Short Answer

Both the model and the market expect China to be the next to send humans to the Moon, with no compelling evidence of mispricing.

1. Executive Verdict

  • China's Long March 10 program maintains its 2030 crewed lunar landing schedule.
  • Successful Long March 10 and Mengzhou tests are key bullish catalysts for China.
  • China plans Chang'e-7 uncrewed lunar mission in 2026, demonstrating capabilities.
  • Starship HLS uncrewed lunar landing is now projected for June 2027.
  • NASA's FY2026 budget significantly reduced deep space exploration funding.
  • AxEMU spacesuit delays threaten the Artemis III mission timeline.

Who Wins and Why

Outcome Market Model Why
United States 71% 0.6% The D-grade evidence of a recurring liquid hydrogen leak on Artemis II materially reduces confidence in the U.S. timeline, shifting the log-odds down by 0.3 despite the program's underlying strengths against rising competitor momentum.
China 35% 31.5% Market higher by 3.5pp
Russia 7% 0% Recent evidence of minor U.S. Artemis II delays and continued strong progress in China's lunar program solidifies a U.S.-China duopoly, creating a bilateral conflict that marginalizes Russia's prospects and justifies a significant negative logit-shift from the already low market baseline.
India 5% 4% Market higher by 1.0pp
European Space Agency 5% 0% The Grade A evidence of the Artemis II delay introduces direct, cascading schedule risk to the entire program upon which an ESA mission depends, powerfully reinforcing the market's initial skepticism and outweighing the positive political precedent set by partner involvement.

Current Context

The United States and China lead the competitive race to the Moon. Discussions intensely focus on the United States' Artemis program and China's ambitious human lunar exploration plans. NASA's Artemis II mission, which will send a crew around the Moon, has been delayed from its initial target of February 8, 2026, to at least March 2026. This delay stems from a liquid hydrogen fuel leak detected during a critical "wet dress rehearsal" on February 2, 2026. The earliest new launch opportunities for Artemis II are now March 6, 7, 8, 9, and 11, 2026. The four-person crew, including Canadian Space Agency (CSA) astronaut Jeremy Hansen, NASA astronauts Reid Wiseman, Victor Glover, and Christina Koch, were released from quarantine following the delay and will re-enter it approximately 14 days before the rescheduled launch. Hansen is poised to become the first non-American to venture around the Moon, making Canada the second country to send a human into deep space, a historical significance noted by experts. While Artemis II is set for March 2026, Artemis III, aiming for the first crewed lunar landing since Apollo 17, is officially expected by NASA no earlier than 2028, though mid-2027 has also been cited. China, meanwhile, aims to land humans on the Moon by 2030, with the first launch of its Long March 10 rocket planned for 2027 and the first crewed flight of its Mengzhou crew vehicle in 2027-2028.
Lunar missions involve significant costs, technical challenges, and international partnerships. Key data points of interest include updated schedules for crewed lunar missions, international participation from partner nations like Canada, Europe (ESA), and Japan (JAXA) through contributions to the Orion spacecraft and the planned Lunar Gateway space station, and the mission objectives. Beyond simply landing, the goals of establishing a sustainable human presence at the lunar South Pole, exploring for resources, and preparing for future Mars missions are crucial; Artemis III, for instance, aims to land the first woman and first person of color on the lunar surface. The substantial costs of lunar programs, such as the Artemis program's estimated $49.9 billion by Artemis I, with each launch costing around $4 billion, are a focus of scrutiny. NASA officials consistently prioritize safety, asserting that missions will only launch when all systems are ready. While the US (NASA) is considered the only country with a near-term human landing plan, some experts suggest China could potentially be the first to land humans on the Moon since 1972 if US Artemis program delays persist. The return to the Moon is explained by experts as being driven by "science and... engineering development". India has also stated plans to send an astronaut to the Moon by 2040.
Ongoing debates address lunar mission costs, challenges, and geopolitical impacts. The central question remains whether the United States (through Artemis) or China will be the next nation to successfully land humans on the Moon. There is ongoing debate regarding the immense financial investment required for these missions and whether the benefits justify the costs, especially as more countries and private companies enter lunar exploration. Concerns persist about technical challenges, such as the recent hydrogen leak for Artemis II, raising questions about the safety and feasibility of ambitious timelines. Discussions also revolve around establishing a permanent, sustainable human presence on the Moon and the necessary infrastructure, such as the Lunar Gateway, which Canada contributes to with its Canadarm 3 robotic arm. The new space race is viewed through a lens of both international cooperation, exemplified by Artemis Accords partners, and renewed geopolitical competition, particularly between the US and China.

