KALSHI · CFTC-CLEARED BINARY CONTRACT · ELECTIONS

Will J.B. Pritzker be the Democratic Presidential nominee in 2028?

YES · live

4.1¢

NO · live

95.8¢

▸ Advanced metrics · M2M bundle

kalshi · kxpresnomd-28-jbp · fresh · feed 52s old

24h sparkline · 60 pts▼ -4.65%

realized vol (ann.)

11.96%

max drawdown

9.30%

sharpe

—

ulcer index

2.70%

RMS drawdown

pain index

1.29%

mean drawdown

mod. VaR 95%

0.00%

Cornish-Fisher

martin ratio

—

ret / ulcer

CDaR 95%

5.24%

cond. drawdown

gain/pain

0.67

Σgain / Σ|loss|

sterling

—

ret / CDaR

omega (θ=0)

0.67

upside/downside

roll spread

1.3 bps

implied (price-only)

bars used

737

store

spread

241.0 bps

24h Δ

-4.65%

flow lean

—

carry

flat

signalNEUTRALconfidence 25%

24h change -4.65%

Same bundle via M2M API: /api/m2m/kalshi-kxpresnomd-28-jbp/bundle · venue execution: kalshi →

LIVEPOLL0SRCWARMING51.8s⏱--:--:-- UTCNEXT8.0sUP0s--:--HIST0/30

▶ STREAMING·HYPERLIQUID·POLYMARKET·0 POLLS·SRC WARMING·UPTIME 0s·NEXT POLL 8.0s·CC0 OPEN DATA·HYPO.MARKETS·▶ STREAMING·HYPERLIQUID·POLYMARKET·0 POLLS·SRC WARMING·UPTIME 0s·NEXT POLL 8.0s·CC0 OPEN DATA·HYPO.MARKETS·

YES · live

4.1¢

NO · live

95.8¢

YES price · live 24h (Kalshi candlesticks)

no history

YES / NO split · live

Σ 99.95% · fair

Σ-sides total = 99.95% (tight rounding)

H(p) entropy = 0.247 / 1.00 bits (25%) · informative — one side favoured

YES

4.1%4.1¢24.39×▬ +0.00pp

95.9%95.8¢1.04×▬ +0.00pp

Σ 99.95% · arb gap 0.05pp

Live numerics · pulse on poll

LIVE NUMERICS9 metrics·POLL 0

⏱snapshot age

51.8s

·ticker

KXPRESNOMD-28-JBP

▲YES bid

4.10¢

▲YES ask

4.20¢

ΣΣ sides

99.95%

⚖arb gap

0.050pp

$24h vol $

$29.1

◐open interest $

$2.9M

◳history points

0 bars (live)

§1 · Quote

Ticker: KXPRESNOMD-28-JBP
Event ticker: KXPRESNOMD-28
YES bid / ask: 4.10¢ / 4.20¢ (spread 0.10pp)
NO bid / ask: 95.80¢ / 95.90¢
Last YES: 4.10¢
Σ-sides: 99.95% (arb gap 0.05pp)

§2 · Activity

Volume 24h: $29.08
Volume total: $178.05k
Open interest: $2.88M
Liquidity: $0.00
Close time: 2028-11-07T15:00:00Z · 877.0d from now
Status: active

§3 · Resolution rules

If J.B. Pritzker wins and accepts the nomination for the Presidency for the Democratic party, then the market resolves to Yes.

▸ Depth section using sovereign-store price series (737 bars · effective 350734 bars/year) — annualisation reflects native polling cadence, not upstream timeframes.

