President Erdoğan’s October 1, 2026, address to parliament launched preparatory discussions for a new civilian constitution, with top adviser Mehmet Uçum later framing October 1 as the start of intellectual groundwork rather than immediate drafting. Ruling alliance statements and recent comments from Uçum and parliamentary leaders indicate the substantive drafting and any required public vote are targeted for after the 2028 elections, during the next parliamentary term. The ruling bloc lacks the supermajority needed for parliamentary passage without opposition support, and ongoing “Terror-Free Türkiye” talks have not produced a timeline or draft advancing a 2026 referendum. These factors align with trader consensus that no referendum will be formally announced this year.
This market will resolve to “Yes” if a constitutional referendum in Turkey is officially announced by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”. Constitutional referendum refers to any nationwide vote in Turkey on whether to approve an amendment, or multiple amendments, to the Turkish Constitution. Officially announced refers to any announcement of a specific date for the referendum, or a definitive announcement that a referendum will be held (e.g. after a constitutional amendment has passed the parliament and been submitted to a referendum by the president). The primary resolution source for this market will be official information from the government of Turkey; however, a consensus of credible reporting may also be used.