The Prediction Markets

NATO x Russia military clash by...?

Full timeKickoff Waiting for the venues to settle
Traded
$10.0M
Venues
Polymarket
Prices updated
just now
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What the markets expect

December 31 33.7%

Next is November 30 at 25%. Only Polymarket lists this market, so there is no second price to compare.

December 31 33.7%November 30 25%November 15 21.6%October 31 19.7%

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. Ages are as of when this page was built.

  • Polymarket
December 31
33.7%
Polymarket 35%(33.7% fair)polled, 49s agoBest Yes 36¢ on Polymarket, $100 pays $278 (2.78x)
Polymarket
Contract
December 31
Last price
35%
Fair, margin removed
33.7%
As of
Polled just now
Buy Yes
36¢
Sell Yes
34¢
$100 on Yes pays
$278 (2.78x)
Volume
$3.1M
Trade this on Polymarket
November 30
25%
Polymarket 26%(25% fair)polled, 49s agoBest Yes 28¢ on Polymarket, $100 pays $357 (3.57x)
Polymarket
Contract
November 30
Last price
26%
Fair, margin removed
25%
As of
Polled just now
Buy Yes
28¢
Sell Yes
24¢
$100 on Yes pays
$357 (3.57x)
Volume
$262
Trade this on Polymarket
November 15
21.6%
Polymarket 22.5%(21.6% fair)polled, 49s agoBest Yes 24¢ on Polymarket, $100 pays $417 (4.17x)
Polymarket
Contract
November 15
Last price
22.5%
Fair, margin removed
21.6%
As of
Polled just now
Buy Yes
24¢
Sell Yes
21¢
$100 on Yes pays
$417 (4.17x)
Volume
$4K
Trade this on Polymarket
October 31
19.7%
Polymarket 20.5%(19.7% fair)polled, 49s agoBest Yes 22¢ on Polymarket, $100 pays $455 (4.55x)
Polymarket
Contract
October 31
Last price
20.5%
Fair, margin removed
19.7%
As of
Polled just now
Buy Yes
22¢
Sell Yes
19¢
$100 on Yes pays
$455 (4.55x)
Volume
$2.4M
Trade this on Polymarket

Who resolves this market

Polymarket
Polymarket resolves via:
UMA optimistic oracle

How the odds have moved

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

  • December 31
  • November 30
  • November 15

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.

Top of book

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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.

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Cover all 4 outcomes across venues

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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 (other / general rate). Fee calculator. Estimates only, not advice.

About this market

Live prediction market odds for "NATO x Russia military clash by...?". December 31 leads at 33.7%. Next is November 30 at 25%. $10.0M has traded across 4 outcomes on Polymarket. The market is expected to resolve by Nov 1, 2026.

This market will resolve to "Yes" if there is a military encounter between the military forces of a NATO country and Russia between September 23 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No". A "military encounter" is defined as any incident involving the use of force such as missile strikes, artillery fire, exchange of gunfire, or other forms of direct military engagement between NATO and Russian military forces. Non-violent actions, such as airspace violations, firing of warning shots (such as the June, 2021 Black Sea Confrontations between Russian forces and HMS Defender), or cyberattacks will not qualify. Interception of missiles or other one-way attack or loitering munitions (e.g. Shahed drones) which are targeting a 3rd party other than the listed countries or their respective forces will not alone qualify. Shooting down UAVs which are not munitions (e.g. MQ-9, Orlan 10, Orion, Bayraktar TB2, etc.) will qualify. Intentional physical collisions, including aerial interceptions and naval ramming without the direct use of weaponry, such as the 2023 Black Sea incident—where a Russian Su-27 damaged a U.S. MQ-9 Reaper drone's propeller, leading to its crash— will not qualify regardless of damage. Military contractors will qualify only if confirmed to be operating under the direct command or coordination of the respective state’s armed forces (e.g. the Battle of Khasham would not qualify). The resolution source for this market will be a consensus of credible reporting.

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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