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 Victoria vote YES in the referendum, this market will resolve to YES.
If a majority of voters in Victoria do not vote YES in the referendum, this market will resolve to NO.
If the referendum is not held, this market will resolve to N/A.
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@Tripping Yes, though I generally think markets like this shouldn't wait for counting to finish 100%. They're probably all mathematical certainties given the votes counted so far, and even if they weren't I think resolving once experts have called the result is reasonable - you can request re-resolution in the vanishingly unlikely case that resolution was wrong.
In any case I think I saw Antony Green write that Friday this week is a deadline of some sort, so counting should be done soon.
On the AEC tallyroom page it looks like two polling places in QLD and one in NSW aren't complete:
https://tallyroom.aec.gov.au/ReferendumUpdatedByDivision-29581.htm
@YairNeumann you'd be surprised: although Victoria's running ahead of the national polling average, support has dropped to such an extent even the "most progressive state" is sitting on ~46% Yes.