The Prediction Markets

Bank of Russia rate decision in December

Closes
Dec 18, 2026, in 45 days
Traded
$42K
Venues
Polymarket, Kalshi
Prices updated
7 h ago
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What the markets expect

No change 75.4%

Next is 25 bps decrease at 17.4%. The venues differ most on No change (Polymarket 76%, Kalshi 72%), a 4.0-point gap.

50+ bps decrease 1.8%25 bps decrease 17.4%No change 75.4%25 bps increase 3.6%50+ bps increase 1.8%

Ordered from largest cut to largest hike.

Odds by venue

Fair chance strips out each venue’s built-in margin (its prices add up to more than 100%), then blends the venues by how much has traded there, so the outcomes add up to 100%. Best Yes price is the cheapest ask across venues, and the payout is what a winning $100 stake returns before fees. Open a row for each venue’s contract name, bid and ask, and how closely their rules match.

Prices come from our regular polls of each venue, the oldest 7 h ago. Ages are as of when this page was built.

  • Polymarket
  • Kalshi
50+ bps decrease
1.8%
Polymarket 1.4%polled, 7 h agoKalshi 3%polled, 7 h agoBest Yes 1.5¢ on Polymarket, $100 pays $6,667 (66.7x)
Polymarket
Contract
50+ bps decrease
Last price
1.4%
As of
Polled 7 h ago
Buy Yes
1.5¢
Sell Yes
1.2¢
$100 on Yes pays
$6,667 (66.7x)
Volume
$3K
Trade this on Polymarket
Kalshi
Contract
Cut more than 25bps
Last price
3%
As of
Polled 7 h ago
Buy Yes
3¢
Sell Yes
1¢
$100 on Yes pays
$3,333 (33.3x)
Volume
$214
Trade this on Kalshi
Partial parity

Payoffs match in ordinary outcomes; see the rule differences below the table.

Prices on these venues are 7 h old, too old to show an executable spread.

25 bps decrease
17.4%
Polymarket 16.5%polled, 7 h agoKalshi 20%polled, 7 h agoBest Yes 18¢ on Polymarket, $100 pays $556 (5.56x)
Polymarket
Contract
25 bps decrease
Last price
16.5%
As of
Polled 7 h ago
Buy Yes
18¢
Sell Yes
15¢
$100 on Yes pays
$556 (5.56x)
Volume
$12K
Trade this on Polymarket
Kalshi
Contract
Cut 1-25bps
Last price
20%
As of
Polled 7 h ago
Buy Yes
22¢
Sell Yes
20¢
$100 on Yes pays
$455 (4.55x)
Volume
$416
Trade this on Kalshi
Partial parity

Payoffs match in ordinary outcomes; see the rule differences below the table.

Prices on these venues are 7 h old, too old to show an executable spread.

No change
75.4%
Polymarket 76%(77% fair)polled, 7 h agoKalshi 72%(70.6% fair)polled, 7 h agoBest Yes 72¢ on Kalshi, $100 pays $139 (1.39x)
Polymarket
Contract
No change
Last price
76%
Fair, margin removed
77%
As of
Polled 7 h ago
Buy Yes
77¢
Sell Yes
75¢
$100 on Yes pays
$130 (1.30x)
Volume
$14K
Trade this on Polymarket
Kalshi
Contract
Maintain current rate
Last price
72%
Fair, margin removed
70.6%
As of
Polled 7 h ago
Buy Yes
72¢
Sell Yes
71¢
$100 on Yes pays
$139 (1.39x)
Volume
$2K
Trade this on Kalshi
Partial parity

Payoffs match in ordinary outcomes; see the rule differences below the table.

Prices on these venues are 7 h old, too old to show an executable spread.

25 bps increase
3.6%
Polymarket 3.8%polled, 7 h agoKalshi 3%polled, 7 h agoBest Yes 3¢ on Kalshi, $100 pays $3,333 (33.3x)
Polymarket
Contract
25 bps increase
Last price
3.8%
As of
Polled 7 h ago
Buy Yes
4.5¢
Sell Yes
3¢
$100 on Yes pays
$2,222 (22.2x)
Volume
$5K
Trade this on Polymarket
Kalshi
Contract
Hike 1-25bps
Last price
3%
As of
Polled 7 h ago
Buy Yes
3¢
Sell Yes
2¢
$100 on Yes pays
$3,333 (33.3x)
Volume
$52
Trade this on Kalshi
Partial parity

Payoffs match in ordinary outcomes; see the rule differences below the table.

Prices on these venues are 7 h old, too old to show an executable spread.

50+ bps increase
1.8%
Polymarket 1.1%polled, 7 h agoKalshi 4%polled, 7 h agoBest Yes 1.2¢ on Polymarket, $100 pays $8,333 (83.3x)
Polymarket
Contract
50+ bps increase
Last price
1.1%
As of
Polled 7 h ago
Buy Yes
1.2¢
Sell Yes
0.9¢
$100 on Yes pays
$8,333 (83.3x)
Volume
$3K
Trade this on Polymarket
Kalshi
Contract
Hike more than 25bps
Last price
4%
As of
Polled 7 h ago
Buy Yes
4¢
Sell Yes
2¢
$100 on Yes pays
$2,500 (25.0x)
Volume
$1K
Trade this on Kalshi
Partial parity

Payoffs match in ordinary outcomes; see the rule differences below the table.