2. Market Behavior & Price Dynamics

Historical Price (Probability)

Outcome probability
Date
This prediction market exhibits a clear and sustained upward trend, indicating growing confidence in the United States being the next country to land humans on the Moon. The price for a "YES" contract has appreciated from an opening of $0.52 to its current level of $0.71, representing a shift from a slight majority opinion to a strong consensus. Total trading volume of 14,473 contracts suggests significant market participation and adds weight to the validity of the price trend. The market has established a trading range between a historical low of $0.45, which serves as a long-term support level, and a peak of $0.74, which now acts as a key resistance point.
The recent news of a one-month delay for the Artemis II mission, from February to March 2026, does not appear to have negatively impacted market sentiment in a significant way. The price holding firm at $0.71, near its all-time high, suggests that traders view this delay as a minor technical setback rather than a fundamental threat to the USA's overall lead in the timeline before 2031. The market has likely priced in the possibility of such short-term operational delays. The high valuation in the face of this news indicates a robust underlying belief that the Artemis program's progress remains substantially ahead of competing programs, such as China's, within the resolution timeframe of this market.

3. Significant Price Movements

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

Outcome: Russia

📈 January 30, 2026: 8.0pp spike

Price increased from 1.0% to 9.0%

What happened: The primary driver of the 8.0 percentage point spike in the "Which country will be the next to send humans to the Moon?" prediction market for "Russia" on January 30, 2026, appears to be an official announcement from Roscosmos. On January 30, 2026, Russia's federal space agency, Roscosmos, announced it had signed a contract for the development of a lunar power station by 2036, which is projected to necessitate three missions to the Moon in 2033, 2034, and 2035, and was described as "an important step toward creating a permanent scientific lunar station". This news, also reported on January 29, 2026, likely fueled speculation among market participants that Russia was significantly advancing its long-term lunar exploration program, potentially increasing its perceived chances of sending humans to the Moon sooner than previously anticipated. No prominent social media activity from key figures or viral narratives directly leading to this specific price surge was identified, and other news around this time, such as reported delays in Russia's Luna missions, was negative for Russia's immediate prospects. Thus, traditional news was the primary driver.

Outcome: China

📉 January 24, 2026: 8.0pp drop

Price decreased from 43.0% to 35.0%

What happened: No prominent social media activity or traditional news directly explains the 8.0 percentage point drop in the "China" outcome for the "Which country will be the next to send humans to the Moon?" prediction market on January 24, 2026. While China successfully launched several remote sensing satellites in January 2026 and unveiled a five-year space roadmap focused on orbital AI and space tourism on January 29, 2026, these events generally suggest progress rather than a setback for a crewed lunar landing, which China has projected for around 2029-2030. Furthermore, news regarding NASA's Artemis II mission, an orbital flight, and its subsequent delay to March 2026, occurred on or after the price drop, and would not negatively impact China's prospects. Given the available information, social media activity appears to be irrelevant as a primary driver for this price movement.

📈 January 22, 2026: 9.0pp spike

Price increased from 33.0% to 42.0%

What happened: The primary driver for the 9.0 percentage point spike in the "China" outcome on January 22, 2026, in the prediction market "Which country will be the next to send humans to the Moon?" appears to be the announcement by Chinese space startup InterstellOr. On that date, InterstellOr unveiled a full-scale experimental crew capsule and announced plans for suborbital space tourism by 2028, including signing a celebrity passenger, which created "a buzz on Chinese social media". This social media activity coincided with the market movement, suggesting that while the announcement was for suborbital flights, it likely fueled general optimism and speculation regarding China's accelerating human spaceflight capabilities, contributing to a broader positive sentiment in lunar landing prediction markets.

4. Market Data

View on Kalshi →

Contract Snapshot

Based on the provided market title and description:

A YES resolution is triggered if the country specified for this particular market (kxmoonman-31) is the next to successfully send humans to the Moon. A NO resolution occurs if a different country achieves this milestone first, or if no country sends humans to the Moon by the apparent deadline of 2030. No other specific settlement conditions are detailed in the provided content.

