{
  "$schema": "https://clearmarket.fyi/schema/signal/v1.json",
  "record_id": "CMSIG2026062206",
  "record_slug": "may-core-pce-above-0-2-kalshi-ladder-48-89-2026-06-22",
  "schema_version": "v0.2.0",
  "provenance_version": "0.2.0",
  "published_at": "2026-06-22T00:00:00.000Z",
  "semantic_title": "Core PCE above zero in May nears full pricing consensus",
  "telemetry": "Kalshi ladder",
  "headline": "May core PCE above 0.2%: Kalshi ladder 48-89%",
  "category_tag": "PRE_EVENT_PRICING",
  "secondary_tags": [],
  "detection_path": "news_cycle",
  "pre_news_classification": "pre_news",
  "target_event_id": "CM-EVT-PG9RLBJ7F1",
  "target_event_slug": "kxpcecore-26may",
  "event_question": "May 2026 core PCE monthly change",
  "linked_event_ids": [],
  "primary_market": {
    "platform": "kalshi",
    "platform_market_id": "KXPCECORE-26MAY-T0.3",
    "question_raw": "Will the rate of core PCE inflation be above 0.3% in May 2026?",
    "current_price": 0.48,
    "volume_24h_usd": 46.28,
    "arbitration_model": "kalshi_staff",
    "resolution_source": "Bureau of Economic Analysis",
    "resolves_at": "2026-06-25T14:00:00Z"
  },
  "related_markets": [],
  "bullets": [
    "The Kalshi ladder prices May core PCE above 0.2% at 89% and above 0.3% at only 48%, placing the market-implied print squarely in the 0.2-0.3% range.",
    "A print at or above 0.3% would validate the Fed's hawkish shift; the market gives that outcome roughly even odds, not a consensus.",
    "The above-0.4% strike at just 13% shows the market is not pricing a hot surprise; a 0.2% or 0.3% read would be broadly expected and may not move policy expectations.",
    "Resolves via Bureau of Labor Statistics PCE release; the contract settles on the first published figure, not subsequent revisions."
  ],
  "atomic_claims": [
    {
      "type": "news_event",
      "field_provenance": {
        "story": {
          "tier": "mediated",
          "method": "exa_search",
          "source": "investing.com",
          "source_url": "https://www.investing.com/analysis/economic-week-ahead-will-pce-inflation-validate-the-feds-hawkish-shift-200682501",
          "retrieved_at": "2026-06-22T13:32:28+00:00"
        }
      },
      "significance": {
        "threshold": 5,
        "threshold_unit": "rank",
        "passed": true,
        "reason": "surfaced in the daily Exa news-cycle scan; mechanically matched to an active kalshi market"
      },
      "story": "The upcoming May PCE report is the week's key data point as markets ask whether it will validate the Fed's hawkish shift and BofA's no-cut-until-2028 forecast.",
      "publisher": "investing.com",
      "published_at": "2026-06-22T00:00:00.000Z",
      "source_url": "https://www.investing.com/analysis/economic-week-ahead-will-pce-inflation-validate-the-feds-hawkish-shift-200682501"
    },
    {
      "type": "pm_response",
      "field_provenance": {
        "notes": {
          "tier": "editorial",
          "method": "llm_judge_cm_signal_v1"
        }
      },
      "notes": "Kalshi's distribution on May core PCE implies a tame but positive monthly read is the central case, leaving the hawkish validation thesis dependent on whether the print rounds to 0.3% or above."
    }
  ],
  "sources": [
    {
      "label": "investing.com: Economic Week Ahead: Will PCE Inflation Validate the Fed’s Hawki",
      "url": "https://www.investing.com/analysis/economic-week-ahead-will-pce-inflation-validate-the-feds-hawkish-shift-200682501",
      "published_at": "2026-06-22T00:00:00.000Z",
      "retrieved_at": "2026-06-22T13:32:28+00:00"
    }
  ],
  "field_provenance": {
    "pm_data": "kalshi_api",
    "news_context": "exa_search",
    "editorial_judgment": "cm_signal_llm_judge"
  },
  "canonical_urls": {
    "html": "https://clearmarket.fyi/signals/may-core-pce-above-0-2-kalshi-ladder-48-89-2026-06-22/",
    "json": "https://clearmarket.fyi/signals/may-core-pce-above-0-2-kalshi-ladder-48-89-2026-06-22.json"
  },
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "_provenance_registry": {
    "direct": "Unaltered extraction from primary venue/source API (e.g., polymarket_clob_api, kalshi_api, BLS, FRED). Highest trust tier.",
    "mediated": "Information fetched via grounded agentic retrieval (e.g., perplexity_grounded). MUST carry source_url to the underlying primary source.",
    "derived": "Algorithmic computation from listed inputs. Chain only as fresh as the oldest input timestamp (see as_of).",
    "editorial": "Interpretive classification produced by a versioned LLM prompt template (prompts auditable in github.com/JDSource/clearmarket/prompts)."
  },
  "_provenance_canonical": "https://clearmarket.fyi/schema/provenance/v1"
}