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What is a settlement source on Kalshi?

Checked September 25, 2026 · 6 sources · plain-English definition, not financial advice

How it works on Kalshi

Kalshi's rulebook calls it the Source Agency: the agency that publishes the underlying value or the expiration value for a contract. The rules summary on each market names this verification source, and Kalshi determines the outcome from it. Kalshi's weather guide, for example, says weather apps can be useful guidance but do not determine outcomes; only the source in the rules does.

Examples from Kalshi's documents: CPI contracts name the Bureau of Labor Statistics; Fed rate decision contracts name the Federal Reserve System; daily temperature markets settle on the National Weather Service's final Daily Climate Report; crypto price markets use the average of 60 seconds of the CF Benchmarks Real-Time Index. The CPI terms add that revisions made after expiration do not count.

What to check: the exact source, the exact figure and the time it is read. If a source becomes unavailable or changes significantly, Kalshi's rulebook lets it designate a new source and underlying and announce the change on its website.

Related terms

• 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: The step after a Kalshi market's result is determined, when each winning contract is paid $1 into your cash balance.
• Expiration: The time set in a Kalshi contract's terms when its expiration value is read from the source; it can differ from the time trading closes.
• 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.

See also

How Kalshi settles its markets · How accurate Kalshi prices are

Sources

1. KalshiEX LLC Rulebook, version 1.29, Kalshi, accessed September 25, 2026
2. Rules Summary, Kalshi Help Center, March 10, 2026
3. CPI contract terms, Kalshi, accessed September 25, 2026
4. FEDDECISION contract terms, Kalshi, accessed September 25, 2026
5. Weather Markets, Kalshi Help Center, July 22, 2026
6. Crypto Markets, Kalshi Help Center, August 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.

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