TOTAL VOLUME:
$142.4b
24H VOL:
$104,871,197
24H TRANSACTIONS:
2,643,541,936
OPEN INTEREST:
$1,592,701,755
469,827
Markets across
35,657
events
MATCHED EVENTS:
2,899
PLATFORM COVERAGE:
5
Polymarket:
38%
VS.
Kalshi:
62%
$
This market tracks the probability of a marketwide circuit breaker being triggered on the New York Stock Exchange before 2027. Currently, the consensus probability of this occurring, as aggregated from Polymarket and Kalshi, is 8.5%. Resolution will be based on official information from the NYSE, with credible reporting used as a secondary source. Keep an eye on the S&P 500 Index as the January 1, 2027 date approaches, as this marks the end of the betting period for whether a qualifying circuit breaker event will have occurred.
This market will resolve to "Yes" if a marketwide circuit breaker is triggered on the New York Stock Exchange (NYSE) at any time between November 7, 2025, and December 31, 2026. Otherwise, this market will resolve to “No”. A marketwide circuit breaker is defined as a trading halt that is initiated due to significant declines in the S&P 500 Index, specifically a Level 1, Level 2, or Level 3 halt as per NYSE rules. The primary resolution source for this market will be official information from the NYSE, however a consensus of credible reporting will also be used.
If any New York Stock Exchange marketwide circuit breaker is imposed after December 9, 2025 and before Jan 1, 2027, then the market resolves to Yes.
Prediction market prices, like those found in this market, often reflect a ‘wisdom of the crowd’ that can differ from traditional analyst forecasts. Analysts may be influenced by biases or institutional constraints, while prediction markets aggregate diverse perspectives through incentivized trading. While a direct comparison is complex, the implied probabilities in this market can offer a valuable, alternative gauge of risk perception. It's important to note that prediction markets are forward-looking, incorporating new information quickly, which may not always be reflected in slower-moving analyst reports.
On Polymarket, this market is priced by traders expressing their beliefs about the likelihood of an event, while Kalshi uses a similar mechanism. Differences in price can arise from several factors. 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. Each platform attracts a different user base with varying risk appetites and information sets. Trading volume and liquidity can also influence prices; higher volume typically leads to tighter spreads. Furthermore, subtle differences in market design or user interface can contribute to price discrepancies. Currently, Polymarket currently favors NYSE marketwide circuit breaker before 2027? at 7.5%, while Kalshi leans toward Will a NYSE marketwide circuitbreaker happen before 2027? at 7.5%.
This market resolves around Jan 1, 2027, with the outcome confirmed once the event is verifiable from credible public reporting. Specifically, the resolution will depend on whether the New York Stock Exchange officially declares a marketwide circuit breaker, as defined by its established rules, before the specified date. The outcome will be based on publicly available information from the NYSE and related regulatory bodies, ensuring transparency and objectivity in determining the result of this market.
Several factors could significantly impact the price of this market. Unexpected macroeconomic data releases, such as inflation reports or interest rate decisions, could increase market volatility and the perceived risk of a circuit breaker. Geopolitical events, like international conflicts or trade disputes, could also trigger sharp market declines. Additionally, significant corporate earnings surprises or regulatory changes impacting major financial institutions could contribute to increased uncertainty. Any news suggesting systemic risk within the financial system would likely cause a substantial shift in this market’s price.