2023 NCAA March Madness will be played from March 14 to April 3.

This market will resolve to "Yes" if more than 9.5 upsets occur in the first round (round of 64) of the 2023 March Madness tournament. Otherwise, this market will resolve to "No".

An "upset" is defined as a worse seed beating a better seed (e.g. a 10 seed beating a 1 seed, or a 9 seed beating an 8 seed).

The primary resolution source for this market will be official information from NCAA (https://www.ncaa.com/march-madness-live/bracket), however other credible reporting may be used.