Learn

The concepts behind the terminal

No jargon, no fluff — just the ideas that turn two different prices into a measurable edge.

Guides

Why the same game carries two different prices — and how to read the gap between a prediction market and a devigged book.

The vig: The margin a sportsbook bakes into its odds. Both sides add up to more than 100% — the excess is the house's cut.
Devigging: Stripping that margin back out so probabilities sum to 100%. What's left is the market's honest read.
The fair line: The median devigged probability across every major book — the consensus price, before anyone's margin.
Edge: Fair line minus the Kalshi contract price, in cents. Positive means the contract is cheap relative to consensus.
Crossed market: When two venues disagree enough that opposite positions at each lock in a profit no matter the outcome.
Closing-line value: Whether the price moved toward your entry by game time. Beating the close is the sharpest proof an edge was real.

See the concepts live

Every idea here is running on the board right now — real markets, real gaps, refreshed every minute.