US defaults before 2029?

Before 2029 If the U.S. Department of the Treasury announces that the United States Federal Government failed to make a scheduled payment on a Treasury note, bond, or bill; or that one of the three major credit ratings agencies designate any United States debt in any form of default, before 2029, then the market resolves to Yes. Early close condition: If this event occurs, the market will close the following 10am ET. If this event occurs, the market will close the following 10am ET.