California Billionaire Wealth Tax Referendum: Passes?

This market will settle to Yes if a measure, initiative, or proposition which would initiate a one-time tax on billionaires is approved by the numerical threshold of voters in California required for it to pass at the 2026 midterm elections. Outcome sourced from the government of California. Proposition 40, which would qualify, currently requires a simple majority of votes to approve for passage. The passage or non-passage of additional conflicting measures will not affect the outcome of this market.