If John Tory wins the 2026 Toronto mayoral election, then the market resolves to Yes. For presidential or direct elections, the candidate who wins according to the electoral system (electoral college, popular vote, or runoff as applicable) and either (i) is inaugurated/sworn in/takes office, or (ii) the scheduled inauguration date passes without a different candidate taking office is the winner. <p>The market resolves based on the official certification or declaration by the relevant electoral authority. Contested results are resolved based on the final certified outcome by the appropriate electoral authority or highest court with jurisdiction. In cases of competing claims (two presidents, disputed succession), the individual recognized by the hierarchical majority of Source Agencies prevails. The market remains open until the rescheduled election or two years from the original date, whichever comes first. Repeated postponements count towards the 2-year deadline. If results are annulled by a court/authority AFTER announcement but BEFORE the winner takes office, the Contract remains open until re-run election or expiration.</p> This market will close and expire early if the election winner is officially declared or certified.