Short Answer

Both the model and the market expect the highest temperature in NYC on April 12, 2026 to be between 56° and 57°, with no compelling evidence of mispricing.

1. Executive Verdict

  • February 2026 SSW event extends winter weather risks into April for Northeast.
  • Fall 2025 above-normal Siberian snow cover correlates with colder US winters.
  • Warmer North Atlantic SSTs project above-normal coastal temperatures for March-April.
  • ENSO-neutral conditions are likely by spring 2026, with weak NYC temperature impact.
  • Market saw an 8.0 percentage point drop on April 11, 2026.

Who Wins and Why

Outcome Market Model Why
56° to 57° 44.0% 40.4% A lingering Stratospheric Polar Vortex in April 2026 suggests extended winter weather risks for the Northeast US.
55° or below 23.0% 21.4% An extended Stratospheric Polar Vortex and high Siberian snow cover indicate potential for colder April temperatures.
60° to 61° 7.0% 6.5% Warmer than average North Atlantic SSTs could provide a moderating influence on coastal temperatures.
64° or above 2.0% 1.9% Warmer than average North Atlantic Sea Surface Temperatures are projected, potentially raising coastal temperatures.
58° to 59° 29.0% 27.0% A predicted Sudden Stratospheric Warming event in Feb 2026 extends winter weather risks into April.

2. Market Behavior & Price Dynamics

Historical Price (Probability)

Outcome probability
Date
This market, which resolves based on the high temperature in NYC on April 12, 2026, has exhibited a consistent downward trend. The perceived probability of a 'YES' outcome has moved from an opening price of 32.0% to a current price of 24.0%. The most significant price movement was a sharp 8.0 percentage point drop on April 11, the day before the market's resolution. This move established the current price and the bottom of the market's trading range.
The sharp price drop on April 11 was not correlated with any provided news, but its timing strongly suggests the market was reacting to final short-term weather forecasts becoming available. A forecast for cooler weather would lower the probability of the 'YES' outcome, triggering the sell-off. The move was accompanied by significant trading volume, indicating strong conviction among participants. Following the drop, the price has stabilized at a new support level of 24.0% on lower volume, suggesting a consensus has formed at this new, lower probability. The overall market sentiment is clearly bearish, reflecting a decreased expectation that the temperature will reach the market's specified threshold.

3. Significant Price Movements

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

📉 April 11, 2026: 8.0pp drop

Price decreased from 32.0% to 24.0%

Outcome: 55° or below

What happened: No supporting research available for this anomaly.

4. Market Data

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Contract Snapshot

This market resolves to "Yes" if the highest temperature recorded in Central Park, New York, on April 12, 2026, is between 56-57°F, as reported by the National Weather Service's Climatological Report (Daily). Otherwise, it resolves to "No." The official data source is exclusively the NWS report, and traders should be aware of potential rounding nuances in preliminary data. The last time to trade is 11:59 PM ET on April 12, 2026, and the market expires the morning following the data release for that date (or by 12:59 AM EDT on April 13, 2026, at the latest).

Available Contracts

Market options and current pricing

Outcome bucket Yes (price) No (price) Last trade probability
56° to 57° $0.45 $0.56 44%
58° to 59° $0.29 $0.73 29%
55° or below $0.23 $0.78 23%
60° to 61° $0.07 $0.94 7%
62° to 63° $0.03 $0.98 3%
64° or above $0.01 $1.00 2%

Market Discussion

Limited public discussion available for this market.

