https://www.admin.ch/gov/de/start/dokumentation/paquetsuisseue.html

(description therein available in DE/FR/IT, see top-right corner)

Popular vote on the matter expected in 2027/2028 by referendum. Its outcome determines market resolution, whatever the decided requirement (could be voter-only or voter-and-canton majority, will be settled when and if the vote is organized).

If no referendum takes place market resolves N/A (extremely unlikely, as largest party is dead set against the deal).