The market resolves to whichever horse is declared the official winner in the 2025 Lexus Melbourne Cup, run over 3,200 metres at Flemington Racecourse on 4 November 2025 at 3:00 PM AEDT. Resolution can be verified via official VRC results at 

 or major Australian racing media outlets. Resolves Yes to Winner.

If Horse is scratched, fails to finish or doesn't win, resolves No. Only Winner resolves Yes.

The 2025 Melbourne Cup is the 165th running of this Australian thoroughbred horse race, with total prize money of A$10 million. The Melbourne Cup field consists of 24 horses with no emergencies. Al Riffa is the current favourite after winning the Irish St Leger, with Caulfield Cup winner Half Yours next in betting. Northern Hemisphere breeding has dominated recent Melbourne Cups, producing 16 of the last 25 Cup champions.

Visit Flemington Racecourse, home of the world-renowned Melbourne Cup Carnival and Victoria Racing Club and the  Lexus Melbourne Cup, the race that stops the nation.