A concession requires the candidate to explicitly acknowledge defeat, loss, or that their opponent has won the race. Qualifying statements include "concede," "congratulate [opponent] on their victory," "accept the results," "will not be [office holder]," or other unambiguous acknowledgments of defeat. Suspending or ending a campaign without acknowledging defeat, conditional statements, or conceding only partial results do not qualify. If a candidate makes a concession statement and then retracts it before the deadline, the market still resolves to Yes. Death or incapacitation resolves the market to the last fair traded price.