Will the California redistricting referendum not pass?

Proposition 50 is a 2025 legislatively referred constitutional amendment on congressional redistricting, proposed for the statewide special election in California currently set for November 4, 2025. This market will resolve according to the margin by which Proposition 50 or any other legislatively referred statewide measure that authorizes or implements congressional redistricting is approved by a majority of voters at the California statewide special election currently set for November 4, 2025. For the purpose of resolving this market, the “margin” is defined as the absolute percentage-point difference between the certified statewide vote share in favor (“pro”) minus the certified statewide vote share against (“contra”) the proposition. If the reported value falls exactly between two brackets, this market will resolve to the higher range bracket. If Proposition 50 does not receive more pro than contra votes, this market will resolve to the lowest range bracket. If by the last legally operative deadline for placing measures on the November 4, 2025 statewide ballot—including any deadline set or modified by the statute calling that special election—no qualifying legislatively referred measure has been approved for submission to voters, and there is no enacted statute or pending court order that could still place such a measure on that ballot, the market will resolve to the lowest range bracket. If the election is officially rescheduled, the same rule applies to the new ballot and its corresponding deadlines. The resolution source will be based on the official certified results of the vote as published by the State of California. Subsequent litigation, administrative challenges, or failure of any post-approval triggers will not be considered.