- Will Macron call a referendum by December 31?7¢7%
Emmanuel Macron enters the final months of his presidency ahead of France’s 2027 presidential election, with attention centered on fiscal pressures, student protests, and EU budget negotiations rather than domestic constitutional initiatives. Recent statements have touched on long-discussed reforms such as embedding abortion rights, yet these remain proposals without scheduled parliamentary pathways or public timelines that would enable a national vote before December 31. Constitutional revision routes under Articles 11 or 89 require either legislative majorities or extended procedures that traders view as incompatible with the compressed calendar and Macron’s limited remaining mandate. The absence of fresh announcements or legislative momentum in October reinforces the prevailing trader assessment that no referendum will occur by year-end.
Rules
This market will resolve to "Yes" if Emmanuel Macron convenes the electorate for a nationwide referendum between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." To qualify, the Journal officiel de la République française must publish a presidential decree, signed by Emmanuel Macron, deciding to submit a text to a nationwide referendum, for example, through Article 11, Article 89, or via the référendum d’initiative partagée (RIP). Any such decree will qualify, even if the President did not support the initiative. A mere public announcement from Emmanuel Macron will not suffice. Any referendum initiated through any procedure not requiring a presidential decree will not qualify. If Emmanuel Macron ceases to be President of France before issuing a qualifying presidential decree, this market will resolve to "No" immediately. This market will resolve as soon as a qualifying decree is officially published, regardless of when and whether a referendum is held. The primary resolution source will be the Journal officiel "Lois et Décrets" on Légifrance (https://www.legifrance.gouv.fr/jorf/jo); however, a consensus of credible reporting will also be used.