This market will resolve to Yes if, after market creation (July 14, 2025) and before the S&P 500 ever closes at or above 6500, the S&P 500 Index closes at or below 6000 on any trading day.

• If the S&P 500 closes at or above 6500 on any trading day before it has closed at or below 6000, the market will resolve to No.

• If neither level is ever reached by the resolution date, the market resolves to No.

Data Source:

Official S&P 500 closing values published by S&P Dow Jones Indices and reported by reputable outlets (Bloomberg, Reuters, CNBC). https://www.cnbc.com/quotes/.SPX

Resolution Date: December 31, 2025, at 11:59 PM PT.