TOTAL VOLUME:
$147.3b
24H VOL:
$160,757,820
24H TRANSACTIONS:
2,798,566,680
OPEN INTEREST:
$1,796,460,506
516,586
Markets across
38,144
events
MATCHED EVENTS:
2,845
PLATFORM COVERAGE:
5
Polymarket:
38%
VS.
Kalshi:
62%
$
This event tracks whether core inflation in the United States, measured by the Consumer Price Index for All Urban Consumers excluding food and energy, will exceed various threshold levels over the twelve-month period ending in November 2026. Core inflation is a key economic indicator that excludes volatile food and energy prices to better reflect underlying price pressures in the economy.
Resolution is based on the Consumer Price Index for All Urban Consumers: All Items less Food and Energy year-over-year increase for the twelve months ending November 2026, as reported by the Bureau of Labor Statistics to one decimal place. The event encompasses multiple thresholds ranging from above 2.1% to above 3.5%, allowing participants to bet on different core inflation intensity levels. If a federal government shutdown delays the data release and impacts the reliability of the source agency, the market's expiration date will be extended to the sooner of the actual data release or six months after the shutdown ends.
On Kalshi, this market is priced using a continuous double auction. Traders buy and sell contracts representing different core inflation outcomes, and the prices of these contracts reflect the market’s probability assessment of each outcome. On Kalshi, prices reflect that venue's order book, liquidity, and how traders price the outcome right now. As more traders participate and new information becomes available, the prices adjust, providing a dynamic and real-time view of expectations. The price of a contract indicates the implied probability of that outcome occurring, and traders aim to profit by accurately predicting the future rate of core inflation.
This market resolves around Dec 10, 2026, with the outcome confirmed once the official November 2026 core CPI data is released and verifiable from credible public reporting. The core CPI rate used for resolution will be the year-over-year percentage change in the Consumer Price Index for All Urban Consumers (CPI-U), excluding food and energy. Traders will be looking closely at economic indicators released in the months leading up to the resolution date to refine their predictions and adjust their positions in this market.
Several key signals could significantly impact this market. Unexpected shifts in monetary policy by the Federal Reserve, such as changes to interest rates or quantitative easing, would likely cause price fluctuations. Major geopolitical events or supply chain disruptions could also influence inflation expectations. Furthermore, consistently surprising economic data releases – particularly those related to employment, wages, and producer price indices – will be closely watched by traders and could lead to substantial movements in the core inflation market. Any unexpected energy price shocks could also play a role.