TOTAL VOLUME:
$154.4b
24H VOL:
$230,589,906
24H TRANSACTIONS:
2,984,028,936
OPEN INTEREST:
$1,885,293,300
410,482
Markets across
40,213
events
MATCHED EVENTS:
4,340
PLATFORM COVERAGE:
5
Polymarket:
37%
VS.
Kalshi:
63%
Closed: Oct 16, 5:00 PM EST
Kalshi
This set of markets tracks the performance of the USDJPY currency pair at a specific future date and time. Each market has a different threshold value, and the outcome depends on whether the exchange rate exceeds that threshold at the specified moment.
All markets resolve based on the USDJPY exchange rate's opening candlestick value at 5pm ET on October 16, 2026, as published by Pyth. For each market, if the rate is above the specified threshold at that exact time, the market resolves to 'Yes'; otherwise, it resolves to 'No'. The resolution uses the most recent available data from Pyth if no value is published at exactly 5pm ET. Post-expiration revisions to the underlying data are disregarded, and all rates are rounded to four decimal places for evaluation. This consistent framework applies uniformly across all thresholds defined in the individual markets.
Currently, prediction market odds often reflect a different perspective than traditional analyst forecasts. While analysts may base their predictions on economic models and historical data, this market represents the collective wisdom of traders responding to a wider range of factors, including real-time news and perceived market sentiment. It’s common to see discrepancies between the two, as traders may weigh certain information differently or anticipate unexpected events impacting the USDJPY exchange rate. Examining these differences can provide valuable insights into market expectations.
On Kalshi, this market is priced using a continuous double auction, meaning buyers and sellers submit bids and offers, and the market price fluctuates based on supply and demand. Traders are essentially betting on where they believe the USDJPY exchange rate will be at the specified time. On Kalshi, prices reflect that venue's order book, liquidity, and how traders price the outcome right now. The price reflects the consensus view of all participants, and the volume traded indicates the level of confidence in those predictions. As more traders participate, the price tends to become more efficient and accurate, reflecting a more informed assessment of the potential outcomes.
This market resolves around Oct 16, 2026, with the outcome confirmed once the USDJPY exchange rate is verifiable from credible public reporting. The final price will be determined by a widely-recognized and publicly available source for the exchange rate at 5:00 PM EDT on October 16th. Traders will then be paid out based on whether their predictions aligned with the actual exchange rate at the time of resolution. The market’s resolution is designed to be objective and transparent, ensuring a fair outcome for all participants.
Several key signals and events could significantly move this market before Oct 16, 2026. Major economic data releases from the United States and Japan, such as inflation reports, employment figures, and GDP growth, are likely to have a substantial impact. Unexpected geopolitical events or shifts in monetary policy by the Federal Reserve or the Bank of Japan could also trigger significant price movements. Furthermore, any surprising news related to global trade or risk sentiment could influence traders' expectations for the USDJPY exchange rate, leading to volatility in this market.