Some resolution criteria:
Just needs to be sworn in as president - does not have to be elected (e.g., VP elevated because of the death of a President counts)
I'm going to go with the common understanding of the person's gender and race (e.g., Kamala Harris is commonly identified as a woman of color, Hillary Clinton is commonly identified as a white woman). If this becomes controversial enough that I don't think I can make a judgement as an outside observer, I'll cancel the market (I don't anticipate this happening, but you never know).
I'll resolve the market as soon as they're sworn in, so the first year it happens it will resolve.
If you think something funny is going to happen in the off years, then "other" is your friend. I will probably subdivide it periodically as I think there's interest.