Bid and ask

Two prices for every contract: the bid is the most a buyer will pay right now, the ask is the least a seller will take. The gap between them is the cost of trading in and out, so buying at the ask and selling at the bid gives up that gap.

• Mid-price — The midpoint between the best bid and best ask: the market's current price for a contract.
• Kalshi — A CFTC-regulated US exchange where yes/no contracts trade between people and settle at $1 or $0. The price in cents is the market's probability.