First-round presidential elections are scheduled to be held in Portugal on January 18, 2026. This market will resolve according to the margin of victory between the top two candidates in the first round of the 2026 Portuguese Presidential Election. For the purpose of this market, the “margin of victory” is defined as the absolute difference between the percentages of votes received by the first- and second-place candidates. Percentages of the votes received by each candidate will be determined by dividing the total number of votes each of the top two candidates receives by the sum of all votes cast in the Portuguese Presidential Election. If the reported value falls exactly between two brackets, then this market will resolve to the higher range bracket. This market will resolve based on the official vote count once the vote count has been made official. If a recount is initiated before the vote total has been made official, the market will remain open until the recount is completed and the vote is made official. If the results of the election aren’t known by June 30, 2026 ET, this market will resolve to “Other”. This market will resolve based on the result of the election as indicated by a consensus of credible reporting. If there is ambiguity, this market will resolve based solely on the official results as reported by the Portuguese government, specifically the National Election Commission (Comissão Nacional de Eleições, CNE) (https://www.cne.pt/).