On December 14, 2020, the United States imposed CAATSA sanctions on Turkey’s Presidency of Defense Industries (SSB) in response to Turkey’s acquisition of the Russian S-400 air defense system (see: https://2017-2021.state.gov/the-united-states-sanctions-turkey-under-caatsa-231/). On July 7, 2026 U.S. President Donald Trump indicated his intent to lift ​sanctions off Turkey(see: https://www.reuters.com/world/middle-east/trump-says-will-lift-turkey-sanctions-decide-selling-f-35s-2026-07-07/)

This market will resolve to “Yes” if the United States federal government issues a waiver, license, termination, revocation, or equivalent sanctions-relief mechanism lifting CAATSA sanctions on Turkey, Turkey’s Presidency of Defense Industries (SSB), or covered Turkish officials by the specified date, 11:59 PM ET. Otherwise this market will resolve to “No”.

Actions which direct partial or full sanction relief will both qualify. However, qualifying actions must reverse, remove, waive, terminate, or suspend US penalties imposed on Turkey, SSB, or covered Turkish officials under CAATSA Section 231, in whole or in part.

Qualifying actions need not be permanent; temporary suspensions of sanctions will qualify. Relief issued for either entity-level sanctions or individual sanctions will qualify. The full removal of any CAATSA sanction imposed on Turkey, SSB, or covered Turkish officials will also qualify.

Actions affecting only separate legal restrictions, including restrictions on F-35 transfers to Turkey under the National Defense Authorization Act, will not qualify unless they also include a qualifying CAATSA sanctions-relief action. Mere statements of intent, negotiations, or announcements that sanctions may be lifted in the future will not qualify without issuance of a qualifying sanctions-relief action.

Once a qualifying sanctions relief action has been taken, this market will resolve to “Yes,” regardless of any subsequent revocation.

The primary resolution source for this market will be official information from the United States federal government.

December 31

October 31

July 31

US lifts CAATSA sanctions on Turkey by...?

The Makkah Joint Defence Agreement (also known as the Makkah Accord or Mecca Joint Defense Agreement) is a collective-defense agreement signed by Saudi Arabia, Türkiye, and Pakistan on August 7, 2026, under which an armed attack against any one of the three countries is regarded as an attack against them all. The agreement has subsequently been described by its signatories as open to additional countries.

This market will resolve to “Yes” if any country other than Saudi Arabia, Türkiye, or Pakistan formally joins the Makkah Joint Defence Agreement by the specified date, 11:59 PM ET. Otherwise, this market will resolve to “No”.

A country will be considered to have formally joined if either of the following occurs:

the country signs the Agreement or a formal accession protocol or instrument that, by its terms or official characterization, makes it a party, member, or signatory; or
the country and the Agreement’s existing parties officially announce, jointly or separately, that the country has become a party, member, or signatory.

Statements of intent, applications, invitations to join, negotiations, parliamentary authorization, approval in principle, or general defense cooperation will not qualify. A separate bilateral or multilateral defense agreement will not qualify unless it is officially identified as accession to the Makkah Joint Defence Agreement.

Once a qualifying accession has occurred, this market will resolve to “Yes,” regardless of any subsequent withdrawal, suspension, reversal, or termination.

The primary resolution sources for this market will be official information from the governments of Saudi Arabia, Türkiye, Pakistan, and any country reported to have joined; however, a consensus of credible reporting may also be used.

Will any country join the Mecca Agreement by...?

This market will resolve to "Yes" if there is a military encounter between the military forces of Israel and Turkey by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

A "military encounter" is defined as any incident involving the use of force such as missile strikes, artillery fire, exchange of gunfire, or other forms of direct military engagement between Isreali and Turkish military forces. Non-violent actions, such as warning shots, artillery fire into uninhabited areas, or missile launches that land in territorial waters or pass through airspace, will not qualify for a "Yes" resolution. Intentional ship ramming that results in significant damage to (e.g., a hole in the hull) or the sinking of a military ship by another will count toward a "Yes" resolution, however minor damage (scrapes, dents) will not.

