This market will resolve to "Yes" if there is an official ceasefire agreement, defined as a publicly announced and mutually agreed halt in military engagement, between Russia and Ukraine by December 31, 2025, 11:59 PM ET.

If the agreement is officially reached before the resolution date, this market will resolve to "Yes," regardless of whether the ceasefire officially starts afterward.

Any form of informal agreement will not be considered an official ceasefire. Humanitarian pauses will not count toward the resolution of this market.

This market's resolution will be based on official announcements from both Russia and Ukraine; however, a wide consensus of credible media reporting stating an official ceasefire agreement between Russia and Ukraine has been reached will suffice.

Only ceasefires which constitute a general pause in the conflict will qualify. Ceasefires which only apply to energy infrastructure, the Black Sea, or other similar agreements will not qualify.

On April 19, Vladimir Putin announced that “guided by humanitarian considerations, today from 18:00 to 00:00 from Sunday to Monday, the Russian side declares an Easter truce”. Per the rules, "humanitarian pauses will not count toward the resolution of this market". Thus, an 'Easter truce’, as it has been widely reported, will not qualify, even if reciprocated by Ukraine. An extension of a humanitarian pause constituting a ceasefire may qualify.