Following Pope Francis passing away on Easter Monday, the Catholic Church has entered a period of sede vacante as cardinals prepare for the upcoming conclave. Who will be elected as the next Pope?

Market Closing: May 19, 2025 at 11:59pm CEST

Resolution Time: The market may be resolved during the market period or after it has closed, whenever the outcome is conclusively determined.

Resolution

• The market will resolve based on official announcements from Vatican News, the Holy See's official news portal.
• The outcome will be determined when a new Pope is formally elected, accepts the position, and chooses his papal name following a valid conclave.

Cancelation Conditions

The market will be canceled if:

• The conclave process is interrupted or invalidated
• Any extraordinary circumstances prevent a clear 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.