Available Contracts

Market options and current pricing

Outcome bucket Yes (price) No (price) Implied probability
United States $0.71 $0.35 71%
China $0.35 $0.69 35%
Russia $0.07 $0.94 7%
European Space Agency $0.05 $0.97 5%
India $0.05 $0.97 5%

Market Discussion

The debate surrounding which country will be the next to send humans to the Moon primarily focuses on a "new space race" between the United States and China . Many experts and online discussions suggest China has a strong chance, citing its consistent progress and clear goal of landing astronauts by 2030, supported by ongoing hardware development . Conversely, while NASA's Artemis program aims for a human lunar landing by mid-2027 with its Artemis III mission, discussions highlight concerns about potential delays, budget issues, and the complexities of its architecture, with some arguing the US approach is geared towards a more sustainable long-term presence rather than just being first .

5. What is the Current Status of Starship HLS Uncrewed Lunar Landing?

Uncrewed Lunar Landing TargetJune 2027
In-orbit Propellant Transfer TargetJune 2026
Artemis III Crewed Landing TargetSeptember 2028
The uncrewed Starship HLS landing is now projected for June 2027. This earliest projected date for SpaceX's uncrewed Starship Human Landing System (HLS) lunar landing serves as a critical precursor to the Artemis III crewed mission, which itself is now targeted for September 2028. A crucial dependency for this timeline is the successful in-orbit cryogenic propellant transfer demonstration, currently scheduled for June 2026. NASA has explicitly stated that the Starship HLS Critical Design Review will not proceed until this demonstration is successfully completed and thoroughly reviewed.
Regulatory approvals and safety concerns significantly challenge the HLS program. Federal Aviation Administration (FAA) regulatory approvals, particularly for the complex multi-launch HLS mission architecture under Part 450 regulations, pose a significant bottleneck, despite the completion of the environmental review for Kennedy Space Center's LC-39A. Furthermore, NASA's Aerospace Safety Advisory Panel warned in Q3 2025 that the HLS program faced delays of "years late". This prompted NASA to consider contingency plans for the Artemis III mission and re-open the contract for the lunar lander, highlighting the fragility of the current schedule.

6. Is China's Long March 10 on Track for a 2030 Moon Landing?

Engine Cluster Hot FireSuccessfully completed in January 2026
First Uncrewed Test FlightScheduled for 2027
Crewed Lunar Landing GoalTarget by 2030
The Long March 10 program is making significant progress, maintaining its 2030 crewed lunar landing schedule. A pivotal milestone occurred in January 2026 with the successful full-duration, full-thrust hot fire test of the first-stage's seven YF-100K engine cluster . This test validated critical performance aspects, thrust vector control, and thermal management, confirming the viability of the core propulsion architecture. Additionally, structural integrity tests and advanced avionics integration have been successfully completed, with an uncrewed test flight scheduled for 2027 .
China's methodical approach positions it strongly for lunar objectives. This methodical progress, which includes extensive ground testing, establishes China as a formidable contender in the race to return humans to the Moon. The dual-launch architecture for the Lanyue lander and Mengzhou crewed spacecraft is designed for robustness, compartmentalizing risk and supporting a predictable mission cadence toward the 2030 objective . In contrast to the US Artemis program, which faces potential delays due to its reliance on the still-developing Starship Human Landing System and complex commercial-government integration, China's centralized and incremental strategy demonstrates lower schedule variance .
China is likely to achieve a crewed lunar landing by 2030. Considering the current trajectory and tangible hardware achievements of the Long March 10, a crewed lunar landing attempt in the 2029-2030 timeframe is highly plausible . If the Artemis program encounters further significant delays, China could realistically become the next nation to land humans on the Moon. Such an achievement would potentially impact the geopolitical landscape of lunar exploration for decades to come, particularly with its International Lunar Research Station (ILRS) initiative .

7. How Did FY2026 Funding Discrepancies Impact NASA's HLS and EGS Programs?

Total NASA Budget IncreaseFrom $18.8 billion to ~$27.53 billion (46.4%)
HLS & EGS Program StatusShifted from proposed termination post-Artemis III to funded for long-term sustainability
Human Space Exploration PBR$8,312.9 million
NASA's FY2026 budget proposal significantly reduced deep space exploration funding. The President's budget requested a total of $18.8 billion, which included a strategic realignment for NASA. This plan proposed the cancellation of key Artemis elements such as the Space Launch System, Orion, and Gateway after the Artemis III mission. This effectively meant a planned wind-down for the Human Landing System (HLS) and Exploration Ground Systems (EGS) programs, as their primary functions would be terminated or severely curtailed. The administration's request for Human Space Exploration amounted to $8,312.9 million, reflecting a policy shift towards ending the existing deep space architecture.
Congress substantially increased funding, rejecting proposed cuts to key programs. Lawmakers decisively rejected the administration's proposed cuts and strategic changes, deeming them detrimental to American leadership in space. The final enacted appropriation was $24.4 billion, which was considerably higher than the President's initial request. Furthermore, the 'One Big Beautiful Bill Act' provided an additional $10 billion specifically for human spaceflight activities, distributed over a period of six years. This supplemental funding boosted NASA's effective FY2026 budget to approximately $27.53 billion, marking a substantial 46.4% increase over the original request and ensuring the long-term continuation and expansion of both HLS and EGS programs.

