Glossary › Market rules and contract terms
Checked September 25, 2026 · 6 sources · plain-English definition, not financial advice
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.
Every Kalshi market has its own rules. The rules summary on the market page outlines the value being measured, the timeline and the verification source, but Kalshi's help center says a summary does not contain the entire text: the full rules open under "View full rules", and the markets team may post clarifications in an Additional details section.
Behind each series sit contract terms with fields such as Underlying, Source Agency, Payout Criterion, Last Trading Date, Expiration Date and Settlement Value. Kalshi's CPI terms, for example, pay $1.00 when the one-month CPI change is strictly greater than the listed percent, stop trading at 8:29 AM ET on release day and read the value at 8:31 AM ET. All contracts also fall under the KalshiEX rulebook (version 1.29 when checked), which gives Kalshi sole discretion to interpret a contract's terms at settlement.
Kalshi's member agreement makes you responsible for reading, understanding and accepting a contract's terms before trading. Check first: what exactly counts as Yes, the source, the close and expiration times, and any early close condition.
How Kalshi settles its markets · Kalshi FAQ
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.
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