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Will Trump run for a third term?

Live prices from Kalshi, ordered by what the market thinks. These are raw ask prices, what it actually costs to take the position, margin included.

OutcomeKalshi
Before Election Day 23¢
Before 2028 20¢
Before 2027 6.5¢

Only outcomes with a live two-sided quote are shown. No Polymarket equivalent was matched with enough confidence to publish, so this page is Kalshi only. Prices as of Thu, 17 Sep 2026 04:50:47 UTC.

Your call

The market says 23%. 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.

23%

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The record

What this market has cost every day since 21 December 2025, 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 DecJanFebMarAprMayJunJulAugSept Before Election Da 21 Before 2028 17.5 Before 2027 5.7

Over this window Before 2028 went from 12.5 to 17.5, a move of 5 points toward happening.

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

What settles this

Settlement source
The New York Times, the Associated Press, Reuters, Axios, Politico, Semafor, The Information, The Washington Post, The Wall Street Journal, ABC, CBS, CNN, Fox News, MSNBC
Contract terms
Kalshi product certification (PDF)
Closes
Fri, 01 Jan 2027 15:00:00 UTC
Resolution, for the Before Election Day contract
If Donald Trump has announced that he will run for President of the United States in 2028 before Nov 7, 2028, including running for the nomination of any political party to contest that office, then the market resolves to Yes.
Ticker
KXTRUMPRUN

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