It has to be a coalition - no party has ever won a clear majority in my lifetime, if ever. The question is, which parties will make up the majority, and who they’ll choose as Prime Minister. Right now there’s a clear division between pro-Netanyahu parties and anti-Netanyahu parties, but once the political dealmaking starts, who knows what’ll happen. The most exciting time in in Israeli politics is in the weeks after an election.
Exit polls will be published at 10 PM Israel time (4 PM Eastern) after voting ends; actual results will start coming in then and we’ll know for sure by tomorrow morning.