{
  "_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."
  },
  "event_id": "CM-EVT-P5T3182YV0",
  "slug": "kxfdaapprovalpsychedelic-27",
  "question": "Will the FDA approve any psychedelic substance for medical use this year?",
  "category": "technology",
  "event_type": "BINARY",
  "ladder_distribution": null,
  "tags": [
    "technology",
    "psychedelics",
    "fda-approval",
    "medical-regulation",
    "clinical-trials",
    "2027"
  ],
  "catalyst_types": [],
  "catalyst_dates": [],
  "editorial_notes": "This event tracks whether the FDA grants formal approval to any psychedelic substance for medical use before January 1, 2027. Only one market exists here, structured as a binary outcome on Kalshi. Resolution is determined by Kalshi staff based on an official FDA approval announcement. No cross-platform structural contrast applies with a single-venue listing.",
  "venues_covered": [
    "kalshi"
  ],
  "primary_market_id": "CM-MKT-8X8YNFJXR3",
  "current_primary_mark": {
    "last_price": 0.39,
    "implied_probability": 0.39
  },
  "created_at": "2026-07-23T21:11:14.426158+00:00",
  "updated_at": "2026-07-23T21:11:14.426158+00:00",
  "markets": [
    {
      "market_id": "CM-MKT-8X8YNFJXR3",
      "event_id": "CM-EVT-P5T3182YV0",
      "platform": "kalshi",
      "platform_market_id": "KXFDAAPPROVALPSYCHEDELIC-27-ANYPSYCH",
      "question": "Will the FDA approve Any psychedelic substance for medical use this year?",
      "description": "Any psychedelic substance for medical use",
      "contract_type": "binary",
      "settlement_currency": "USD",
      "underlying_reference": "The FDA announces approval of any psychedelic substance for medical use by January 1, 2027.",
      "close_at": "2027-01-01T04:59:00Z",
      "resolve_at": "2027-01-01T15:00:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "If the FDA approves any psychedelic substance for medical use for marketing before Jan 1, 2027, then the market resolves to Yes.\n\nPsychedelic drugs include: LSD, Psilocybin, DMT, Mescaline, MDMA, MDA, PCP, DXM, Ibogaine, Salvia divinorum, 2C family, and Ayahuasca.\n\nImportant information: For purposes of this Contract:\n\nThe listed substances are illustrative, not exhaustive. Approval of any other substance commonly recognized in scientific or FDA documentation as a psychedelic, hallucinogen, or entactogen (for example, psilocin, 5-MeO-DMT, methylone, or 2C-, DOx-, or NBOMe-family compounds) may also satisfy the Payout Criterion.\n\n\"Approval for medical use\" means an FDA approval letter for an NDA or BLA authorizing marketing of a drug or biologic for human medical use in the United States, where a listed (or otherwise qualifying) psychedelic substance is an active pharmaceutical ingredient of the approved product. Complete Response Letters, tentative approvals, Emergency Use Authorizations, expanded access or compassionate use authorizations, and approvals limited to export do not satisfy the Payout Criterion.\n\nCombination products. Approval of a combination drug product satisfies the Payout Criterion only if at least one active ingredient is a listed (or otherwise qualifying) psychedelic substance and that psychedelic active ingredient has not previously been approved by the FDA via NDA or BLA for any human medical indication. By way of example, an FDA approval of AXS-05 (a combination of dextromethorphan and bupropion) for a new indication does not satisfy the Payout Criterion, because both active ingredients were FDA-approved prior to Issuance.\n\nNew indications for previously-approved substances. An FDA approval (including via supplemental NDA or supplemental BLA) of a new medical indication, dosage, or formulation for a substance whose active pharmaceutical ingredient was already approved by the FDA via NDA or BLA prior to Issuance does not satisfy the Payout Criterion.\n\nAdvisory Committee votes, sponsor withdrawals, and CRLs do not by themselves resolve the Contract. Resolution turns solely on whether a qualifying FDA approval letter is issued after Issuance and before January 1, 2027.",
        "arbitration_model": "kalshi_staff",
        "proposer": "platform_staff",
        "source": "U.S. Food and Drug Administration.",
        "source_status": "platform_named",
        "source_citation": "https://www.fda.gov/news-events/fda-newsroom/press-announcements",
        "sources": [
          {
            "name": "U.S. Food and Drug Administration.",
            "url": "https://www.fda.gov/news-events/fda-newsroom/press-announcements",
            "provenance": "platform_api"
          },
          {
            "name": "FDA",
            "url": "https://www.fda.gov/drugs/novel-drug-approvals-fda/novel-drug-approvals-2024",
            "provenance": "platform_api"
          }
        ],
        "source_of_record": "U.S. Food and Drug Administration",
        "source_mechanism": "single_authority",
        "source_type": null,
        "source_quality": "authoritative",
        "source_commitment": "named",
        "source_commitment_subtype": "named",
        "source_hedge_text": null
      },
      "rcg": {
        "grade": "A",
        "score": 100,
        "caps": [],
        "applied_factors": 6
      },
      "last_price": 0.39,
      "implied_probability": 0.39,
      "volume_24h_usd": 411.5319,
      "volume_total_usd": 140179.7163,
      "settlement_style": "occurrence",
      "direction": "occurrence",
      "threshold": null,
      "question_id": "CMX-0E9F818000",
      "also_on": null,
      "tags": [
        "approval",
        "fda",
        "fda psychedelic approval",
        "mdma",
        "medical",
        "psilocybin",
        "psychedelics"
      ],
      "eligibility_screens": [
        {
          "regime": "ciro-26-0076",
          "screen_version": "v1",
          "status": "not_eligible",
          "reasons": [
            "category_not_permitted"
          ],
          "bucket": null,
          "screened_at": "2026-06-12"
        }
      ]
    }
  ],
  "resolution_log": [],
  "_provenance": {
    "source": "clearmarket.fyi",
    "ref": "CM-EVT-P5T3182YV0",
    "terms": "Attribution required. clearmarket.fyi"
  }
}