Ledger · prediction markets

What the market priced vs what happened

Prediction-market prices are easy to quote after the fact and impossible to verify after the fact. So we record them before the event resolves — the question, the price each venue carried, the source URL and the timestamp — and then let resolution fill in what actually happened. Nothing here is written in hindsight.

The value of a ledger is the series, not any one row — so entries are chosen to resolve on a rolling, weeks-not-months cadence rather than all landing at once. The next scheduled resolutions are a dated primary and a dated tournament in August; a longer-dated November entry sits open alongside them. Recording short- and long-dated events together keeps the record moving without waiting months for the next data point — and none of it is a forecast.

4 entries recorded · 3 resolved · 1 awaiting resolution · ledger last updated 2026-09-02

3 resolved entries — still not enough to score anything

Entries below have resolved, and the ledger now shows the price each venue carried beforehand next to what actually happened. That demonstrates the record works — the prices were written down in advance, with sources, and can be checked. It does not show that prediction markets are accurate, and we are not going to claim it does. Accuracy is calibration: whether things priced at 60% happen about 60% of the time, measured across hundreds of events. With 3 resolved entries there is no error bar and no score to report. The value of this page is the series it accumulates, not any single row in it.

The ledger

Which party controls the US House after the 2026 midterm elections?

Awaiting resolution

The next long-dated market Monitoring already tracks on /us-midterms-2026. Recorded on 2026-07-20, roughly three and a half months before election day on 3 November 2026 — so the price is captured while the question is genuinely open, not near the close.

Democratic Party

Polymarket84.5%

Recorded 2026-07-20 00:47 UTC · source

Read directly from Polymarket's public Gamma API (event which-party-will-win-the-house-in-2026, market outcomePrices) — the same feed behind /api/us-midterms-2026.

Republican Party

Polymarket15.5%

Recorded 2026-07-20 00:47 UTC · source

Read directly from Polymarket's public Gamma API (event which-party-will-win-the-house-in-2026, market outcomePrices) — the same feed behind /api/us-midterms-2026.

Venue spread · Not comparable — only one venue price is recorded for each side of this question, so there is nothing to compare.

What actually happened

Not yet known. This event has not resolved, so the ledger records no outcome — Monitoring does not fill this in with a guess. Scheduled to resolve 2026-11-03 00:00 UTC.

Caveats on this record

  • Only one venue is recorded. Kalshi's public elections API listed no open 2026 House-control market when this entry was written on 2026-07-20, so there is no second price to compare — and none was invented. This entry therefore has no venue spread.
  • The two figures are separate binary contracts inside one Polymarket event group, not two independent readings. They currently sum to exactly 1.00; that is a property of how the group is quoted, not corroboration.
  • This price is captured months before resolution and will move — possibly a great deal. It is a record of what the market carried on 2026-07-20, not a forecast by Monitoring and not a claim about the election.

Who wins the 2026 FedEx Cup (TOUR Championship)?

Resolved

The PGA Tour's season finale, the TOUR Championship, which decides the FedEx Cup — scheduled to conclude 31 August 2026. A dated, objectively-resolvable event about 5.5 weeks out, and a genuinely open field: the market favourite is priced under 20%, unlike the Florida entry's near-locked frontrunner.

Scottie Scheffler

Polymarket19.5%

Recorded 2026-07-23 00:50 UTC · source

Read directly from Polymarket's public Gamma API (event fedex-cup-playoffs-winner, favourite market outcomePrices). Event volume $2.59M at read time.

Venue spread · Not comparable — only one venue price is recorded for each side of this question, so there is nothing to compare.

What actually happened

Scottie Scheffler · -16 (264 strokes: 65-67-66-66) · 72 holes of stroke play, no playoff · recorded 2026-09-02

Played 27–30 August 2026 at East Lake Golf Club, Atlanta. The PGA TOUR's official tournament record for the 2026 TOUR Championship (round 4, status OFFICIAL) carries Scottie Scheffler first at 16 under par, 264 strokes, three clear of Viktor Hovland (-13, 267), with Ryan Gerard third (-12, 268); the TOUR's FedExCup Standings, published "Through the TOUR Championship, August 30", carry Scheffler as the winner at rank 1.

