaks not officially attributable to the Executive Branch. -Releases made by non-Executive entities, even if based on Executive Branch filings or requests. -Court-ordered FOIA disclosures or FOIA litigation records provided by a court. -Leaked, unofficial, or anonymously sourced disclosures will not qualify For a release to qualify, the Executive Branch must itself publish the files to the public, such as through an official website, public press release, or FOIA reading room. Transmissions to Congress, courts, or other non-Executive entities do not qualify unless the Executive Branch subsequently makes the files publicly accessible. FOIA responses qualify only if the Executive Branch agency itself publicly releases the responsive files. FOIA disclosures published by courts as part of litigation do not qualify. The primary resolution source for this market will be official information from the government of the United States, however a consensus of credible reporting will also be used.

Parliamentary elections are expected to be held in Hungary in April or May 2026. This market will resolve to the individual who is next officially appointed and confirmed as Prime Minister of Hungary following the 2026 parliamentary election. To count for resolution, the individual must be formally elected and appointed to the role of Prime Minister. Any interim or caretaker Prime Minister will not count toward the resolution of this market. If no such Prime Minister is confirmed by December 31, 2026, 11:59 PM ET, this market will resolve to “Other.” The primary resolution source for this market will be official information from the Government of Hungary; however, a consensus of credible reporting may also be used.

This market will resolve based on the countries that officially recognize Palestine as a state between August 4 and December 31, 2025, 23:59 ET. An announcement of intentions will not suffice to resolve this market to "Yes." Only a government's formal recognition of the State of Palestine will count toward a “Yes” resolution for this market. The primary resolution source for this market will be official government information. However, a consensus of credible reporting will also be used.

This market will resolve based on federal government current expenditures as reported by the St. Louis Federal Reserve Bank, displayed here (https://fred.stlouisfed.org/series/FGEXPND). This market will resolve to the amount federal government current expenditures decrease by between the Q4 2024 report and the Q4 2025 report. If the reported value falls exactly between two brackets, then this market will resolve to the higher range bracket. The difference will be calculated as the Q4 2024 value minus the Q4 2025 value. The figures will be based on the initial Q4 2024 and Q4 2025 values as reported by the St. Louis Federal Reserve Bank. Revisions made to these figures will not be considered, only the values reported in the initial reports will be used. The figures will be based on the Q4 2024 and Q4 2025 values as reported by the St. Louis Federal Reserve Bank as soon as the data for Q4 2025 becomes available, regardless of whether later revisions are made. This market's resolution source is the Federal Government: Current Expenditures chart maintained by the St. Louis Federal Reserve Bank, displayed here (https://fred.stlouisfed.org/series/FGEXPND).

This market will resolve to "Yes" if Israel announces it has ceased all ground operations within and has withdrawn all ground forces from Gaza between January 1 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". For this market to resolve to "Yes" it is sufficient that Israel announces its ground forces have withdrawn into or behind intended buffer zones, even if that zone is established on internationally recognized Palestinian territory. The primary resolution source for this market will be information from the Israeli government, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if a deal in which Ukraine agrees to formally recognize Russian sovereignty over any UN-recognized Ukrainian territory is reached between the Russian Federation and Ukraine by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”. The deal must be a publicly announced mutual agreement. If such an agreement is officially reached before the resolution date, this market will resolve to "Yes", regardless of if/when the agreement goes into effect. An agreement by Ukraine formally recognizing Russian sovereignty over any UN-recognized Ukrainian territory for any amount of time will count. An agreement by Ukraine formally recognizing Russian sovereignty over any UN-recognized Ukrainian territory as a precondition of a more comprehensive peace process or deal will qualify, even if the agreement is not finalized or part of a formalized peace deal. The September 8, 1995, “Agreed Basic Principles” between Bosnia and Yugoslavia, which recognized the borders and sovereignty of Bosnia and Herzegovina, and was later formalized through the Dayton Peace Agreement, is an example of a qualifying agreement. An official unilateral pledge by Ukraine formally recognizing Russian sovereignty over any UN-recognized Ukrainian territory will qualify for a “Yes” resolution even if not part of an agreement with Russia. The April 19, 2013, Brussels Agreement between Serbia and Kosovo, in which Serbia recognized Kosovo’s de facto administration but did not formally grant de jure recognition, would not be considered a qualifying agreement under this market, as this market requires formal recognition of sovereignty rather than acknowledgment of administrative control. The primary resolution source for this market will be an official announcement by Ukraine and/or the Russian Federation, however, an overwhelming consensus of credible reporting confirming an agreement has been reached will also qualify.

