If the Supreme Court, in West Virginia v. B.P.J. or Little v. Hecox, rules to uphold state laws restricting transgender athletes in sports, then the market resolves to Yes. The Payout Criterion for the Contract encompasses the Expiration Values that the Supreme Court of the United States has issued a decision in West Virginia v. B.P.J. or Little v. Hecox holding that the Equal Protection Clause or Title IX does not prohibit states from designating sports teams based on biological sex, after Issuance and before January 1, 2027. The market resolves to No if the Supreme Court affirms that such restrictions are unconstitutional or unlawful. If the cases are dismissed, settled, or otherwise disposed of without a merits decision regarding the validity of such laws before January 1, 2027, the market also resolves to No. This market will close and expire early if the event occurs.