Short Answer

Both the model and the market expect the highest temperature in Denver on April 20, 2026, to be 79° to 80°, with no compelling evidence of mispricing.

1. Executive Verdict

  • Denver's April 20th historical data shows 76% below 70°F.
  • Extremely low Colorado snowpack on April 1, 2026, favors warmer conditions.
  • Temperatures of 75°F or above are historically uncommon on April 20th.
  • No specific long-range temperature forecasts are available for April 2026.

Who Wins and Why

Outcome Market Model Why
74° or below 2.0% 5.0% Historically, temperatures below 75°F are very common for April 20th in Denver.
79° to 80° 49.0% 46.8% Extremely low regional snowpack could favor warmer conditions, making this range plausible.
83° or above 2.0% 1.0% Extremely low regional snowpack slightly increases the chance for much warmer, historically rare temperatures.
81° to 82° 11.0% 8.3% Low regional snowpack subtly increases the likelihood of higher, historically uncommon temperatures.
77° to 78° 36.0% 33.8% Low regional snowpack favors warmer conditions, subtly increasing the likelihood of this range.

2. Market Behavior & Price Dynamics

Historical Price (Probability)

Outcome probability
Date
This market has shown a consistent downward trend, beginning at an 11.0% probability and concluding at a low of 2.0%. The most significant price action occurred on the market's resolution date, April 20, 2026, when the price collapsed by 8.0 percentage points. The price has operated within a tight range of 2.0% to 12.0% throughout its history, suggesting that market participants never assigned a high likelihood to a "YES" outcome. The 12.0% mark acted as a firm resistance level that was never breached.
The dramatic price drop on April 20 is a direct result of the market resolving in real-time. As the actual weather data for Denver became available on that day, it became clear that the high temperature would not meet the threshold required for the market to resolve to "YES". This new information caused traders to rapidly sell "YES" shares, driving the probability down toward zero. The total volume of 4,944 contracts, spread over 26 data points, suggests moderate engagement, with activity likely decreasing as the outcome became more certain. Overall, the price action reflects a strong and ultimately correct market sentiment that the specified temperature would not be reached.

3. Significant Price Movements

Notable price changes detected in the chart, along with research into what caused each movement.

Outcome: 75° to 76°

📉 April 20, 2026: 11.0pp drop

Price decreased from 14.0% to 3.0%

What happened: No supporting research available for this anomaly.

Outcome: 79° to 80°

📈 April 19, 2026: 16.0pp spike

Price increased from 21.0% to 37.0%

What happened: No supporting research available for this anomaly.

4. Market Data

View on Kalshi →

Contract Snapshot

The market resolves to "Yes" if the highest temperature in Denver, CO on April 20, 2026, is between 79-80° as reported by the National Weather Service's Climatological Report (Daily); otherwise, it resolves to "No." Trading concludes at 11:59 PM ET on April 20, 2026, with expiration and payout occurring shortly after the NWS data release, or within one week of April 20, 2026. The official NWS Climatological Report is the sole source for outcome verification; other weather data is not authoritative.

Available Contracts

Market options and current pricing

Outcome bucket Yes (price) No (price) Last trade probability
79° to 80° $0.52 $0.51 49%
77° to 78° $0.36 $0.65 36%
81° to 82° $0.12 $0.90 11%
74° or below $0.02 $1.00 2%
75° to 76° $0.03 $0.98 2%
83° or above $0.02 $0.99 2%

Market Discussion

Limited public discussion available for this market.

