TOTAL VOLUME:
$154.8b
24H VOL:
$277,138,640
24H TRANSACTIONS:
2,984,640,614
OPEN INTEREST:
$1,905,404,943
412,077
Markets across
39,838
events
MATCHED EVENTS:
4,526
PLATFORM COVERAGE:
5
Polymarket:
37%
VS.
Kalshi:
63%
Closed: Oct 22, 10:32 AM EST
Polymarket
This market will resolve to "Yes" for each listed state that has D4 (Exceptional Drought) on 0.05% or more of its land area in the US Drought Monitor release for the week of October 20, 2026. Otherwise, this market will resolve to "No". D4 area below 0.05% is treated as cartographic noise at state borders and resolves "No". States appear only during the months in which they plausibly reach D4, so this event's roster changes through the year. 40 of the 48 coterminous states are in season for October: Alabama, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming. A state absent from this event is not making any claim about that state's drought — it simply has no market this week. Each USDM release covers the seven-day period ending Tuesday at 8:00 AM ET and is published the following Thursday. Resolution is based on the first published US Drought Monitor release for the listed week. The first published release is final, and that publication is the revisions cutoff; subsequent revisions will not be considered. In the case that the Resolution Source publishes data, sufficient to settle a Market, that is clearly erroneous and the result of technical or operational error, or of unauthorized interference with the Resolution Source or its data, the Market may remain open for a period of up to seven (7) calendar days (ET) from the time of the original release, in anticipation of a correction by the Resolution Source. If the Resolution Source publishes a corrected value within that period, that value will be eligible for resolution. If no corrected value is published within that period, Polymarket will issue a Clarification to determine whether the originally published value may be eligible for resolution, or whether other action is required to preserve the orderly functioning of the Market. Revisions remain subject to the cutoff above. The only exception is a correction of a clearly erroneous print under the preceding paragraph, which will be used even if published after the cutoff. If the US Drought Monitor has not been published by 11:59 PM ET on the day following the scheduled publication date, this market will resolve to "No". The resolution source for this market is the US Drought Monitor at droughtmonitor.unl.edu.
This market will resolve to "Yes" for each listed state that has D4 (Exceptional Drought) on 0.05% or more of its land area in the US Drought Monitor release for the week of October 20, 2026. Otherwise, this market will resolve to "No". D4 area below 0.05% is treated as cartographic noise at state borders and resolves "No". States appear only during the months in which they plausibly reach D4, so this event's roster changes through the year. 40 of the 48 coterminous states are in season for October: Alabama, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming. A state absent from this event is not making any claim about that state's drought — it simply has no market this week. Each USDM release covers the seven-day period ending Tuesday at 8:00 AM ET and is published the following Thursday. Resolution is based on the first published US Drought Monitor release for the listed week. The first published release is final, and that publication is the revisions cutoff; subsequent revisions will not be considered. In the case that the Resolution Source publishes data, sufficient to settle a Market, that is clearly erroneous and the result of technical or operational error, or of unauthorized interference with the Resolution Source or its data, the Market may remain open for a period of up to seven (7) calendar days (ET) from the time of the original release, in anticipation of a correction by the Resolution Source. If the Resolution Source publishes a corrected value within that period, that value will be eligible for resolution. If no corrected value is published within that period, Polymarket will issue a Clarification to determine whether the originally published value may be eligible for resolution, or whether other action is required to preserve the orderly functioning of the Market. Revisions remain subject to the cutoff above. The only exception is a correction of a clearly erroneous print under the preceding paragraph, which will be used even if published after the cutoff. If the US Drought Monitor has not been published by 11:59 PM ET on the day following the scheduled publication date, this market will resolve to "No". The resolution source for this market is the US Drought Monitor at droughtmonitor.unl.edu.
Currently, it's important to note that analyst forecasts regarding widespread drought conditions in 2026 are still developing. However, this market provides a real-time assessment of collective belief, reflecting what traders think is likely to happen. While early analyst projections might focus on broad trends, this market allows for a more granular view, assessing the probability of D4 drought in individual states. Discrepancies between this market and initial forecasts can highlight areas where the crowd anticipates conditions differing from expert opinions, potentially revealing overlooked factors.
On Polymarket, this market is priced through a continuous auction mechanism where traders buy and sell contracts representing their belief about the probability of Exceptional drought (D4) in each US state. The price of a 'yes' contract reflects the implied probability of that outcome. On Polymarket, prices reflect that venue's order book, liquidity, and how traders price the outcome right now. The market price adjusts dynamically based on supply and demand; increased buying pressure raises the price, indicating growing confidence in the drought occurring, while increased selling pressure lowers it. This creates a constantly updated forecast based on the aggregated wisdom of the crowd.
This market resolves around Oct 22, 2026, with the outcome determined by the US Drought Monitor's official map released for the week of October 20, 2026. The determination will be based on whether each state meets the criteria for Exceptional drought (D4) as defined by the US Drought Monitor. The outcome will be verified against credible public reporting from the US Drought Monitor and related government sources. Traders will then be able to claim their winnings based on the accuracy of their predictions in this market.
Several factors could significantly influence trading activity in this market. Major weather patterns, such as the development of a strong El Niño or La Niña event, would be closely watched. Long-range precipitation forecasts from organizations like the Climate Prediction Center will also be key drivers. Unexpected changes in water reservoir levels, particularly in drought-prone regions, could shift sentiment. Finally, any significant policy announcements related to water management or drought mitigation efforts could also move this market as traders adjust their expectations.