TOTAL VOLUME:
$97.2b
24H VOL:
$177,903,386
24H TRANSACTIONS:
950,106,883
OPEN INTEREST:
$2,049,845,057
824,617
Markets across
14,701
events
MATCHED EVENTS:
899
PLATFORM COVERAGE:
5
Polymarket:
45%
VS.
Kalshi:
55%
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$20
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$500
This market tracks whether crude oil will reach a new all-time high through various price thresholds by the end of 2026. The consensus probability that WTI front-month crude will exceed $160 by December 31, 2026 stands at 30.0%, aggregated across Kalshi and Polymarket, with a secondary threshold of $115.01 showing 29.0% probability. Resolution will be determined by ICE's reported maximum WTI front-month settle price during the tracking period. Watch for major geopolitical developments and OPEC+ production decisions through year-end 2026, as these typically drive sustained crude price movements toward historical peaks.
This market will resolve to "Yes" if, on any trading day after market creation, the official daily high price published by the CME Group for the Active Month (front month) of CME Crude Oil (CL) futures is greater than $147.27 by the final trading day on or before the specified date. Otherwise, this market will resolve to "No". For CME Crude Oil (CL) futures contracts, the active month is the nearest of the contract months listed. The active month becomes a non-active month effective two business days prior to the spot month expiration. For example, if the spot month expires on a Friday the next listed contract will be considered the Active Month on the Wednesday prior to the spot month expiration. This market will resolve as soon as a high price greater than the listed value is published, or once finalized data for the final trading day of the specified time period is published and a high price greater than $147.27 has not been achieved. The resolution source for this market is the CME Group website (https://www.cmegroup.com/markets/energy/crude-oil/light-sweet-crude.quotes.html) — specifically, the daily "High" prices for the Active Month of Crude Oil (CL) futures.
Resolution is based on the maximum WTI front-month settle price reported by ICE between issuance and December 31, 2026. Each outcome resolves to Yes if the maximum price exceeds the specified threshold during this period. Thresholds range from $115 up to $200 per barrel, with increments varying from $5 to $20. ICE front-month settle prices serve as the exclusive data source for determining the maximum price achieved.
Prediction market odds reflect real-money consensus from thousands of traders on Polymarket and Kalshi, often incorporating forward-looking sentiment faster than traditional analyst reports. While sell-side energy analysts typically publish quarterly outlooks based on supply-demand models and geopolitical risk, prediction markets price in live information and tail risks. Market odds on this event serve as a crowdsourced probability estimate that can validate or challenge consensus forecasts, particularly useful for traders seeking alternative views on crude oil's potential to breach historical highs by Jan 1, 2027.
Polymarket and Kalshi can show different implied probabilities for the same outcome because of liquidity, fee structure, participant mix, and how each venue defines the contract. Polymarket and Kalshi may price the same crude oil outcome differently due to variations in user base composition, liquidity depth, and outcome specificity. Polymarket's top outcome targets a specific price level by a defined date, while Kalshi frames the question around a broader timeframe. Differences in trading hours, fee structures, and regional trader participation can also create temporary spreads. Arbitrage opportunities and platform-specific risk tolerances drive these discrepancies, making cross-platform comparison valuable for identifying mispricings.
Major catalysts include OPEC production decisions, geopolitical tensions in oil-producing regions, US inventory reports, and macroeconomic shifts affecting energy demand. Recession fears or dollar strength typically pressure crude lower, while supply disruptions or inflation concerns support higher prices. Central bank policy, renewable energy adoption rates, and seasonal demand patterns also influence crude trajectories. Traders monitor weekly EIA data, Fed communications, and Middle East developments closely, as any shock to supply or demand could rapidly shift market odds on whether crude reaches a new all-time high by Jan 1, 2027.
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