TOTAL VOLUME:
$154.5b
24H VOL:
$271,200,656
24H TRANSACTIONS:
2,984,640,614
OPEN INTEREST:
$1,922,627,141
420,368
Markets across
40,352
events
MATCHED EVENTS:
4,484
PLATFORM COVERAGE:
5
Polymarket:
37%
VS.
Kalshi:
63%
Closed: Oct 23, 3:30 PM EST
Kalshi
This set of markets tracks potential movements in the yield of two-year U.S. Treasury notes by specific percentage thresholds on a set date. Each market represents a different yield level, allowing participants to speculate on whether interest rates will surpass various benchmarks. The outcomes are determined by actual yield data released on the specified day.
These markets collectively assess whether the par yield for the 2Y U.S. Treasury will exceed various specified thresholds on October 23, 2026. Each individual market has a unique threshold, ranging incrementally from 4.60% to 4.88%. If the published yield for that date meets or exceeds the threshold designated for a specific market, that market resolves positively. All markets share a common expiration protocol: they close at the earlier of two times—either 7:00 PM Eastern Time on the first business day following the official data release for October 23, 2026, or one week after October 23, 2026. This structure enables granular speculation on precise yield levels within a defined timeframe, with consistent timing rules across all thresholds.
Currently, prediction market odds reflect a different perspective than many traditional analyst forecasts for the 2-year Treasury yield. While many analysts predict a moderate increase in yields over the next two years, this market shows a wider range of potential outcomes being priced in by traders. It’s common to see discrepancies, as prediction markets incorporate a broader set of information and incentives than typical surveys or individual analyst reports. This difference highlights the unique insights offered by a forward-looking, incentivized forecasting mechanism like this market.
On Kalshi, this market is priced using a continuous double auction, meaning traders buy and sell contracts representing different yield levels. The price of each contract reflects the probability of that specific yield occurring on Oct 23, 2026. On Kalshi, prices reflect that venue's order book, liquidity, and how traders price the outcome right now. Traders are constantly adjusting their bids and asks based on new information and their own analysis, which drives the price discovery process. This creates a dynamic and efficient way to gauge market expectations for the 2-year Treasury yield, and the volume traded indicates the level of conviction behind those expectations.
This market resolves around Oct 23, 2026, with the outcome confirmed once the 2-year US Treasury yield is verifiable from credible public reporting. The yield will be sourced from a widely recognized financial data provider at the close of trading on that day. Traders will then be paid out based on whether their chosen contract’s yield level matches the actual yield at resolution. This allows for a transparent and objective determination of the market’s outcome, based on publicly available data.
Several key economic signals and events could significantly move this market. Changes in Federal Reserve policy, such as interest rate hikes or cuts, would have a substantial impact. Unexpected inflation data, strong or weak employment reports, and geopolitical events are also likely to influence trader sentiment. Furthermore, any shifts in the overall economic outlook or investor risk appetite could lead to significant price fluctuations in this market. Monitoring these factors will be crucial for understanding how the forecast for the 2-year Treasury yield evolves.