This market predicts the outcome of the U.S. Supreme Court case 22-506 (Biden v. Nebraska), specifically related to President Biden’s student loan forgiveness plan. The Supreme Court will consider two key questions: (1) whether respondents have Article III standing, and (2) whether the plan exceeds the Secretary’s statutory authority or is arbitrary and capricious. The potential outcomes are:

	1.	Respondents Lack Standing: The Supreme Court rules that the respondents lack Article III standing, dismissing the case without ruling on the plan’s legality.

	2.	Plan Upheld: The Supreme Court rules that the respondents have standing and the plan neither exceeds the Secretary’s statutory authority nor is arbitrary and capricious.

	3.	Plan Struck Down: The Supreme Court rules that the respondents have standing and the plan either exceeds the Secretary’s statutory authority or is arbitrary and capricious.

	4.	Partial Upholding/Striking Down: The Supreme Court rules that the respondents have standing and upholds part of the plan while striking down other parts for exceeding the Secretary’s statutory authority or being arbitrary and capricious.

The market will resolve upon the publication of the Supreme Court’s final ruling on case 22-506. The market resolution will be based on the official ruling document provided by the Supreme Court.