March 19, 2026 - March 20, 2026, the 'December 31' option price surged from 56.5c to 63.5c as the market continued to react to the Arizona criminal charges, with speculators over-betting that federal emergency intervention would translate into a formal Cert Grant within the year, ignoring procedural delays.
March 18, 2026 - March 19, 2026, the 'July 31' option price retraced from 31c to 22c as the market corrected after the initial panic, realizing the extremely low probability of clearing appeals and getting a grant by late July.
March 17, 2026 - March 18, 2026, the 'July 31' option price surged from 19.5c to 31c, and 'December 31' rose from 53.5c to 56.5c, triggered by the Arizona Attorney General formally filing criminal charges against Kalshi, causing panic buying on the expectation of emergency SCOTUS intervention.