This market will resolve to "Yes" if China commences a military offensive intended to establish control over any portion of the Republic of China (Taiwan) by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". Territory under the administration of the Republic of China including any inhabited islands will qualify, however uninhabited islands will not qualify. The resolution source for this market will be will be official confirmation by China, Taiwan, the United Nations, or any permanent member of the UN Security Council, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if there is a military encounter between the military forces of China (People's Republic of China) and Taiwan (Republic of China) between January 29, and June 30, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". A "military encounter" is defined as any incident involving the use of force such as missile strikes, artillery fire, exchange of gunfire, or other forms of direct military engagement between Chinese and Taiwanese military forces. Non-violent actions, such as warning shots, artillery fire into uninhabited areas, or missile launches that land in territorial waters or pass through airspace, will not qualify for a "Yes" resolution. Intentional ship ramming that results in significant damage to (e.g., a hole in the hull) or the sinking of a military ship by another will count toward a "Yes" resolution, however minor damage (scrapes, dents) will not. Note: the China Coast Guard (CCG) is part of the military, however Taiwan's Coast Guard Administration (CGA) is not. The resolution source for this market will be a consensus of credible reporting.

This market will resolve to "Yes" if the United States formally declares war on Iran through an act of Congress between June 21 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No." To qualify, Congress must pass a formal declaration of war, consistent with its constitutional authority under Article I, Section 8. Authorizations for the use of military force (AUMFs), executive orders, presidential statements, or military actions do not qualify unless accompanied by a formal declaration of war enacted by Congress and signed into law. The resolution source will be a clear consensus of credible reporting.

This market will resolve to "Yes" if national elections for the parliament and/or presidency of Ukraine are held between February 12 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". This market is based on whether national elections are actually held in Ukraine within the specified dates. Merely scheduling an election will not be sufficient to resolve this market to "Yes". If elections are officially scheduled for a date outside of 2025, this market will immediately resolve to "No". The primary resolution source for this market will be official information from the government of Ukraine, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if the government of the People's Republic of China (PRC) explicitly announces that Chinese citizens will be allowed to legally buy Bitcoin with yuan (renminbi) from inside China between July 1, 2025, and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". For this market to resolve to "Yes" it is only necessary that the PRC announces this change will take place. Whether it actually does will have no bearing on the resolution of this market. The primary resolution source for this market will be official information from the PRC, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if credible reports from international nuclear agencies, Iran's government itself, or credible global news sources officially confirm that Iran possesses a nuclear weapon by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

Nicușor Dan, the current Mayor of Bucharest, was elected President of Romania on May 18, 2025, triggering a mayoral by-election expected within 90 days of his departure. This market will resolve according to the candidate who wins the second most votes in the 2025 Bucharest mayoral by-election. If no by-election takes place by July 31, 2026, this market will resolve to “Other.” This market will resolve based on the result of the election, as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Romanian Government, specifically the Permanent Electoral Authority (https://www.roaep.ro/prezentare/).

This market will resolve to "Yes" if the Panama Canal comes under US control by December 31, 2025, 11:59 PM ET. Otherwise this market will resolve to "No". For the purposes of this market, US control means the United States assumes primary operational authority over the canal, either via diplomatic agreement, military action, or any other means. An official announcement made by the United States and Panama that the Panama Canal will come under US control will qualify, even if the actual transfer of control is yet to occur. Only announcements of official agreements or actions (e.g. executive order, signed legislation, etc.) will count - mere posts on Social Media will not. The resolution source for this market will be official information from the US Government and the Government of Panama, however a consensus of credible reporting confirming that the Panama Canal has come under US sovereignty will also qualify.

