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Sports·Hockey

2026 NHL Stanley Cup Champion

icon for 2026 NHL Stanley Cup Champion
Sports·Hockey

2026 NHL Stanley Cup Champion

Colorado Avalanche 39.4%

Carolina Hurricanes 38%

Vegas Golden Knights 12.7%

Montreal Canadiens 6.9%

Polymarket

$77,634,475 Vol.

Colorado Avalanche 39.4%

Carolina Hurricanes 38%

Vegas Golden Knights 12.7%

Montreal Canadiens 6.9%

Polymarket

$77,634,475 Vol.

Colorado Avalanche

$14,443,089 Vol.

39%

Carolina Hurricanes

$986,417 Vol.

38%

Vegas Golden Knights

$2,163,843 Vol.

13%

Montreal Canadiens

$2,565,627 Vol.

7%

Buffalo Sabres

$3,882,222 Vol.

5%

This market will resolve to “Yes” if the Colorado Avalanche win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Carolina Hurricanes win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Vegas Golden Knights win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Montreal Canadiens win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Buffalo Sabres win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Dallas Stars win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Columbus Blue Jackets win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Nashville Predators win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Florida Panthers win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Edmonton Oilers win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Calgary Flames win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the San Jose Sharks win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Tampa Bay Lightning win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Los Angeles Kings win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Boston Bruins win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the New Jersey Devils win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Winnipeg Jets win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Toronto Maple Leafs win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Chicago Blackhawks win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Washington Capitals win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the New York Rangers win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Ottawa Senators win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Minnesota Wild win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Utah Mammoth win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the St. Louis Blues win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Vancouver Canucks win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the New York Islanders win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Philadelphia Flyers win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Detroit Red Wings win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Anaheim Ducks win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Pittsburgh Penguins win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Seattle Kraken win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. The 2025-26 Stanley Cup race remains tightly contested between the Colorado Avalanche and Carolina Hurricanes because both clubs enter the conference finals with elite regular-season pedigrees and strong playoff momentum. The Avalanche posted the NHL’s best record and 121 points while showcasing top-end talent like Nathan MacKinnon and Cale Makar, though they recently dropped a game to the Minnesota Wild. The Hurricanes, meanwhile, have delivered the most dominant postseason run to date, sweeping the Ottawa Senators and Philadelphia Flyers behind goaltender Frederik Andersen’s elite .938 save percentage. These factors have kept their implied probabilities within two points of each other, with Vegas Golden Knights, Montreal Canadiens, and Buffalo Sabres trailing as longer shots still facing elimination hurdles.

This market will resolve to “Yes” if the Buffalo Sabres win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”.

This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL.

The resolution source for this market will be information from the NHL.
Volume
$77,634,475
End Date
Jun 30, 2026
Market Opened
Jun 23, 2025, 11:35 AM ET

Resolver

0x2F5e3684c...
This market will resolve to “Yes” if the Buffalo Sabres win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL.
This market will resolve to “Yes” if the Colorado Avalanche win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Carolina Hurricanes win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Vegas Golden Knights win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Montreal Canadiens win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Buffalo Sabres win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Dallas Stars win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Columbus Blue Jackets win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Nashville Predators win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Florida Panthers win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Edmonton Oilers win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Calgary Flames win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the San Jose Sharks win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Tampa Bay Lightning win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Los Angeles Kings win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Boston Bruins win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the New Jersey Devils win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Winnipeg Jets win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Toronto Maple Leafs win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Chicago Blackhawks win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Washington Capitals win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the New York Rangers win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Ottawa Senators win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Minnesota Wild win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Utah Mammoth win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the St. Louis Blues win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Vancouver Canucks win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the New York Islanders win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Philadelphia Flyers win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Detroit Red Wings win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Anaheim Ducks win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Pittsburgh Penguins win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. This market will resolve to “Yes” if the Seattle Kraken win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL. The 2025-26 Stanley Cup race remains tightly contested between the Colorado Avalanche and Carolina Hurricanes because both clubs enter the conference finals with elite regular-season pedigrees and strong playoff momentum. The Avalanche posted the NHL’s best record and 121 points while showcasing top-end talent like Nathan MacKinnon and Cale Makar, though they recently dropped a game to the Minnesota Wild. The Hurricanes, meanwhile, have delivered the most dominant postseason run to date, sweeping the Ottawa Senators and Philadelphia Flyers behind goaltender Frederik Andersen’s elite .938 save percentage. These factors have kept their implied probabilities within two points of each other, with Vegas Golden Knights, Montreal Canadiens, and Buffalo Sabres trailing as longer shots still facing elimination hurdles.

This market will resolve to “Yes” if the Buffalo Sabres win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”.

This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL.

The resolution source for this market will be information from the NHL.
Volume
$77,634,475
End Date
Jun 30, 2026
Market Opened
Jun 23, 2025, 11:35 AM ET

Resolver

0x2F5e3684c...
This market will resolve to “Yes” if the Buffalo Sabres win the 2026 NHL Stanley Cup. Otherwise, this market will resolve to “No”. This market will resolve to “No” if it becomes impossible for this team to win the 2026 NHL Stanley Cup based off the rules of the NHL. The resolution source for this market will be information from the NHL.

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Frequently Asked Questions

"2026 NHL Stanley Cup Champion " is a prediction market on Polymarket with 32 possible outcomes where traders buy and sell shares based on what they believe will happen. The current leading outcome is "Colorado Avalanche" at 39%, followed by "Carolina Hurricanes" at 38%. Prices reflect real-time crowd-sourced probabilities. For example, a share priced at 39¢ implies that the market collectively assigns a 39% chance to that outcome. These odds shift continuously as traders react to new developments and information. Shares in the correct outcome are redeemable for $1 each upon market resolution.

As of today, "2026 NHL Stanley Cup Champion " has generated $77.6 million in total trading volume since the market launched on Jun 23, 2025. This level of trading activity reflects strong engagement from the Polymarket community and helps ensure that the current odds are informed by a deep pool of market participants. You can track live price movements and trade on any outcome directly on this page.

To trade on "2026 NHL Stanley Cup Champion ," browse the 32 available outcomes listed on this page. Each outcome displays a current price representing the market's implied probability. To take a position, select the outcome you believe is most likely, choose "Yes" to trade in favor of it or "No" to trade against it, enter your amount, and click "Trade." If your chosen outcome is correct when the market resolves, your "Yes" shares pay out $1 each. If it's incorrect, they pay out $0. You can also sell your shares at any time before resolution if you want to lock in a profit or cut a loss.

The current frontrunner for "2026 NHL Stanley Cup Champion " is "Colorado Avalanche" at 39%, meaning the market assigns a 39% chance to that outcome. The next closest outcome is "Carolina Hurricanes" at 38%. These odds update in real-time as traders buy and sell shares, so they reflect the latest collective view of what's most likely to happen. Check back frequently or bookmark this page to follow how the odds shift as new information emerges.

The resolution rules for "2026 NHL Stanley Cup Champion " define exactly what needs to happen for each outcome to be declared a winner — including the official data sources used to determine the result. You can review the complete resolution criteria in the "Rules" section on this page above the comments. We recommend reading the rules carefully before trading, as they specify the precise conditions, edge cases, and sources that govern how this market is settled.