Proposition 45 is a California ballot measure currently scheduled for voting on November 3, 2026. It would amend the state’s landmark California Environmental Quality Act to create deadlines for environmental reviews of most housing, transportation, water, health and clean energy projects to speed up permitting and limit the court’s ability to stop or delay developments. This market will resolve to “Yes” if the specified ballot measure is approved by a majority of voters at the California statewide general election currently scheduled for November 3, 2026. Otherwise, this market will resolve to “No.” If voting on the specified ballot measure does not occur, or the results thereof are not known definitively, by March 31, 2027, this market will resolve to “No”. This market will resolve based on a consensus of credible reporting. If there is ambiguity, this market will resolve solely based on official information from the State of California, including the California Secretary of State (https://www.sos.ca.gov/).