5. What Are ENSO Forecasts for April-June 2026 and NYC Temperature Impacts?

ENSO-neutral Probability April-June 202665% [^]
ENSO Condition Forecast Feb-Apr 2026Transition to ENSO-neutral conditions [^]
El Niño NYC April Temp ImpactSlight tendency for warmer Aprils [^]
Primary long-range climate models project a shift towards ENSO-neutral conditions by spring 2026. A La Niña Advisory is currently active and is expected to continue through the Northern Hemisphere winter of 2025-26, subsequently transitioning to ENSO-neutral conditions during spring 2026 [^]. For the April-May-June 2026 season, ENSO-neutral is projected to be the most probable scenario with a 65% likelihood, significantly higher than the 20% for El Niño and 15% for La Niña [^]. This forecast indicates that the Oceanic Niño Index (ONI) will likely fall within the -0.5°C to +0.5°C range for the February-April 2026 period [^].
ENSO's influence on NYC April temperatures is historically weak. The impact of both El Niño and La Niña on New York City's April temperatures is generally less consistent when compared to winter months [^]. Specifically, during El Niño springs, NYC April temperatures have shown only a minor and inconsistent tendency towards being warmer than average [^]. Conversely, La Niña springs have not exhibited any clear or consistent signal regarding NYC April temperatures [^].

6. What are North Atlantic SSTs projected for March-April 2026?

MDR SST Anomalies+0.5°C to +1.5°C above average [^]
U.S. East Coast SST Anomalies+0.3°C to +1.0°C above normal [^]
Projection PeriodMarch-April 2026 [^]
North Atlantic and MDR project above-normal sea surface temperatures. Forecasting for March-April 2026 indicates widespread above-normal Sea Surface Temperatures across the North Atlantic basin. The Main Development Region (MDR), which extends from the coast of Africa westward to the Caribbean Sea in the tropical North Atlantic, is specifically projected to experience positive SST anomalies. These anomalies are likely to range from +0.5°C to +1.5°C above the long-term average [^]. Such warmer-than-average waters in the MDR during the pre-season period are often highlighted in seasonal climate updates as a significant factor influencing the potential for robust hurricane activity later in the year [^].
U.S. East Coast also expects warmer SSTs, strengthening the Bermuda High. Along the U.S. East Coast, Sea Surface Temperature anomalies for March-April 2026 are also anticipated to be positive, generally falling within the range of +0.3°C to +1.0°C above normal [^]. This regional warmth is influenced by the broader North Atlantic SST patterns and contributes to the thermal forcing of the atmosphere. Warmer SSTs in the western North Atlantic and off the U.S. East Coast are known to support the strengthening and expansion of the Bermuda High pressure system [^]. A more robust Bermuda High during this period would typically lead to enhanced advection of warm, moist air into the eastern United States, potentially promoting warmer daily temperatures in areas such as New York City [^].

7. How will the 2026 SSW event impact prolonged cold risks?

Predicted SSW EventFebruary 2026 [^]
Fall 2025 Siberian SnowAbove-normal (October 2025) [^]
Polar Vortex InfluenceLingering into March and April 2026 [^]
A major Sudden Stratospheric Warming event is forecast for February 2026. This event is explicitly predicted to involve a polar vortex split and the influence of a massive atmospheric wave over North America [^]. A significant precursor for such stratospheric disturbances, above-normal Siberian snow cover, was observed across Eurasia in October 2025 [^]. Historically, this elevated snow extent has been associated with colder winter temperatures in the United States [^].
The Stratospheric Polar Vortex is expected to persist into Spring 2026. Despite the predicted Sudden Stratospheric Warming in February, the polar vortex is not anticipated to dissipate entirely. Forecasts indicate its continued relevance in the March 2026 outlook, with a core potentially lingering into Spring 2026 [^]. This persistence extends the risk of winter weather into April, suggesting a potential for prolonged cold outbreaks in regions like the Northeast US, possibly affecting temperatures around April 12, 2026 [^].