Prices on these venues are 7 h old, too old to show an executable spread.

Venue prices are 7 h old, so we are not showing a cross-venue spread. Check each venue for current prices. Find markets with fresh spreads

Mostly the same bet: 4 differences

Where they differ

  • Buckets assume 25 bp steps: Kalshi 'Cut >25bps' / 'Hike >25bps' and Polymarket '50+ bps' differ for a move strictly between 25 and 50 bps; Kalshi 'Cut 1-25bps' also covers moves under 25 bps.
  • Polymarket names the reference rate per bank (Fed: upper bound of the target range; ECB: deposit facility rate; BoJ: uncollateralized overnight call rate); Kalshi settles on the announced action.
  • Both settle on the scheduled meeting in the named month; an unscheduled move between meetings counts for neither.
  • Trading closes at different times: Dec 18, 2026, 11:59 PM UTC on Polymarket and Dec 18, 2026, 11:29 AM UTC on Kalshi.
Polymarket
Polymarket resolves via:
UMA optimistic oracle, source: cbr.ru
Kalshi
Kalshi resolves via:
Kalshi (CFTC-regulated exchange), source: Bank of Russia, Trading Economics
Show full rule comparison
  • Buckets assume 25 bp steps: Kalshi 'Cut >25bps' / 'Hike >25bps' and Polymarket '50+ bps' differ for a move strictly between 25 and 50 bps; Kalshi 'Cut 1-25bps' also covers moves under 25 bps.
  • Polymarket names the reference rate per bank (Fed: upper bound of the target range; ECB: deposit facility rate; BoJ: uncollateralized overnight call rate); Kalshi settles on the announced action.
  • Both settle on the scheduled meeting in the named month; an unscheduled move between meetings counts for neither.
  • Trading closes Dec 18, 2026, 11:59 PM UTC on Polymarket and Dec 18, 2026, 11:29 AM UTC on Kalshi.

Summarized from each venue’s published rules; the venue’s own rules page is the final word.

How the odds have moved

The top 3 outcomes on both venues, with the consensus between them. Hover for exact values.

  • No change
  • 25 bps decrease
  • 25 bps increase

Live prices for No change

What it costs to buy Yes, what you would get selling it, and the last trade on each exchange, updating as orders change. Hover a status for timing details.

Order books

Each venue’s resting orders for the selected outcome’s Yes contract, side by side. Top of book streams live; depth refreshes every 15 seconds.

Combined depth · both venues

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Polymarket

Open on Polymarket ↗

Top of book

Connecting
Best bid
—
Spread
—
Best ask
—

Waiting for the first live quote…

Depth · top 8 levels

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Recent trades

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Kalshi

Open on Kalshi ↗

Top of book

Connecting
Best bid
—
Spread
—
Best ask
—

Waiting for the first live quote…

Depth · top 8 levels

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Recent trades

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What your stake buys

Enter a stake to see where it buys the most after fees, using each venue’s live order book.

$
Buy

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Buys at the asks resting now (taker orders), cheapest after fees first, from order-book snapshots up to 15 seconds old. Fees: Kalshi 0.07 × price × (1 − price) per share, rounded up to the cent; Polymarket 0.05 × price × (1 − price) per share (economics rate). Fee calculator. Estimates only, not advice.

About this market

Live prediction market odds for "Bank of Russia rate decision in December". No change leads at 75.4%. Next is 25 bps decrease at 17.4%. $42K has traded across 5 outcomes on Polymarket and Kalshi. The market is expected to resolve by Dec 18, 2026.

Questions

What does the consensus price mean?

It is the price of a Yes contract that pays $1 if the outcome happens. A 14¢ price means traders put the chance near 14%. Where two venues list the same outcome, we blend their last prices, weighting the venue with more trading volume more heavily (neither counts for less than a quarter). When only one outcome can win, each venue’s prices add up to a little over 100% (its margin); the fair chance removes that margin so the outcomes add up to exactly 100%.

How is the payout worked out?

A Yes contract pays $1 if it wins, so at the best ask a $100 stake buys 100 ÷ ask contracts. At 18¢ that is about 555 contracts, paying $556 (5.56x) if Yes happens. Venue fees and price slippage on larger orders are not included.

Why do the venues show different prices?

Each venue has its own traders, fees and order book. Contracts can also settle on slightly different terms, which is why each row lists how closely the rules match.

Is a price gap an arbitrage?

Only when you can buy Yes on one venue below what someone pays for Yes on the other, after fees, and both contracts settle the same way. We show the executable bid and ask so you can check.

How fresh are these prices?

Venue prices refresh every few minutes, and the order book and live quotes stream continuously. Each venue’s card shows when we last observed it.

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