If Japan officially announces a snap election for its national legislature or head of government before Jan 1, 2026, then the market resolves to Yes.

A snap election announcement must be made by a person or body with legal authority to call elections in the specified country and must specify an actual election date. The election must be called to occur at least 90 days earlier than either the previously scheduled election date or the latest constitutionally required date. The announcement itself must occur before the deadline at 11:59 PM ET, regardless of when the election is scheduled. Examples that qualify include: Prime Minister dissolving parliament for early elections, President resigning triggering constitutionally-mandated early elections, votes of no confidence requiring new elections, or governing coalition collapse leading to early elections. Regional or local elections do not qualify - only national elections for the legislature or head of government count. If an announcement is later withdrawn or ruled invalid before expiration, the market resolves to No. Snap elections announced before market issuance but held after issuance do not qualify.

Series KXSNAPELECTIONJPN Event KXSNAPELECTIONJPN Market KXSNAPELECTIONJPN-26JAN01