This market will resolve to "Yes" if any member state formally withdraws from NATO or provides an official notice of denunciation to NATO by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". A notice of denunciation refers to the submission of a notice of withdrawal as per Article 13 of the North Atlantic Treaty. A country's exit from NATO’s integrated military command structure will not be sufficient to resolve this market to "Yes". That country must either withdraw or submit a notice of denunciation to trigger a "Yes" resolution. The resolution source will be official information from the relevant government and NATO, however a consensus of credible reporting may also be used.