{
  "_notice": {
    "type": "free_key_offer",
    "message": "Free and anonymous access is staying. If this endpoint is in your pipeline, a free key adds advance notice before any schema change or deprecation. POST /v1/keys {\"email\": \"you@firm.com\"} — nothing else required. Something broken or missing? hello@clearmarket.fyi reaches a human.",
    "docs": "https://clearmarket.fyi/for-data/",
    "policy": "This field is additive and its shape will not change."
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  "event_id": "CM-EVT-1BNKFN8JX3",
  "slug": "kxfdaannounce-bpc",
  "question": "When will the FDA reclassify BPC-157 to Schedule I?",
  "category": "technology",
  "event_type": "BINARY",
  "ladder_distribution": null,
  "tags": [
    "technology",
    "fda-reclassification",
    "bpc-157",
    "bulk-drug-substances",
    "regulatory-approval",
    "2026"
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  "catalyst_types": [],
  "catalyst_dates": [],
  "editorial_notes": "These markets track whether the FDA will reclassify BPC-157 to Category 1 of the Bulk Drug Substances List by discrete deadlines in 2026. The four Kalshi contracts structure the same regulatory event across staggered time horizons: before July, before September, before November, and before 2027. Each tier prices an incremental probability window, allowing traders to isolate timing risk across the year. Kalshi staff will verify outcomes against the FDA's press announcements page, with a check date in September 2026.",
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    "as_of": "2026-09-03T21:00:46.150Z"
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  "updated_at": "2026-08-04T20:03:51.865287+00:00",
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      "close_at": "2026-07-01T03:59:00Z",
      "resolve_at": "2026-07-08T14:00:00Z",
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        "rules_raw": "If the FDA announces Reclassification of BPC-157 to Category 1 of the Bulk Drug Substances List before Jul 1, 2026, then the market resolves to Yes.\n\nThe Payout Criterion is satisfied by placement of BPC-157 in either Category 1 or Category 1 Bulk Drug Substances Under Evaluation on the 503A Bulk Drug Substances list, as either designation restores compounding eligibility. \nRemoval from Category 2 alone, without placement in Category 1, does not satisfy the Payout Criterion.",
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      "question": "When will FDA announce Reclassification of BPC-157 to Category 1 of the Bulk Drug Substances List?",
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        "rules_raw": "If the FDA announces Reclassification of BPC-157 to Category 1 of the Bulk Drug Substances List before Sep 1, 2026, then the market resolves to Yes.\n\nThe Payout Criterion is satisfied by placement of BPC-157 in either Category 1 or Category 1 Bulk Drug Substances Under Evaluation on the 503A Bulk Drug Substances list, as either designation restores compounding eligibility. \nRemoval from Category 2 alone, without placement in Category 1, does not satisfy the Payout Criterion.",
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      "question": "When will FDA announce Reclassification of BPC-157 to Category 1 of the Bulk Drug Substances List?",
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      "contract_type": "binary",
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      "underlying_reference": "Before November: The Food and Drug Administration's press announcements page will be checked by Kalshi staff on September 8, 2026, 14:00 UTC for an official announcement of the reclassification.",
      "close_at": "2026-11-01T04:59:00Z",
      "resolve_at": "2026-11-08T15:00:00Z",
      "status": "open",
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        "rules_raw": "If the FDA announces Reclassification of BPC-157 to Category 1 of the Bulk Drug Substances List before Nov 1, 2026, then the market resolves to Yes.\n\nThe Payout Criterion is satisfied by placement of BPC-157 in either Category 1 or Category 1 Bulk Drug Substances Under Evaluation on the 503A Bulk Drug Substances list, as either designation restores compounding eligibility. \nRemoval from Category 2 alone, without placement in Category 1, does not satisfy the Payout Criterion.",
        "arbitration_model": "kalshi_staff",
        "proposer": "platform_staff",
        "source": "Food and Drug Administration",
        "source_status": "platform_named",
        "source_citation": "https://www.fda.gov/news-events/fda-newsroom/press-announcements",
        "sources": [
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            "url": "https://www.fda.gov/news-events/fda-newsroom/press-announcements",
            "provenance": "platform_api"
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            "provenance": "clearmarket_editorial"
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        "source_mechanism": "single_authority",
        "source_type": null,
        "source_quality": "authoritative",
        "source_commitment": "named",
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      "rcg": {
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        "score": 93,
        "caps": [],
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      "last_price": 0.15,
      "implied_probability": 0.15,
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      "event_id": "CM-EVT-1BNKFN8JX3",
      "platform": "kalshi",
      "platform_market_id": "KXFDAANNOUNCE-BPC-27JAN01",
      "question": "When will FDA announce Reclassification of BPC-157 to Category 1 of the Bulk Drug Substances List?",
      "description": "Before 2027",
      "contract_type": "binary",
      "settlement_currency": "USD",
      "underlying_reference": "Before 2027: The Food and Drug Administration's press announcements page will be checked by Kalshi staff on September 8, 2026, 14:00 UTC for an official announcement of the reclassification.",
      "close_at": "2027-01-01T04:59:00Z",
      "resolve_at": "2027-01-08T15:00:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "If the FDA announces Reclassification of BPC-157 to Category 1 of the Bulk Drug Substances List before Jan 1, 2027, then the market resolves to Yes.\n\nThe Payout Criterion is satisfied by placement of BPC-157 in either Category 1 or Category 1 Bulk Drug Substances Under Evaluation on the 503A Bulk Drug Substances list, as either designation restores compounding eligibility. \nRemoval from Category 2 alone, without placement in Category 1, does not satisfy the Payout Criterion.",
        "arbitration_model": "kalshi_staff",
        "proposer": "platform_staff",
        "source": "Food and Drug Administration",
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        "source_citation": "https://www.fda.gov/news-events/fda-newsroom/press-announcements",
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        "source_mechanism": "single_authority",
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        "caps": [],
        "applied_factors": 6
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      "last_price": 0.44,
      "implied_probability": 0.44,
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      "settlement_style": "occurrence",
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      "question_id": null,
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      "question": "When will FDA announce Reclassification of BPC-157 to Category 1 of the Bulk Drug Substances List?",
      "description": "Before April 15",
      "contract_type": "binary",
      "settlement_currency": "USD",
      "underlying_reference": "Before April 15: The Food and Drug Administration's press announcements page will be checked by Kalshi staff on September 8, 2026, 14:00 UTC for an official announcement of the reclassification.",
      "close_at": "2026-04-15T03:59:00Z",
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