Territory of Essequibo confirmed as part of Guyana by the International Court of Justice (ICJ)?
Market Rules
In March 2018, Guyana filed an application with the International Court of Justice (ICJ) requesting the confirmation of the legal validity and binding effect of the arbitral award of 1899, historically denied by Venezuela. The region of Essequibo is at the center of a territorial controversy between Guyana and Venezuela, that entered a new chapter after the Venezuelan unilateral land claim after an electoral referendum in December 2023.
This market aims to predict if the International Court of Justice (ICJ) pronounces a sentence, in the trial of the case Guyana v. Venezuela, of 2018, confirming the validity and binding effect of the territorial arbitral award of 1899 to both countries. If the Court pronounces a confirmation to that disposition, then this market will be resolved as “Yes”.
If the ICJ rules on some but not all aspects of the territorial dispute, Futuur will use its discretion to determine whether this constitutes a 'Yes' resolution.
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Comments
- pedro_brito: The Market Rules don’t include any deadline, and “Yes” is tied to a final ICJ merits ruling confirming the validity/binding effect of the 1899 award. Since that final merits judgment hasn’t been issued yet, it seems the market may have been closed a bit early. Would you consider reopening it?