A referendum to alter the constitution in Australia must achieve a double majority in order to pass - it must be approved by a majority of those voting, and also separately it must be approved by a majority of voters in a majority of states (at least 4 out of 6 states).

If a majority of voters in all of each of the 6 states vote YES in the referendum, this market will resolve to YES.

If there is at least one state in which YES voters did not make up the majority of the vote, this market will resolve to NO.