Market Dates:

• Market Period: From the publication date through March 31, 2026, at 11:59 PM UTC.
• Market Close: March 31, 2026, at 11:59 PM UTC.
• Resolution Deadline: The resolution will be determined after Market Close, or earlier if the outcome is reached.

Resolution Criteria:

• Resolves to "Yes" if Ali Khamenei, Iran’s Supreme leader, is removed from power within the Market Period.
• Resolves to “No” if he stays in power throughout the entire Market Period.

Resolution Details:

• The market will be resolved primarily based on reports from Reuters, Associated Press and the BBC. Other reputable media reports as long as verifiably credible may be used as supplementary resolution sources if necessary.
• Khamenei will be considered removed from power if he steps down, is arrested or detained, is officially replaced, or is otherwise unable to perform the duties of the Supreme Leader of Iran.

Cancellation Conditions:

• The resolution sources are unavailable or compromised.
• Extraordinary circumstances prevent reliable determination of the outcome.

In the event of cancellation, participants may claim their stakes at the market value of their open positions at the time of cancellation. This could result in a profit or a loss, depending on the price of their outstanding shares.