What each venue priced beforehand

  • Polymarket·Scottie Scheffler19.5%·this side happened

That is the whole comparison: the number each venue carried, and which side occurred. It is not a score. A price is not a prediction, and neither venue is graded by a single event — that only becomes possible across many of them.

Caveats on this record

  • Only one venue is recorded, so this entry has no venue spread. Kalshi's public golf markets on 2026-07-23 were all long-dated (majors before 2028/2030); no open 2026 FedEx Cup or TOUR Championship winner market was listed. No second price was recorded, and none was derived.
  • This is an open field and only the favourite's price is recorded. Scottie Scheffler at 19.5% is the market's leading contender, not its predicted winner — the other ~80% is spread across the rest of the field.
  • This price is captured weeks before the tournament and can move. It is a record of what Polymarket carried on 2026-07-23, not a forecast by Monitoring.
  • Resolution was verified from the league before it was written here — the PGA TOUR's own official tournament record for the 2026 TOUR Championship and the same TOUR's FedExCup Standings, cross-checked against Polymarket's own settlement of the exact market this entry prices. No news report was used as the basis, and the recorded price above was not altered when the result was added.
  • The recorded price and the result are two separate facts. Polymarket carried Scottie Scheffler at 19.5% on 2026-07-23 in a field of more than a hundred listed players, and he won. One favourite winning once says nothing about whether 19.5% was the right number: a 19.5% shot wins about one time in five, so a single hit is equally consistent with a well-calibrated market and a badly-calibrated one.
  • The tournament finished on 30 August 2026, one day before this entry's recorded expected_resolution of 31 August 2026 — the date written on 2026-07-23 from the scheduled finish. The expected date has deliberately not been corrected after the fact; the gap is left visible instead.
  • This resolution was RECORDED on 2026-09-02, three days after the event it records. That gap is a fact about Monitoring's record-keeping, not about the market or the tournament, and it is not back-dated.

Who wins the 2026 Florida Republican gubernatorial primary?

Resolved

Florida's Republican primary for governor, scheduled for 18 August 2026 — a dated, objectively-resolvable event roughly four weeks out. It is here to give the ledger a resolution on a weeks-not-months cadence while the November midterms entry sits open. Byron Donalds is the market's heavy frontrunner; his implied probability is what is recorded.

Byron Donalds

Polymarket95.85%

Recorded 2026-07-23 00:48 UTC · source

Read directly from Polymarket's public Gamma API (event republican-nominee-for-florida-governor, frontrunner market outcomePrices) — the same feed behind /api/predictions. Event volume $2.11M at read time.

Venue spread · Not comparable — only one venue price is recorded for each side of this question, so there is nothing to compare.

What actually happened

Byron Donalds · 811,131 votes (47.79%) of 1,697,330 cast · plurality of an eleven-candidate field · recorded 2026-09-01

Held 18 August 2026: the Florida Department of State's official results record Byron Donalds first with 811,131 votes (47.79%), Jay Collins second with 427,014 (25.16%) and James Fishback third with 177,809 (10.48%), and the Division of Elections candidate listing for the 3 November 2026 general election carries Donalds with primary status "Won" and every other Republican candidate "Eliminated".

What each venue priced beforehand

  • Polymarket·Byron Donalds95.85%·this side happened

That is the whole comparison: the number each venue carried, and which side occurred. It is not a score. A price is not a prediction, and neither venue is graded by a single event — that only becomes possible across many of them.

