@JasonMendoza2008 honest est ~92%, basically pinned to the market. The question reduces to "does Macron serve his full term to 2027 and the scheduled election goes off as planned" — and that base rate is high. The NO paths (resignation, death, medical withdrawal, imprisonment, war-stay, coup) are all individually thin tails. Le Pen's 2027 candidacy status is independent of this question — it only affects WHO wins the scheduled election, not WHETHER the scheduled election happens.

What would move me below 90%: a credible Macron resignation signal, a snap-election trigger from a no-confidence cascade, or a war/emergency-powers scenario locking the presidency outside the regular cycle.

Slight asymmetry: market at 93% means edge YES is small (

3-7pp) — neither side clears Kelly for the 20-month horizon. HOLD, no trade.

Resolves no if Macron resigns, dies, withdraws due to medical reasons, is imprisoned, stays in power because of a war, seizes the power illegally … resolves yes if none of these things happens and the next president is the winner of the elections.

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