Glossary › Expiration

What is expiration on Kalshi?

Checked September 25, 2026 · 4 sources · plain-English definition, not financial advice

How it works on Kalshi

Kalshi's rulebook defines expiration as the time on the expiration date at which a contract expires and its expiration value, the reading of the underlying, is determined. Contract terms set it precisely: Kalshi's CPI contracts expire at 8:31 AM ET, two minutes after trading stops at 8:29 AM ET on the release day.

Kalshi's API shows two expiration times: expected_expiration_time, when the outcome is expected to be known, and latest_expiration_time, the latest possible time. For a sports game the expected time is typically a few hours after the scheduled start, while the close time can be set well into the future to allow for rescheduling.

Dates can move. Kalshi's rulebook lets it move expiration earlier when the outcome is reached early, and later when data is delayed or an event is rescheduled, announcing the change on its website; the CPI terms allow up to three months after the scheduled release. What to check: the latest possible expiration, since that is how long your money could be tied up.

Related terms

• Close time: When trading in a Kalshi market stops; after it, orders are rejected and resting orders are canceled while the market awaits its result.
• Settlement: The step after a Kalshi market's result is determined, when each winning contract is paid $1 into your cash balance.
• Early close: When a Kalshi market stops trading before its scheduled close because the outcome is already known, as its rules allow; payout follows determination.
• Market rules and contract terms: The binding terms of a Kalshi market: what is measured, the source, the timeline and when it pays, all under the KalshiEX rulebook.
• Settlement source: The official data source a Kalshi market's rules name to decide the result, such as the BLS for CPI or the National Weather Service for daily highs.

See also

How Kalshi settles its markets · Kalshi APY calculator

Sources

1. KalshiEX LLC Rulebook, version 1.29, Kalshi, accessed September 25, 2026
2. CPI contract terms, Kalshi, accessed September 25, 2026
3. Market Lifecycle, Kalshi API documentation, accessed September 25, 2026
4. Get Market, Kalshi API documentation, accessed September 25, 2026

Checked September 25, 2026. Kalshi changes fees, rules, funding options and limits; the market's rules, the order ticket and Kalshi's help center are the final word.

Previous: Event contract · Next: Fee multiplier · All 40 terms