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The Overround / Markets / Entertainment

Oscar Winner: Best Director

Priced on Kalshi and Polymarket at the same moment. These are raw ask prices, what it actually costs to take the position, margin included.

OutcomeKalshiPolymarketCheaper
Christopher Nolan 62¢ 65¢ Kalshi
Denis Villeneuve 19¢ 22¢ Kalshi
Alejandro G. Iñárritu 10¢ Polymarket
Martin McDonagh 9.3¢ Kalshi
David Fincher
Phil Lord & Christopher Miller
Mike Leigh
Jesse Eisenberg

The two venues disagree most on Martin McDonagh: 6¢ on Kalshi against 9.3¢ on Polymarket, a gap of 3.3¢ on the same outcome.

Only outcomes with a live two-sided quote are shown. Polymarket prices are matched to this market by outcome name; where a name has no counterpart the cell is left empty rather than guessed. Prices as of Thu, 17 Sep 2026 04:51:40 UTC.

The overround on this market

Add up what it costs to back every outcome here and Kalshi's board comes to 115%, Polymarket's to 146.2%. A fair book sums to 100. The excess is the house's cut, paid by whoever trades, and it is the reason the same opinion costs different amounts in different places. That number is what this site is named after.

Your call

The market says 62%. It got there by making everyone who disagreed put money behind it. You do not have to, so this is the cheap version of the same question, and the interesting number is how far the two drift apart.

62%

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The record

What this market has cost every day since 20 March 2026, taken from the exchange's own published history. The line is the mid price, halfway between what a buyer would pay and a seller would take.

0 25 50 75 100 MarAprMayJunJulAugSept Christopher Nolan 61.5 Denis Villeneuve 18.5 Alejandro G. Iñárr 7.5

Over this window Christopher Nolan went from 26 to 61.5, a move of 35.5 points toward happening.

The other 1 contract in this field is left off the chart rather than drawn in a colour nobody could tell apart; it is all in the table above. Kalshi removes a contract from its interface once it settles and Polymarket buries closed events, so this page is the copy that stays put. We also record our own snapshot once a day, independently, because a history published by the house is worth checking against one kept by somebody with no position in it.

See this on Kalshi See this on Polymarket

What settles this

Settlement source
Academy of Motion Picture Arts and Sciences
Contract terms
Kalshi product certification (PDF)
Closes
Fri, 31 Dec 2027 15:00:00 UTC
Resolution, for the Christopher Nolan contract
If Christopher Nolan has won Best Director at the 99th Academy Awards, then the market resolves to Yes.
Ticker
KXOSCARDIR-27

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