Market resolves when the bid is awarded by the IOC. (I'm not waiting another ~7 years just in case things change).

Market resolves to one answer, the exact country or set of countries awarded the games, this market will resolve to one entry. If the games are awarded to a joint Germany-Israel bid, neither "Germany" and "Israel" would be the answer, only "Germany & Israel" (in either order, that doesn't matter).

There doesn't seem to be any clarity yet on when these will be awarded. I updated the close date to the end of 2027 as a guess, and will close earlier or extend as necessary.