8. Is Central Park's First 65°F Day Arriving Earlier Since 2000?

Earliest 80°F Day RecordBroken (Previous record March 13, 1990) [^]
NYC Early 70°F DayReached in New York City [^]
Regional Temperature TrendWider region experienced above-normal temperatures [^]
The provided research does not offer specific data to confirm a 65°F trend. The available research does not contain specific data or a statistical analysis to confirm a significant trend in the timing of the first 65°F day of the year in Central Park since 2000. Therefore, a statistically validated trend for this temperature threshold or any potential influence from strong El Niño events cannot be established based solely on the provided information. Although general climate almanacs [^] and monthly/annual temperature summaries [^], [^] from the National Weather Service for Central Park exist, the research did not provide the detailed year-by-year occurrences of the first 65°F day or the necessary statistical analysis.
Broader observations, however, indicate an earlier arrival of spring warmth. Despite the absence of specific data for the 65°F threshold, broader observations from the research suggest a pattern of earlier warm temperatures in Central Park. A notable instance includes Central Park breaking its record for the earliest 80°F day, surpassing the previous record of March 13, 1990
The average temperature this time of year in Central Park is 48 degrees. https://abcnews.link/4yy6RAV">[^]. News reports further support this general trend, highlighting early warmth with temperatures reaching 70°F in NYC [^] and the wider region experiencing above-normal temperatures [^]. Additionally, archived weather articles refer to the occurrence of the year's first high temperatures in the 70s [^]. These collective indications point towards an overall tendency for higher spring temperatures to arrive earlier, though a direct statistical connection to the first 65°F day or El Niño events remains unaddressed by this research.

9. When Are Spring 2026 Temperature Forecasts Released & What Is Their Skill?

NOAA CPC Spring 2026 Outlook ReleaseMarch 21, 2026 [^]
ECMWF April 2026 Forecast AvailabilityAround April 4, 2026 [^]
NOAA CPC Northeast U.S. AMJ 2m Temperature HSS0 to 0.15 [^]
NOAA and ECMWF seasonal forecasts have distinct release timelines. The NOAA Climate Prediction Center (CPC) intends to issue its official Spring 2026 Outlook, which covers April, May, and June, on March 21, 2026 [^]. For the ECMWF, the SEAS5 seasonal forecast system's final pre-resolution run for early April 2026 is initialized on April 1, 2026, with its data expected to be available around April 4, 2026 [^].
NOAA CPC forecasts show modest historical skill for NYC region. Regarding historical forecast skill for 2m temperature anomalies in the NYC region, the NOAA CPC provides gridded seasonal verifications. For the April-May-June (AMJ) season, the Heidke Skill Score (HSS) for 2m temperature anomalies in the Northeast U.S. region, which encompasses NYC, typically ranges from 0 to 0.15 [^]. This range indicates generally positive but modest skill for these forecasts [^].
ECMWF SEAS5 demonstrates general positive skill, lacking specific NYC HSS. ECMWF's SEAS5 system also provides seasonal forecasts, generally demonstrating positive skill for 2m temperature across most global regions and various seasons [^]. While specific Heidke Skill Scores for the NYC region for the AMJ period are not detailed, verification studies for SEAS5 often highlight positive Anomaly Correlation Coefficient (ACC) values for 2m temperature in the extratropical Northern Hemisphere for relevant seasonal forecast lead times [^].

10. What Could Change the Odds

Key Catalysts

Catalyst analysis unavailable.

Key Dates & Catalysts

  • Strike Date: April 13, 2026
  • Expiration: April 19, 2026
  • Closes: April 13, 2026

11. Decision-Flipping Events

  • Trigger: Catalyst analysis unavailable.

13. Historical Resolutions

Historical Resolutions: 20 markets in this series

Outcomes: 4 resolved YES, 16 resolved NO

Recent resolutions:

  • KXHIGHNY-26APR10-T68: NO (Apr 11, 2026)
  • KXHIGHNY-26APR10-T61: NO (Apr 11, 2026)
  • KXHIGHNY-26APR10-B67.5: NO (Apr 11, 2026)
  • KXHIGHNY-26APR10-B65.5: NO (Apr 11, 2026)
  • KXHIGHNY-26APR10-B63.5: YES (Apr 11, 2026)