Caveats on this record

  • Only one venue is recorded, so this entry has no venue spread. Kalshi lists Florida GOP primary markets on 2026-07-23, but they price a candidate's vote-share percentage and 2nd/3rd/4th placement — different questions from "who wins the nomination". No directly-comparable Kalshi price was recorded, and none was derived.
  • Only the frontrunner's price is recorded. This is a multi-candidate field; recording Byron Donalds at 95.85% is a record of the market's leading contender, not a claim about the result and not a statement about any other candidate.
  • This price is captured weeks before the primary and can move. It is a record of what Polymarket carried on 2026-07-23, not a forecast by Monitoring.
  • Resolution was verified against the state election authority before it was written here — the Florida Division of Elections' own results for the 18 August 2026 primary (published as "Official Election Results") and the same Division's candidate listing for the November general election, which records this candidate's primary status as "Won". No news report was used as the basis, and the recorded price above was not altered when the result was added.
  • The recorded price and the result are two separate facts and are not compared here. Polymarket carried Byron Donalds at 95.85% on 2026-07-23; he was nominated with 47.79% of an eleven-candidate field. The market priced WHO WOULD BE NOMINATED, not the winner's vote share, and Florida holds no primary runoff — a plurality is the nomination. Reading 95.85% against 47.79% would be comparing two different quantities.
  • This resolution was RECORDED on 2026-09-01, 14 days after the event it records. That gap is a fact about Monitoring's record-keeping, not about the market or the election, and it is left visible rather than back-dated.

Who wins the 2026 FIFA World Cup — Spain or Argentina?

Resolved

The final, Spain v Argentina at MetLife Stadium, 19 July 2026. The single largest market in either venue's history: Kalshi's contract on this match passed $1.27B in trading volume before kickoff, against >$25B traded across all World Cup contracts.

Spain

Polymarket59.05%

Recorded 2026-07-19 00:45 UTC · source

Read directly from Polymarket's public Gamma API (World Cup Winner event, outcomePrices).

Kalshi61%

Recorded 2026-07-17 · source

Publisher-reported: Fortune, 2026-07-17 — "As of mid-day Friday, bets on Kalshi showed the Spanish team with 61% odds". Not a same-instant reading.

Argentina

Polymarket40.95%

Recorded 2026-07-19 00:45 UTC · source

Read directly from Polymarket's public Gamma API (World Cup Winner event, outcomePrices).

Venue spread · The venues disagree by 1.9 percentage points at their widest. Two independent pools of real money landing this close is the interesting part; a wide gap would be the signal instead. The spread says nothing about which venue was closer to the outcome — a spread is a disagreement, not a score.

What actually happened

Spain · 1–0 · after extra time (AET) · recorded 2026-07-20

Ferran Torres scored in the 106th minute, assisted by Nico Williams; Argentina played extra time a player down after Enzo Fernández was sent off (second yellow) in second-half stoppage time.

What each venue priced beforehand

  • Polymarket·Spain59.05%·this side happened
  • Polymarket·Argentina40.95%·this side did not happen
  • Kalshi·Spain61%·this side happened

That is the whole comparison: the number each venue carried, and which side occurred. It is not a score. A price is not a prediction, and neither venue is graded by a single event — that only becomes possible across many of them.

Caveats on this record

  • No Kalshi price for Argentina is recorded: the 61% Spain figure is publisher-reported and no matching Argentina figure was published alongside it. The gap is left visible rather than filled by arithmetic — in particular, Argentina was NOT derived as 1 − 0.61.
  • The two venue readings are ~2 days apart (Kalshi 17 July, Polymarket 19 July). Treat the venue spread as indicative, not as a simultaneous quote.
  • Polymarket's Argentina price is recorded as 40.95%, not rounded to 40%. The recorded figure is the one the venue carried.
  • Both recorded prices are for the OUTRIGHT question (who lifts the trophy, extra time and penalties included). Kalshi's public API also carries a separate regulation-time 3-way match market, which prices differently and is not the same question.
  • Resolution was verified against two independent primary sources (FIFA's match centre record and ESPN's match report) before it was written here. The recorded prices above were not altered when the result was added.
  • One resolved entry is an anecdote, not evidence of accuracy. A single event has no error bar, and a 59% favourite winning once is equally consistent with a well-calibrated market and a badly-calibrated one. Only the series can answer the question.

How to read this

What a 59% price means

A prediction market sells a contract that pays $1 if something happens and $0 if it doesn't. When that contract trades at 59 cents, the market is saying: at this price, buyers and sellers are both content. Convert it and you get an implied probability of 59%— read as “if this exact situation played out many times, this outcome happens roughly 59 of every 100.” The other side is priced at roughly 41%.