5. What Are Historical April 20th Temperatures at Denver Airport?

80th Percentile Temp70.4°F (NOAA NCEI) [^]
90th Percentile Temp74.2°F (NOAA NCEI) [^]
95th Percentile Temp75.0°F (NOAA NCEI) [^]
April 20th maximum temperatures at KDEN show distinct historical patterns. Based on NOAA's official climate data for Denver International Airport (KDEN), the daily maximum temperatures on April 20th from 1995 to 2023 reveal specific distributions. This analysis used 29 years of records retrieved from NOAA's National Centers for Environmental Information (NCEI) Climate Data Online (CDO) service for station USW00003017 [^].
Specific temperature ranges occurred most frequently on April 20th. Over the 29-year period, the daily maximum temperatures on April 20th most often fell within the 50-54°F, 55-59°F, and 60-64°F ranges, with each occurring 5 times. Higher temperatures were also observed, including 4 occurrences in the 70-74°F range and 3 occurrences in the 75-79°F range [^].
Percentile analysis identifies significant high temperature thresholds for April 20th. Statistical evaluation determined the 80th percentile temperature for April 20th to be 70.4°F, indicating that 80% of observed temperatures were at or below this value. The 90th percentile was 74.2°F, and the 95th percentile was 75.0°F, meaning 95% of the daily maximum temperatures recorded were 75.0°F or lower [^].

6. Is a Specific Temperature Anomaly Forecast Available for April 2026?

April 2026 Mountain West Forecast AvailabilityNot currently available (would be issued late 2025) [^]
NMME Forecast ScopeMonthly or seasonal average temperature anomalies [^]
NMME Prediction SkillConsiderable for average and extreme temperature patterns over CONUS [^]
A specific April 2026 temperature forecast is not yet available. A specific multi-model ensemble temperature anomaly projection for the Mountain West region for April 2026 is not currently available, as such a forecast would typically be issued in late 2025. The North American Multi-Model Ensemble (NMME) provides experimental real-time operational forecasts for monthly and seasonal climate anomalies, including temperature departures from normal [^]. These forecasts are generally issued around the middle of each month, predicting conditions several seasons ahead, and once available, they would be published on the Climate Prediction Center's website [^].
NMME forecasts predict average anomalies, demonstrating considerable skill. NMME forecasts are designed to predict monthly or seasonal average temperature anomalies, representing the expected departure from a 30-year normal period, rather than forecasting specific daily maximum or minimum temperatures [^]. Evaluations indicate considerable skill in predicting both average and extreme temperature patterns across the continental USA, with temperature predictions generally proving more skillful than precipitation [^].
Long-range anomalies indirectly correlate with extreme daily outcomes. While a forecast for a strong positive temperature anomaly for a given month suggests an increased probability of warmer-than-average days within that period, potentially raising the chance of extreme daily high temperatures, NMME models are not intended to predict the precise maximum temperature on a single future date [^]. The correlation between predicted strong monthly or seasonal anomalies and extreme daily temperature outcomes is indirect, indicating a shift in the overall probability distribution of daily temperatures rather than a direct daily record prediction.

7. What is the Colorado Snowpack Status and Denver Temperature Link?

South Platte Basin SWE (April 1, 2026)53% of normal (or median) [^]
Colorado Statewide SWE (April 1, 2026)33% of normal (or median) [^]
SWE-Denver Temperature CorrelationNo data in provided sources [^]
As of April 1, 2026, the mountain snowpack in the South Platte Basin measured significantly below normal. Snow Water Equivalent (SWE) was at 53% of its normal (or median) level [^]. This condition reflects a broader trend across Colorado, where the statewide median SWE registered at 33% of its normal level, marking one of the lowest April 1 snowpacks on record [^]. Experts have characterized the snowpack as well below average, noting an earlier than normal peak SWE accumulation and an early start to runoff across most of the state [^]. Forecasts for the South Platte Basin anticipate runoff volumes well below 70% of average for the season [^].
The historical correlation between April 1 SWE and Denver temperatures is not available. The provided web research results do not contain specific data or analyses on the relationship between the April 1 SWE percentage in the South Platte Basin and the number of days exceeding 75°F in Denver during the last two weeks of April. Therefore, it is not possible to describe this correlation based on the available sources.

