The current President of the Brazilian Senate, Rodrigo Pacheco, announced last thursday his support for a Constitutional Amendment that ends reelection for all executive branch positions, such as the Presidency, State Governors or Mayors, while at the same time increasing term limits from 4 to 5 years.

This market resolves YES if, by the end of 2024, either this proposed Amendment or a similar piece of legislation is passed by the Congress which bans the reelection of future presidents. Also banning it for other executive branch positions is not necessary.

Sources:

• https://www.cnnbrasil.com.br/politica/em-embate-com-stf-senado-tambem-quer-discutir-fim-de-reeleicao/

• https://www.gazetadopovo.com.br/republica/apos-pressao-sobre-stf-fim-da-reeleicao-para-presidente-entra-no-radar-de-pacheco/