Will the US government shut down in 2023?
Market Rules
The budget of all 12 US federal agencies must pass in the US Congress by September 30th each year, so that the budget for the following fiscal year is defined. If it does not pass by that date, Congress may approve a continuing resolution with temporary money allocations until the budget is approved.
If no continuing resolution passes – or in case its deadline expires while there's still no definition of the budget – the US federal government may come to a so-called "shutdown", which puts many basic activities of the country on hold until there's a budgetary resolution.
The US government has already faced shutdowns in recent years for that reason. Might that happen again in 2023?
If by December 31st, 2023, at 23:59 EST, the US federal government officially enters a shutdown period - even if it lasts for only a few hours - this market will resolve to "Yes".