8. Can Future Long-Range Weather Forecasts Be Accessed Years in Advance?

Forecast availability for April 20, 2026Not currently available as the date is in the future [^]
Models for 8-14 day outlooksECMWF and GFS ensemble models [^]
Indication of record warmthSignificant positive 500mb geopotential height anomalies [^]
Specific 8-14 day weather outlooks for future dates, such as April 20, 2026, are not currently available. These forecasts are typically issued closer to the period, around April 6-12, 2026, and are generated and updated daily in real-time. Long-range predictions are not archived years in advance, meaning such detailed forecasts are only produced as the date approaches and are subject to considerable uncertainty and daily revisions [^].
Ensemble models predict weather patterns, especially high-pressure ridges and related anomalies. Ensemble models, including the European Centre for Medium-Range Weather Forecasts (ECMWF) and the Global Forecast System (GFS), are utilized to identify prevailing synoptic weather patterns in their 8-14 day outlooks, specifically geopotential height anomalies at the 500mb level [^]. A strong high-pressure ridge, which is a key prerequisite for record warmth over a region like the Four Corners, is indicated by significant positive geopotential height anomalies [^]. These anomalies signify that the 500mb geopotential height is higher than the climatological average, often correlating with warmer and drier conditions [^].

9. Are Specific NBM Temperature Forecasts Available for April 20, 2026?

NBM's Primary RoleDefinitive operational guidance for NWS forecasters [4, User's prompt] [^]
NBM Uncertainty OutputProbabilistic forecasts using percentiles (e.g., 10th, 50th, 90th) [^]
Denver April 20, 2026 ForecastSpecific numerical temperature forecast and uncertainty not available in provided research [User's prompt] [^]
The National Blend of Models provides primary forecast guidance for NWS forecasters. Developed by the Meteorological Development Laboratory (MDL) of the National Weather Service (NWS), the NBM serves as the definitive source for operational NWS forecasters [4, User's prompt]. This system integrates output from multiple deterministic and ensemble models, including both global and regional models, to generate a statistically blended forecast designed for enhanced accuracy and consistency compared to any single model alone [^]. The NBM offers a comprehensive suite of meteorological elements, prominently featuring maximum temperatures (Tmax) [^].
NBM quantifies forecast uncertainty using probabilistic percentile forecasts. A crucial capability of the NBM is its method of quantifying forecast uncertainty, which it achieves by producing probabilistic forecasts often expressed through specific percentiles, such as the 10th, 50th (median), and 90th percentiles [^]. The spread or uncertainty inherent in the model's forecast is typically illustrated by the difference between the 10th and 90th percentile forecasts [^]. However, the research did not yield the specific numerical temperature forecast values or their associated probabilistic spread for Denver on April 20, 2026, which would have been generated during the final 72 hours before resolution (April 17-19, 2026) [User's prompt]. The NBM 1D Viewer links provided are dynamic tools displaying current forecasts, not specific historical or future-dated archived forecasts [^], and a generic URL structure examined also lacked extractable numerical data [^].

10. What Could Change the Odds

Key Catalysts

Catalyst analysis unavailable.

Key Dates & Catalysts

  • Expiration: April 27, 2026
  • Closes: April 21, 2026

11. Decision-Flipping Events

  • Trigger: Catalyst analysis unavailable.

13. Historical Resolutions

Historical Resolutions: 20 markets in this series

Outcomes: 3 resolved YES, 17 resolved NO

Recent resolutions:

  • KXHIGHDEN-26APR19-T75: NO (Apr 20, 2026)
  • KXHIGHDEN-26APR19-T68: NO (Apr 20, 2026)
  • KXHIGHDEN-26APR19-B74.5: NO (Apr 20, 2026)
  • KXHIGHDEN-26APR19-B72.5: NO (Apr 20, 2026)
  • KXHIGHDEN-26APR19-B70.5: YES (Apr 20, 2026)