How many upsets in first round of NCAA Tournament?

This market will resolve based on the number of “upsets” that occur in the first round of the 2025 March Madness Tournament. An “upset” is defined as a team with a lower seed that defeats a team with a higher seed. First Four play-in games will not count for the resolution of this market. If for any reason the first round is not completed by May 31, 2025, 11:59 PM ET, this market will resolve to "other". The resolution source for this market will be information from the NCAA.