The resolution source for this market will be a consensus of credible reporting.

Israel x Turkey Clash

Israel x Turkey military clash before 2027?

This market will resolve to “Yes” if Recep Tayyip Erdoğan ceases to be President of the Republic of Türkiye for any period of time between market creation and the specified date (ET). Otherwise, this market will resolve to “No”.

An announcement of Recep Tayyip Erdoğan's resignation/removal before this market's end date will immediately resolve this market to "Yes", regardless of when the announced resignation/removal goes into effect.

If the specified individual is detained, effectively removed from the specified position, or otherwise permanently prevented from fulfilling the duties of the specified position within this market’s timeframe, it will qualify for a “Yes” resolution.

The resolution source for this market will be official information from Recep Tayyip Erdoğan and the government of Türkiye; however, a consensus of credible reporting may also be used.

Erdoğan out

Erdoğan out by December 31, 2026?

The Makkah Joint Defence Agreement (also known as the Makkah Accord or Mecca Joint Defense Agreement) is a collective-defense agreement signed by Saudi Arabia, Türkiye, and Pakistan on August 7, 2026, under which an armed attack against any one of the three countries is regarded as an attack against them all. The agreement has subsequently been described by its signatories as open to additional countries.

This market will resolve to “Yes” if the listed country formally joins the Makkah Joint Defence Agreement by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”.

The listed country will be considered to have formally joined if either of the following occurs:
- the country signs the Agreement or a formal accession protocol or instrument that, by its terms or official characterization, makes it a party, member, or signatory; or
- the country and the Agreement’s existing parties officially announce, jointly or separately, that the country has become a party, member, or signatory.

Statements of intent, applications, invitations to join, negotiations, parliamentary authorization, approval in principle, or general defense cooperation will not qualify. A separate bilateral or multilateral defense agreement will not qualify unless it is officially identified as accession to the Makkah Joint Defence Agreement.

Once a qualifying accession has occurred, this market will resolve to “Yes,” regardless of any subsequent withdrawal, suspension, reversal, or termination.

The primary resolution sources for this market will be official information from the governments of Saudi Arabia, Türkiye, Pakistan, and the listed country; however, a consensus of credible reporting may also be used.

United Arab Emirates

Kuwait

Qatar

Which countries will join the Mecca Agreement by December 31?

This market will resolve to "Yes" if Turkey officially announces early presidential elections to occur before the currently scheduled 2028 Turkish presidential election, between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

A qualifying announcement requires an official public announcement by the Turkish government, the Presidency of Turkey, the Grand National Assembly of Turkey, or the Supreme Election Council of Turkey (YSK) establishing, approving, scheduling, or formally initiating a presidential election to occur before the currently scheduled 2028 election.

Announcements of discussions, proposals, negotiations, speculation, or calls for early elections by politicians, parties, media, or commentators, without official action to schedule or initiate such elections, will not qualify.

If early presidential elections are officially announced before the resolution date, this market will resolve to "Yes" regardless of whether the elections are later postponed, canceled, or ultimately held.

The primary resolution source for this market will be official information from Turkish government authorities or the Supreme Election Council of Turkey (YSK); however, a consensus of credible reporting may also be used.

Will Turkey schedule early presidential elections in 2026?

This market will resolve to "Yes" if there is a military engagement between the military forces of Greece and Turkey by June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

A "military engagement" is defined as any incident involving the use of force such as missile strikes, artillery fire, exchange of gunfire, or other forms of direct military engagement between Greek and Turkish military forces. Non-violent actions, such as warning shots or missile launches that land in territorial waters or pass through airspace, will not qualify for a "Yes" resolution. Intentional ship ramming that results in significant damage to (e.g., a hole in the hull) or the sinking of a military ship by another will count toward a "Yes" resolution; however, minor damage (scrapes, dents) will not. 

