The Prediction Markets

Will the FDA approve MDMA for PTSD?

Closes
Jan 1, 2032, in 63 months
Traded
$13K
Venues
Kalshi
Prices updated
5 min ago
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What the markets expect

Before Jan 1, 2031 51%

Next is Before Jan 1, 2032 at 51%. Only Kalshi lists this market, so there is no second price to compare.

Odds by venue

Consensus blends each venue’s last price, weighted by how much has traded there. 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 5 min ago. Ages are as of when this page was built.

  • Kalshi
Before Jan 1, 2031
51%
Kalshi 51%polled, 5 min agoBest Yes 57¢ on Kalshi, $100 pays $175 (1.75x)
Kalshi
Contract
Before Jan 1, 2031
Last price
51%
As of
Polled 5 min ago
Buy Yes
57¢
Sell Yes
50¢
$100 on Yes pays
$175 (1.75x)
Volume
$3K
Trade this on Kalshi
Before Jan 1, 2032
51%
Kalshi 51%polled, 5 min agoBest Yes 52¢ on Kalshi, $100 pays $192 (1.92x)
Kalshi
Contract
Before Jan 1, 2032
Last price
51%
As of
Polled 5 min ago
Buy Yes
52¢
Sell Yes
51¢
$100 on Yes pays
$192 (1.92x)
Volume
$2K
Trade this on Kalshi
Before Jan 1, 2030
50%
Kalshi 50%polled, 5 min agoBest Yes 56¢ on Kalshi, $100 pays $179 (1.79x)
Kalshi
Contract
Before Jan 1, 2030
Last price
50%
As of
Polled 5 min ago
Buy Yes
56¢
Sell Yes
49¢
$100 on Yes pays
$179 (1.79x)
Volume
$3K
Trade this on Kalshi
Before Jan 1, 2029
49%
Kalshi 49%polled, 5 min agoBest Yes 55¢ on Kalshi, $100 pays $182 (1.82x)
Kalshi
Contract
Before Jan 1, 2029
Last price
49%
As of
Polled 5 min ago
Buy Yes
55¢
Sell Yes
48¢
$100 on Yes pays
$182 (1.82x)
Volume
$3K
Trade this on Kalshi
Before Jan 1, 2028
32%
Kalshi 32%polled, 5 min agoBest Yes 38¢ on Kalshi, $100 pays $263 (2.63x)
Kalshi
Contract
Before Jan 1, 2028
Last price
32%
As of
Polled 5 min ago
Buy Yes
38¢
Sell Yes
32¢
$100 on Yes pays
$263 (2.63x)
Volume
$833
Trade this on Kalshi
Before Jan 1, 2027
6%
Kalshi 6%polled, 5 min agoBest Yes 13¢ on Kalshi, $100 pays $769 (7.69x)
Kalshi
Contract
Before Jan 1, 2027
Last price
6%
As of
Polled 5 min ago
Buy Yes
13¢
Sell Yes
6¢
$100 on Yes pays
$769 (7.69x)
Volume
$1K
Trade this on Kalshi

Who resolves this market

Kalshi
Kalshi resolves via:
Kalshi (CFTC-regulated exchange), source: Food and Drug Administration

How the odds have moved

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

  • Before Jan 1, 2031
  • Before Jan 1, 2032
  • Before Jan 1, 2030

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.

Kalshi

Open on Kalshi ↗

Top of book

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

About this market

Live prediction market odds for "Will the FDA approve MDMA for PTSD?". Before Jan 1, 2031 leads at 51%. Next is Before Jan 1, 2032 at 51%. $13K has traded across 6 outcomes on Kalshi. The market is expected to resolve by Jan 1, 2032.

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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