§4 · Honest position analytics

A binary-market analytics module framed in horizon time (days to resolution, not annualised). Estimators that need a model probability q as a first-class input (Kelly, KL divergence, Bayesian posterior, Mark-to-Market MC) only render when q is provided externally. Sweep an exploratory q at the interactive simulator →

§5 · Horizon returns

Returns · per bar / per day / per horizon

Horizon 877.0 d · σ/bar 0.020pp · expected |Δp| over horizon 2.93ppterminal variance p(1−p) = 0.0393 · n = 737✓ n = 737

μ per bar

-0.000pp

average Δp · drift

σ per bar

0.020pp

one-bar volatility · logit-free

Per-day movedaily

0.10pp

σ × √24

Per-horizon move877d

2.93pp

σ × √21047.616804444446

Terminal variancebinary

0.0393

p(1−p) at resolution

Current pricep

4.1¢

latest snapshot

Note: annualised Sharpe/Sortino are omitted — they are not meaningful for a bounded fixed-horizon binary contract that snaps to {0, 1} at resolution.

Annualised metrics are intentionally omitted — they don't apply to bounded probability series that resolve at a fixed date.

§6 · Tail risk

VaR · ES · max drawdown

VaR₉₅ 0.03pp · ES₉₅ 0.04pp · method parametric · drift-correcteddrift -0.000pp/bar · quantised: yes · median step 0.10pp · unique ratio 0.01✓ n = 737

VaR 95%

0.03pp

1.645·σ (parametric) of Δp

ES 95%

0.04pp

mean of the tail

Max drawdown

9.3pp

peak 4.3¢ → trough 3.9¢

Median step

0.10pp

price bucket granularity

Price series is bucketed (cent grid). Empirical quantiles collapse to grid points — parametric N(0, σ²) used instead.

Empirical quantiles unless the price series is bucketed (PM cent grid), in which case parametric N(0, σ²) is used to avoid grid collapse.

§7 · Odds conversion

Odds conversion · every dialect a bettor thinks in

Implied probabilityP

4.1%

= price

Decimal oddsEU

24.390

total return per $1

AmericanUS

+2339

$100 wins $2339

FractionalUK

23.39 / 1

profit per $1 risked

Profit per $100stake

+$2339.02

clean dollar framing

underdog (+)favorite (-)your price

Price → implied probability → decimal odds → American moneyline → fractional. Five views of the same number, plus the moneyline curve.

§8 · Binary entropy

Binary entropy · uncertainty as bits of information

Market entropyH(p)

0.247 bit

max 1.0 at p = 0.5

Your entropyH(q)

0.247 bit

Δ +0.000 bit vs market

Surprise · YES−log₂ p

4.61 bit

self-information

Surprise · NO−log₂(1−p)

0.06 bit

self-information

Market entropy only — model entropy requires an external q.

§9 · Model-dependent surfaces

§ Edge / Kelly / KL · no model probability provided

External model required

The position-economics, Kelly, KL-divergence, Bayesian and Monte-Carlo surfaces require a model probability q as input — a number independent of the market price p.

The previous build defaulted q to a tape-momentum heuristic derived from p; that produces apparent edge that is structurally guaranteed to be small and is not a useful skill signal. The auto-derived path has been removed.

To explore these surfaces with a hypothetical q, open the interactive simulator and drag the MODEL P(YES) slider. To wire a real model, POST to the NOSTRADAMUS hook (TBD) or pass ?q=… on the simulator URL.

§∞ · Provenance & attestation

Upstream: api.elections.kalshi.com
Snapshot fetched: 2026-06-14 15:22:07 UTC
Snapshot age: 51.8s
SHA-256 attestation: 715f25f8ec400d168f297df6a86fc0bec0ffd7a4c45e9f04f79468efd0b206b9 · deterministic hash of the source snapshot — proves this page was rendered from this exact data
Open data licence: CC0 / public domain · free to mirror, syndicate, analyse

Risk metrics

▸ sovereign store · 737 barsperiods/year ≈ 350.7K

Realized vol (annualised)

290.38%

σ per bar = 0.004903

Mean return (annualised)

-2269.67%

μ per bar = -0.000065

Sharpe (rf=0)

-7.82

annualised; risk-free assumed zero

Max drawdown

9.30%

peak 0.04 → trough 0.04 over 122 bars

/api/asset/kalshi-kxpresnomd-28-jbp/risk · same metrics, JSON