This market will resolve to "Yes" if the date of the next French parlimentary election is declared by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". For this market to resolve to "Yes" it is only necessary that the election date be declared, not that the election actually occur within the market timeframe. The primary resolution source for this market will be official information from the government of the France, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if the US government holds any amount of Dogecoin in its reserves at any point between January 15, 2025, ET and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". Note that the US government confiscating Dogecoin does not count as holding Dogecoin reserves. The primary resolution source for this market will be official information from the US government and/or the US federal reserve, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if the US Department of Education ceases operations entirely, including the termination of all federal educational programs managed by the department, by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". If the US Department of Education is merged with another agency, resulting in a consolidated department with a shared administrative structure which is no longer titled the Department of Education it will count as a "Yes" resolution. If it becomes impossible for Trump to sign legislation/perform executive actions (e.g. he resigns), this market will resolve to "No". The primary resolution source for this market will be official information from the US government, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if the next Ukrainian presidential election is scheduled in 2025. Otherwise, this market will resolve to "No". This market is about whether a date for the next Ukrainian election is announced between February 14 and December 31, 2025, 11:59 PM ET. Whether the election is supposed to take place in 2025 or later will have no effect on the resolution to this market. The primary resolution source for this market is official information from the Government of Ukraine however a consensus of credible reporting may also be used.

This market will resolve to "Yes" if the US government holds any amount of XRP in its reserves at any point between January 15, 2025, ET and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". Note that the US government confiscating XRP does not count as holding XRP reserves. The primary resolution source for this market will be official information from the US government and/or the US federal reserve, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if the US government holds any amount of Ethereum in its reserves at any point between January 15, 2025, ET and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". Note that the US government confiscating Ethereum does not count as holding Ethereum reserves. The primary resolution source for this market will be official information from the US government and/or the US federal reserve, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if the U.S. government formally recognizes Russian sovereignty over the majority of the Crimean peninsula by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”. Donald Trump's March 25, 2019, recognition of Israel's sovereignty over the Golan Heights is an example of a qualifying action. Statement of intents, or announcements of planned recognition will not qualify. The resolution source for this market will be the U.S. Government, however a consensus of credible reporting may also be used.

This market will resolve according to the party that controls the House of Representatives following the 2026 U.S. House elections scheduled for November 3, 2026. House control is defined as having more than half of the voting members of the U.S. House of Representatives. If the outcome of this election is ambiguous given the above rules, this market will remain open until the Speaker of the House is selected following the 2026 U.S. general election, at which point it will resolve to the party the Speaker is affiliated with at the time of their election to that position. If the elected Speaker does not caucus with any listed party this market will resolve “Other”. Determination of which party controls the House after the 2026 U.S. House elections will be based on a consensus of credible reporting, or if there is ambiguity, final federal and/or state election authority certification or other final official determination of the 2026 election results.

This market will resolve to "Yes" if the United States government assumes administrative, military, or political control over the Gaza Strip by December 31, 2025 11:59 PM ET. This includes direct governance, military occupation with administrative authority, or any formal arrangement where the U.S. exercises primary governing authority over Gaza territory. Mere military presence including the establishment of bases, advisory roles, humanitarian missions, or support for other governing entities without the U.S. holding primary control will not qualify. The resolution source will be a consensus of credible reporting.

This market will resolve to "Yes" if the US government holds any amount of Solana in its reserves at any point between January 15, 2025, ET and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". Note that the US government confiscating Solana does not count as holding Solana reserves. The primary resolution source for this market will be official information from the US government and/or the US federal reserve, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if President of the United States Donald Trump announces he has resigned or will resign the presidency by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No." If it becomes impossible for Donald Trump to resign or to announce his resignation (e.g., due to his removal from office by other means, etc.), this market will immediately resolve to "No." For this market to resolve to "Yes," it is only necessary that Trump announce that he has resigned or will resign. Whether he actually resigns will have no bearing on the resolution of this market. The primary resolution source for this market will be official information from the US federal government; however, a consensus of credible reporting will also be used.

