This market refers to a constitutional referendum expected to be held in Italy in the second half of March 2026 concerning proposed amendments to the Constitution of Italy related to the organization and functioning of the judiciary.

This market will resolve to “Yes” if the Italian judicial reform constitutional referendum (Nordio Reform Referendum), or a substantively equivalent referendum on the same constitutional amendments, is approved by a majority of valid votes cast in the nationwide referendum currently expected to be held in March 2026. Otherwise, this market will resolve to “No.”

If the referendum is officially rescheduled, the same rule applies to the new ballot and its corresponding deadlines. This market will resolve to “No” if no qualifying referendum approving the judicial reform is passed by June 30, 2026, 11:59 PM ET.

The resolution source will be based on the official certified referendum results as published by the Italian Ministry of the Interior or an equivalent official Italian government authority. Subsequent litigation, administrative challenges, or failure of any post-approval implementation steps will not be considered.