The Biden/McCarthy deal to raise the debt ceiling has been agreed and the Fiscal Responsibility Act of 2023 is due to be voted on by the House as soon as Wednesday 31st May. Predictors are currently suggesting that it will pass comfortably:
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Once the bill has passed the house, it will need to be voted on by the Senate. This is expected to happen on Thursday or Friday, but the close date of this market will be extended if the vote is delayed.
Once it comes to a vote, will at least 70 Senators vote Yes on the first vote?
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The market will resolve to N/A in the event that there is no vote, either because the bill does not advance from the House or because the Senate does not hold a vote on it.