This market will resolve to "Yes" if Donald J. Trump, as President of the United States, signs into law a bill that lowers the corporate tax rate in the United States below 21% at any point between January 19 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No." Note that the cut does not need to go into effect before the resolution date - it just needs to be signed into law by then. This market's primary resolution source will be official information from the Trump administration, however a consensus of credible information will also be used.

This market will resolve to "Yes" if the United States Federal Reserve is formally abolished by December 31, 2025 ET. Otherwise, this market will resolve to "No". The primary resolution source for this market will be information from the US federal government, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if Donald Trump is formally removed from the office of the President of the United States by means of the process outlined in Section 4 of the 25th Amendment to the US Constitution by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". If the Vice President becomes Acting President via the process outlined in Section 3 of the 25th Amendment, it will not effect the resolution of this market. Only Trump’s removal from office via the process outlined in Section 4 of the 25th Amendment will qualify for a "Yes" resolution. If Trump ceases to be POTUS before this market's expiration date for any other reason, this market may immediately resolve to "No". The resolution source for this market will be official information from the US government.

This market will resolve to "Yes" if the United States formally acquires any part of Canadian territory by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”. Acquisition must be through official government action, such as annexation, treaty, or legislation. The resolution source will be official information from the U.S. government however a consensus of credible reporting may also be used.

This market will resolve to "Yes" if Donald Trump signs any federal legislation or performs any executive action that creates a ‘DOGE dividend’ by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". Any cash transfer, tax credit, or other comparable financial transfer which is referred to as a DOGE dividend, or which is otherwise directly funded by savings created by the Department of Government Efficiency (DOGE) will qualify. Any bill signed into law or executive action taken within this market's time frame will qualify, regardless of when the law or action goes into effect. This market's primary resolution source will be official information from the Trump administration, however a consensus of credible information will also be used.

This market will resolve to "Yes" if the United States formally initiates a withdrawal from NATO or provides an official notice of denunciation to NATO by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". A notice of denunciation refers to the submission of a notice of withdrawal as per Article 13 of the North Atlantic Treaty. Any action meeting these criteria will qualify for a “Yes” resolution regardless of if its implementation is immediately halted or delayed by judicial or other actions. The U.S.'s exit from NATO’s integrated military command structure will not be sufficient to resolve this market to "Yes". The resolution source will be official information from the US government and NATO, however a consensus of credible reporting may also be used.

This market will resolve to "Yes" if the US Department of the Treasury sends any funds or assets via a blockchain between February 4, and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". For this market to resolve to "Yes", the payment must be a publicly announced, official transaction involving the sending of assets or funds; exploratory or experimental transactions will not count toward the resolution of this market. The primary resolution source for this market will be official information from the government of the United States, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if legislation that reduces the federal long-term capital gains tax rate for the highest bracket is signed into law by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". A reduction to the top income bracket for long term capital gains tax (20%) within market timeframe will be sufficient to resolve this market to "Yes". The reduction must apply to the federal long-term capital gains tax rate for individuals and can take effect outside of this market's timeframe. Temporary reductions or breaks, or changes that do not directly lower the tax rate, such as adjustments to brackets or deductions, will not count. The primary resolution source for this market will be official information from the US government, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if the US federal income tax is eliminated between January 21 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, "abolishing the federal income tax" means the elimination of federal income tax obligations for individuals in the US, not merely reductions, suspensions, or alterations to tax rates, brackets, or enforcement policies. The market will not consider executive orders, temporary measures, or proposals that do not become law. The primary resolution source for this market will be official information from the US federal government, including announcements from Donald Trump and the IRS, however a consensus of credible reporting will also be used.

