This market will resolve to "Up" if the official NASDAQ closing price for Microsoft Corporation (MSFT) on Tuesday, January 20, 2026 is higher than the official NASDAQ closing price for MSFT on the most recent prior trading day. This market will resolve to "Down" if the official NASDAQ closing price for Microsoft Corporation (MSFT) on Tuesday, January 20, 2026 is lower than the official NASDAQ closing price for MSFT on the most recent prior trading day. E.g., ordinarily, a market on Monday would refer to the previous Friday for its most recent closing price, unless that Friday were a market holiday, in which case it would refer to Thursday, or the next most recent trading day. If the two specified closing prices are exactly equal, this market will resolve 50-50. Note that all figures will be rounded to the nearest cent using standard rounding. If MSFT does not trade at all during the regular session, the market will resolve 50-50. If either of the relevant days are shortened (for example, due to a market holiday schedule), the official closing price published by NASDAQ for that shortened session will still be used for resolution. If either of the relevant days have no official closing price (for example, due to a trading halt into the market close, system issue, delisting, or other disruption), the market will use the last valid on-exchange trade price of the regular session as the effective closing price. The resolution source for this market is NASDAQ, specifically the exchange-certified Close values published at https://www.nasdaq.com/market-activity/quotes/historical.