An 'orbit' here is defined as a trajectory on which if no re-entry burn is fired Starship would remain in space for a period of over 24 hours (I don't want to get 'burned' by some sort of wacky sub-orbital flight that still lands at Starbase or in the Atlantic after one circumnavigation.
I will add an IFT 7 if Other is larger than any other option for a non-trivial period of time (and so on, by induction)
If SpaceX changes the naming convention, for example to OFT, this question will still apply.
If SpaceX announces before IFT 5 that IFT 6 will orbit, IFT 6 would be the one to resolve YES. If they did this I would still wait until before the (eg) #6 flight to check they didn't change it based on what happened in #5
@CommanderZander I believe this is a linked market and therefore only one can resolve YES, hence I assume this is intended to resolve to the first such test flight for which this is the case