The U.S. federal budget deficit for December 2024 was $86,731,619,013.29 (see: https://fiscaldata.treasury.gov/datasets/monthly-treasury-statement/summary-of-receipts-outlays-and-the-deficit-surplus-of-the-u-s-government). This market will resolve to "Yes" if the Monthly Treasury Statement (MTS) reports a lower monthly deficit in December 2025 than in December 2024. Otherwise, this market will resolve to "No." The resolution source will be the Monthly Treasury Statement (MTS) published by the U.S. Department of the Treasury (fiscaldata.treasury.gov). The month surplus can be found in the column labeled "Current Month Deficit Surplus Amount" in the the table "Summary of Receipts, Outlays, and Surplus or Deficit” in the MTS (see: https://fiscaldata.treasury.gov/datasets/monthly-treasury-statement/summary-of-receipts-outlays-and-the-deficit-surplus-of-the-u-s-government). If no report is published by February 28, 2026, 11:59 PM ET another credible source will be used.

This market will resolve to "Yes" if the US Internal Revenue Department ceases operations entirely by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". If the IRS is merged with another agency, resulting in a consolidated department with a shared administrative structure which is no longer titled the Internal Revenue Service it will count as a "Yes" resolution. If it becomes impossible for Trump to sign legislation/perform executive actions (e.g. he resigns), this market will resolve to "No". The primary resolution source for this market will be official information from the US government, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if a bill that includes at least one of the following provisions is signed into federal law in the United States by December 31, 2025, 11:59 PM ET. - Prohibition on Creation or Release: Forbids the creation or release of specific AI systems or models. - Training Restrictions: Sets limits on how AI systems can be trained, such as restricting access to previously available training data or imposing a maximum limit on the number of parameters used for training. - Usage Restrictions: Prevents AI systems from being used in certain applications, such as interacting with customers, interfacing with other applications, or performing actions on the web. - Human-in-the-Loop Requirements: Requires AI systems to include mechanisms ensuring human oversight or involvement in their operation. Otherwise this market will resolve to "No". The resolution source will be official U.S. federal government (e.g., Congress.gov) however a consensus of credible reporting may also be used.

This market will resolve to "Yes" if Donald J. Trump, as President of the United States, signs into law a bill that lowers the maximum individual tax rate below 37% at any point between January 19 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No." Note that the cut does not need to go into effect before the resolution date - it just needs to be signed into law by then. This market's primary resolution source will be official information from the Trump administration, however a consensus of credible information will also be used.

This market will resolve to "Yes" if the Trump administration officially announces that they will be sending US troops to Ukraine as part of a peacekeeping force by December 31, 2025, 11:59 PM ET. Otherwise this market will resolve to “No”. A qualifying announcement must be part of a formal agreement between the United States and another country or international organization or otherwise indicative of a formalized policy. Announcement which are statements of intent, contingent, or otherwise are not indicative of a formalized policy will not count. The primary resolution source for this market will be official information from the Trump administration, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if at least one cabinet-level Donald Trump appointee from his second term leaves their position by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". Voluntary resignations, removals, retirements, or departures for any reason will count. Announcements alone will not qualify toward this market's resolution. An individual must actually have left their cabinet-level position. Temporary or acting officials will not count toward this market's resolution. The primary resolution source for this market will be official information from the US government, however a consensus of credible reporting will also be used.

This market will resolve to "Yes" if Donald Trump signs a bill into law or performs any executive action changing US tax law to eliminate the federal tax exemption on interest from municipal bonds by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". If the exemption is eliminated only for specific types or classes of municipal bonds (e.g., only newly issued bonds, only bonds from certain states or localities, or only bonds purchased after a certain date), it will still count toward a "Yes" resolution for this market. If the bill is signed into law, or executive action is instituted before the resolution date, it will suffice to resolve this market to "Yes" regardless of when it takes effect. The primary resolution source for this market will be official information from the US federal government, however a consensus of credible reporting will also be used.