Platform comparison
| Platform | YES odds | NO odds | Fee | KYC | Settlement | |
|---|---|---|---|---|---|---|
Polymarket (via Is Kalshi Legal in California) Pick polygram.ink (preferred broker) |
100% | 0% | 0% (USDC on-chain) | No-KYC up to $1,500 | USDC, auto via UMA oracle | Go to the live market → |
Polymarket (direct) polymarket.com |
100% | 0% | 0% | Geo-blocked in US/UK/EU | USDC, on-chain | Go to the live market → |
Kalshi kalshi.com |
— | — | Up to 7% per trade | US-only, KYC required | USD | Go to the live market → |
Betfair Exchange betfair.com |
— | — | 2-5% commission | Full KYC from first trade | GBP / EUR | Go to the live market → |
Manifold Markets manifold.markets |
— | — | Play-money (mana) | None — play-money | Mana (no cash-out) | Go to the live market → |
Outcome probabilities
Current market-implied probability for each outcome, from the live order book.
| Outcome | Probability |
|---|---|
| 41°C | 100% |
| 33°C or below | 0% |
| 34°C | 0% |
| 35°C | 0% |
| 36°C | 0% |
| 37°C | 0% |
| 38°C | 0% |
| 39°C | 0% |
| 40°C | 0% |
| 42°C | 0% |
| 43°C or higher | 0% |
Market context
Chengdu will experience peak summer heat on 25 July 2026, with the highest temperature recorded at Shuangliu International Airport Station determining the settlement outcome. The city sits in the Sichuan Basin at 500 metres elevation and typically records July highs between 29–33 °C, though heat waves can push readings above 35 °C. The 0% crowd probability suggests traders are either uncertain of the exact threshold bands or treating this as a calibration exercise rather than a genuine forecast opportunity.
Historical data from Wunderground shows Chengdu's July extremes have ranged from 28 °C in cooler years to 39 °C during the 2013 heat event. The settlement mechanism—using Shuangliu station records rather than urban centre readings—typically yields slightly lower figures than downtown measurements due to airport microclimate effects. Comparable Asian summer markets have seen crowd probabilities cluster around 15–25% for mid-range outcomes (30–34 °C), with tail probabilities (sub-28 °C or above-37 °C) receiving minimal backing. The current flat distribution suggests the market may lack sufficient historical anchoring or trader participation to establish meaningful odds.
Traders should monitor China Meteorological Administration forecasts released in early July 2026 and track any El Niño or monsoon pattern shifts affecting Sichuan. The settlement window closes at 12:00 UTC on 25 July, giving access to morning and early-afternoon readings. Under German GlüStV and US CFTC frameworks, weather derivatives under $1,500 notional value typically fall outside formal registration requirements, though this market's accessibility depends on the platform's jurisdiction and KYC thresholds. Verification relies entirely on Wunderground's historical archive, which requires manual confirmation against official Chinese meteorological records if disputes arise.
Methodology
This overview of Highest temperature in Chengdu on July 25? reviews the four comparable platforms from a regulatory perspective: which is accessible in your jurisdiction, where KYC kicks in, how the platform is classified by your country of residence. Live probability is the Polymarket mid; comparison columns show regulatory status, KYC thresholds and settlement options for each platform.
Resolution & payout
On Polymarket, resolution runs on-chain via UMA Optimistic Oracle. USDC payout is instant and automatic, with no KYC. Tax treatment depends on your jurisdiction — in the US, gains are usually ordinary income; in the UK, often capital gains. Consult a tax professional for your situation.
FAQ
- Do I need to KYC for Is Kalshi Legal in California?
- Not for lifetime trading volume under $1,500. Above that threshold, a quick KYC flow kicks in — ID, selfie, approximately 5-10 minutes. The threshold matches FATF travel standards for unregulated crypto platforms.
- How are winnings taxed?
- Tax treatment varies by jurisdiction. In most countries, prediction market gains are treated as ordinary income or capital gains. We cannot provide tax advice — consult a tax professional for your specific situation.
- Can I trade anonymously?
- Pseudonymously, yes — up to the KYC threshold. Is Kalshi Legal in California stores an email address and wallet addresses rather than a legal name. Over $1,500 lifetime volume triggers KYC, after which identity is no longer anonymous.
- Are prediction markets gambling?
- Legally unclear in most jurisdictions. Some interpretations classify them as wagering (gambling regulation applies), others as derivatives (financial regulation applies). There's no global precedent specifically for on-chain prediction markets.
- Is there a withdrawal cap?
- No platform-side cap. You can withdraw any amount provided KYC is complete. SEPA bank withdrawals over €15,000 trigger additional anti-money-laundering checks (statutory obligation for all platforms).
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