The most common misreading is treating 59% as a prediction. It isn't. A 59% favourite is expected to lose about two times in five, and when it does, the market was not “wrong” — its own stated 41% simply arrived. This is exactly why one event can never settle the question.

Why two venues agreeing is informative

Polymarket and Kalshi are separate venues with separate users, separate liquidity and separate rules. When they price the same question within a point or two of each other, that agreement is weak but real evidence the number reflects shared information rather than one venue's crowd or one venue's thin order book. When they diverge, the gap is the story: it usually means low liquidity, subtly different contract wording — a market on the trophy is not the same market as a 90-minute result — or genuine disagreement. That is why this ledger records the spread instead of averaging it into a single tidy number.

Why one event proves nothing and a ledger proves something

Take any single resolved event and you can tell whichever story you like: the market “called it” or the market “got it wrong.” Neither claim survives contact with statistics, because a single observation has no error bar. The only meaningful test is calibration — collect every occasion the market said roughly 60%, and check whether those things happened roughly 60% of the time. Do that across hundreds of events and you have an answer. Do it across one and you have an anecdote.

That is the entire design of this page. Each entry is recorded before resolution, with sources, so it can be audited later; the ledger accumulates; and the calibration question only gets asked once there are enough resolved entries to ask it honestly. If you want the underlying mechanics — how prices move, what moves them, and what the number is not — the full guide is how prediction markets work.

Why the prices are recorded in advance

A price nobody wrote down cannot be recovered. Once an event resolves, the market that priced it is gone — the order book closes, the page changes, and every later account of “what the market thought” is reconstruction. Writing the venue, the number, the source URL and the timestamp down beforehand is the only version of this that can be checked by someone who doesn't take our word for it.

Related

Common questions

What does a 59% price actually mean?

It means traders are collectively willing to take both sides of the question at 59 cents on the dollar. Read it as: if this exact situation played out many times, the market thinks this outcome happens roughly 59 times in 100 — and the other outcome happens roughly 41 times in 100. It is not a prediction that the outcome will happen. A 59% favourite losing is not the market being wrong; it is the market's own stated 41% arriving.

Why does it matter that two venues agree?

Two independent pools of real money reaching nearly the same number is weak evidence that the price reflects information rather than one venue's crowd or one venue's liquidity. When venues disagree widely, that gap is itself the signal — it usually means thin liquidity, different contract wording, or genuinely different opinion. We record the spread rather than averaging it away.

Can one resolved event tell you whether prediction markets are accurate?

No. A single event has no error bar. A market that says 60% and is wrong once has told you nothing; the same market being wrong 40% of the time across hundreds of 60% calls is exactly what accuracy looks like. Only a ledger of many recorded predictions, scored against outcomes, can say anything — which is why this page records prices before resolution and accumulates them, rather than writing up results after the fact.

Why record prices before the event instead of writing about it afterwards?

Because a price that was not recorded before the event cannot be reconstructed afterwards. Post-hoc accounts of "what the market thought" are unverifiable and tend to flatter whichever narrative the result produced. Recording the price, the venue, the source URL and the as-of timestamp in advance is the only way the ledger can be checked by anyone later.

Does Monitoring set these prices or take positions?

No. Monitoring records what public real-money prediction markets are already pricing, with a named source and an as-of date for every figure. This page is information and entertainment only: not betting, financial or legal advice, not a recommendation to wager, and not affiliated with any exchange or bookmaker.

Monitoring Pro · early access

The free API stays free. Pro adds higher rate limits, full history, and webhooks — for teams building on the feed.

Leave your email to hear when it opens. One email, no marketing.

Every price on this page is a recorded observation of a public real-money prediction market, attributed to a named source with an as-of date. They are not forecasts by Monitoring, not an endorsement of any outcome, platform or product, and not a claim about what will happen. This page is information and entertainment only: it is not betting, financial or legal advice, not a recommendation to wager, and not affiliated with any exchange or bookmaker. Where an event has not resolved, no outcome is recorded and none is implied.