KALSHI · CFTC-CLEARED BINARY CONTRACT · SPORTS

Will Jon Rahm win the U.S. Open?

YES · live

0.1¢

NO · live

99.9¢

▸ Advanced metrics · M2M bundle

kalshi · kxpgatour-uso26-jrah · fresh · feed 1m old

24h sparkline · 60 pts▼ —

realized vol (ann.)

0.00%

max drawdown

0.00%

sharpe

—

ulcer index

0.00%

RMS drawdown

pain index

0.00%

mean drawdown

mod. VaR 95%

0.00%

Cornish-Fisher

martin ratio

—

ret / ulcer

CDaR 95%

0.00%

cond. drawdown

gain/pain

—

Σgain / Σ|loss|

sterling

—

ret / CDaR

omega (θ=0)

1.00

upside/downside

roll spread

0.0 bps

implied (price-only)

bars used

183

store

spread

—

24h Δ

—

flow lean

—

carry

flat

signalNEUTRALconfidence 20%

Same bundle via M2M API: /api/m2m/kalshi-kxpgatour-uso26-jrah/bundle · venue execution: kalshi →

LIVEPOLL0SRCWARMING1.5m⏱--:--:-- 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

0.1¢

NO · live

99.9¢

YES price · live 24h (Kalshi candlesticks)

no history

YES / NO split · live

Σ 100.00% · fair

Σ-sides total = 100.00% (tight rounding)

H(p) entropy = 0.011 / 1.00 bits (1%) · informative — one side favoured

YES

0.1%0.1¢1000.00×▬ +0.00pp

99.9%99.9¢1.00×▬ +0.00pp

Σ 100.00% · arb gap 0.00pp

Live numerics · pulse on poll

LIVE NUMERICS9 metrics·POLL 0

⏱snapshot age

1.5m

·ticker

KXPGATOUR-USO26-JRAH

▲YES bid

0.00¢

▲YES ask

100.00¢

ΣΣ sides

100.00%

⚖arb gap

0.000pp

$24h vol $

$440.0

◐open interest $

$3.7M

◳history points

0 bars (live)

§1 · Quote

Ticker: KXPGATOUR-USO26-JRAH
Event ticker: KXPGATOUR-USO26
YES bid / ask: 0.00¢ / 100.00¢ (spread 100.00pp)
NO bid / ask: 0.00¢ / 100.00¢
Last YES: 0.10¢
Σ-sides: 100.00% (arb gap 0.00pp)

§2 · Activity

Volume 24h: $439.99
Volume total: $4.78k
Open interest: $3.65M
Liquidity: $0.00
Close time: 2026-06-20T01:10:57Z
Status: finalized

§3 · Resolution rules

If Jon Rahm wins the U.S. Open, then the market resolves to Yes.

▸ Depth section using sovereign-store price series (528 bars · effective 348460 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 0.3 d · σ/bar 0.284pp · expected |Δp| over horizon 0.69ppterminal variance p(1−p) = 0.0010 · n = 528✓ n = 528

μ per bar

-0.010pp

average Δp · drift

σ per bar

0.284pp

one-bar volatility · logit-free

Per-day movedaily

1.39pp

σ × √24

Per-horizon move0d

0.69pp

σ × √6

Terminal variancebinary

0.0010

p(1−p) at resolution

Current pricep

0.1¢

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 0.48pp · ES₉₅ 0.59pp · method parametric · drift-correcteddrift -0.010pp/bar · quantised: yes · median step 0.10pp · unique ratio 0.04✓ n = 528

VaR 95%

0.48pp

1.645·σ (parametric) of Δp

ES 95%

0.59pp

mean of the tail

Max drawdown

98.2pp

peak 5.7¢ → trough 0.1¢

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

0.1%

= price

Decimal oddsEU

1000.000

total return per $1

AmericanUS

+99900

$100 wins $99900

FractionalUK

999.00 / 1

profit per $1 risked

Profit per $100stake

+$99900.00

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)

0.011 bit

max 1.0 at p = 0.5

Your entropyH(q)

0.011 bit

Δ +0.000 bit vs market

Surprise · YES−log₂ p

9.97 bit

self-information

Surprise · NO−log₂(1−p)

0.00 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: 2026-06-20 11:29:03 UTC
Snapshot age: 1.5m
SHA-256 attestation: 8e3f879dfa33d76787bd2de767c9a7b544b6754b0f12fb9105a41d266a9dfac7 · 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 · 528 barsperiods/year ≈ 348.5K

Realized vol (annualised)

10307.52%

σ per bar = 0.174613

Mean return (annualised)

-262521.57%

μ per bar = -0.007534

Sharpe (rf=0)

-25.47

annualised; risk-free assumed zero

Max drawdown

98.25%

peak 0.06 → trough 0.00 over 313 bars

/api/asset/kalshi-kxpgatour-uso26-jrah/risk · same metrics, JSON