September 15 - 30, 2026

About This Market

This market resolves based on when the water level at the Kaub gauge (station 25700100) on the Rhine River first reaches or exceeds 77 centimeters, as reported by the German Federal Waterways and Shipping Administration (WSV) via PegelOnline. A reading of 77 centimeters or higher is the equivalent water level (Gleichwertiger Wasserstand, GlW) for Kaub, the low-water navigation reference above which full navigation of the Rhine is possible, and defines "normal levels" for this market. "Does not return by November 1, 2026" resolves "Yes" if no reading at or above 77 centimeters is recorded at the Kaub gauge at any time on or before October 31, 2026 11:59 PM UTC. Readings after this cutoff are not considered, and any return to normal levels occurring on or after November 1, 2026 does not affect resolution. The resolution is triggered by the first reading at or above 77 centimeters recorded on or after the market's start, representing a rise back to the threshold. A single reading at or above 77 centimeters is sufficient to trigger resolution; transient spikes count, and the water level does not need to be sustained at or above 77 centimeters for any period. The bracket containing the timestamp of the first reading at or above 77 centimeters resolves "Yes"; all other brackets resolve "No". The primary resolution source for this market will be PegelOnline (https://www.pegelonline.wsv.de/gast/stammdaten?pegelnr=25700100). If PegelOnline is unavailable, this market may resolve based on a consensus of credible reporting.