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Kalshi Traders See 90% Odds Gas Tops $4 This Month

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Kalshi traders now see a 90% chance that gas prices will exceed $4 per gallon by the end of this month, up from 56% two days ago, CNBC reported Wednesday.

Traders see a 93% chance of prices topping $4 and a 63% chance of exceeding $4.10, with the contract verified by AAA, according to the report.

CNBC reported that the national gas price stood at $3.89 on Wednesday, up about 3 cents from Tuesday, per AAA, while traders see less than a 5% chance prices will surpass $4.50 by month's end.

The speculation comes as the US ended its ceasefire with Iran and relaunched strikes, with US Central Command saying it conducted a second wave of strikes Wednesday afternoon following an earlier round that morning, CNBC reported.

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