Missiles or drone strikes that are intercepted will not qualify, regardless of whether they land on adversarial territory or cause damage. Similarly, surface-to-air missile strikes impacting adversarial territory will not qualify for a "Yes" resolution (although surface-to-air missiles fired at an adversarial military aircraft would qualify).

The resolution source for this market will be a consensus of credible reporting.

This market will resolve to "Yes" if there is a military engagement between the military forces of Greece and Turkey by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

A "military engagement" is defined as any incident involving the use of force such as missile strikes, artillery fire, exchange of gunfire, or other forms of direct military engagement between Greek and Turkish military forces. Non-violent actions, such as warning shots or missile launches that land in territorial waters or pass through airspace, will not qualify for a "Yes" resolution. Intentional ship ramming that results in significant damage to (e.g., a hole in the hull) or the sinking of a military ship by another will count toward a "Yes" resolution; however, minor damage (scrapes, dents) will not. 

Missiles or drone strikes that are intercepted will not qualify, regardless of whether they land on adversarial territory or cause damage. Similarly, surface-to-air missile strikes impacting adversarial territory will not qualify for a "Yes" resolution (although surface-to-air missiles fired at an adversarial military aircraft would qualify).

The resolution source for this market will be a consensus of credible reporting.

June 30

Greece x Turkey military engagement by...?

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.

Turkish Constitutional Referendum announced in 2026?

This market will resolve to “Yes” if a referendum to adopt a new constitution in Turkey is officially announced by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No”.

A qualifying referendum refers to any nationwide vote in Turkey to adopt a new constitution. Referenda to approve one or more amendments to the Constitution will not qualify. 

Qualifying announcements must specify a date for the referendum or definitively announce that a referendum will be held. An announcement by the specified date will qualify regardless of when the referendum is scheduled to be held.

If a new constitution is officially adopted within the specified timeframe without a referendum (e.g., via the required parliamentary supermajority), this market will immediately resolve this market to “Yes.”

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.

Will Turkey Move on a New Constitution in 2026?

This market will resolve to "Yes" if Ekrem İmamoğlu is released from custody between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

If Ekrem İmamoğlu is released but remains under house arrest, the market will still resolve to "Yes".

If Ekrem İmamoğlu is released on parole, bond, or any other condition that results in him leaving state custody, the market will resolve to "Yes".

Transporting Ekrem İmamoğlu to another location of custody (e.g., a different prison, court, or hospital within the correctional system) will not suffice to resolve this market to "Yes".

Temporary outings from prison for purposes such as testifying in court or before Congress, while still under the custody of correctional authorities, will not count as a release.

The primary resolution source for this market will be official information from government authorities or corrections departments; however, a consensus of credible reporting may also be used.

Ekrem İmamoğlu released from custody in 2026?

This market will resolve to “Yes” if Turkey becomes formally included in the F-35 program between market creation and the specified date, 11:59 PM ET. Otherwise, this market will resolve to “No”.

Turkey will be considered formally included in the F-35 program if any of the following occur:
- Turkey is officially listed by the F-35 Joint Program Office as an F-35 Partner;
- Turkey is officially listed by the F-35 Joint Program Office as an F-35 Foreign Military Sales Customer; or
- the United States federal government officially announces that Turkey has signed or accepted a Foreign Military Sales Letter (FMS) of Offer and Acceptance (LOA) for F-35 aircraft or F-35 components.

Statements of intent, negotiations, sanctions relief, waiver or certification of legal restrictions, congressional notification, or general announcements that the United States supports or is considering an F-35 sale to Turkey will not qualify unless one of the above conditions is met.

Once a qualifying action has occurred, this market will resolve to “Yes,” regardless of any subsequent reversal, suspension, or cancellation.

The primary resolution source for this market will be official information from the F-35 Joint Program Office and the United States federal government; however, a consensus of credible reporting will also be considered.