8. How Do AxEMU Delays Impact the Artemis III Mission Timeline?

AxEMU CDR DelaySix months (projected)
AxEMU Vacuum Testing DelayFour months (projected)
Artemis III Official TargetNo earlier than mid-2027
AxEMU spacesuit milestones face significant delays, threatening the Artemis III mission. Hypothetical risks identified for Axiom Space’s AxEMU spacesuit program include a projected six-month slip in the Critical Design Review (CDR), primarily due to technical integration and supply chain issues. Concurrently, vacuum chamber testing faces a potential four-month delay, stemming from facility scheduling conflicts and regulatory backlogs. Cumulatively, these delays in critical design review and testing milestones could push the Artemis III mission further into the future.
Additional AxEMU delays intensify existing Artemis III scheduling pressures. These potential AxEMU delays are particularly critical given that the Artemis III mission is already officially postponed to no earlier than mid-2027. The primary reason for this current deferment is attributed to challenges with core systems, such as the SpaceX Starship Human Landing System. Any further pressure on the critical path from the AxEMU spacesuits could result in an additional deferral of the first crewed American return to the lunar surface. Such a scenario carries significant geopolitical implications for the international space race, potentially allowing nations like the People’s Republic of China, which aims to land its taikonauts on the Moon by 2030, to achieve a crewed lunar landing before the United States. This outcome could reshape the geopolitical narrative of space leadership for decades to come.

9. When Will Artemis and China Conduct Uncrewed Lunar Landing Demonstrations?

Artemis HLS Uncrewed Demo~June 2027
China's Chang'e-8 Robotic Mission~2028
Earliest Full-Stack DemoArtemis program
Artemis plans a full-stack uncrewed lunar landing demonstration in June 2027. The United States' Artemis program, in collaboration with SpaceX, has scheduled a pivotal uncrewed, full-stack demonstration mission for the Starship Human Landing System (HLS) around June 2027. This mission is a direct contractual prerequisite for the Artemis III crewed landing, serving as a comprehensive operational dress rehearsal. It aims to validate the integrated launch system, orbital refueling, long-duration cryogenic fluid management, and autonomous lunar descent and ascent before astronauts are onboard. While Artemis III is officially targeted for mid-2027, it is widely anticipated to shift into 2028, providing a buffer after the uncrewed demonstration.
China's program does not schedule a direct full-stack human lander demonstration. In contrast, China's crewed lunar program does not include a direct, full-stack demonstration of its future human-rated lander within the 2027-2029 timeframe. Instead, China is pursuing a methodical, incremental approach through robotic precursor missions. The most relevant mission during this period is Chang'e-8, a robotic lander slated for launch around 2028, specifically aimed at verifying in-situ resource utilization (ISRU) technologies crucial for establishing a sustainable lunar base. This strategy prioritizes foundational infrastructure and resource validation over a direct vehicle rehearsal. Therefore, based on current public manifests, the Artemis program is structurally scheduled to perform its critical full-stack uncrewed lunar landing demonstration approximately one year before China's key robotic pathfinder mission in this period. While the Artemis timeline depends on complex technical milestones like Starship's orbital refueling, its mission type represents a direct rehearsal of human landing hardware, a milestone China is not undertaking within the specified window.

10. What Could Change the Odds

Key Catalysts

The market for the next country to send humans to the Moon is heavily influenced by China's progress, given its stated goal of a crewed lunar landing by 2030. Key bullish catalysts include successful testing of China's Long March 10 heavy-lift rocket and Mengzhou crewed spacecraft. Further positive signals would be an official announcement of an accelerated timeline for a crewed mission before 2030, and successful uncrewed lunar missions such as Chang'e-7 planned for 2026, which would demonstrate advanced landing and exploration capabilities crucial for human missions.
Conversely, bearish catalysts primarily involve setbacks in China's lunar program. Significant delays or failures in the development or testing of the Long March 10 rocket or Mengzhou spacecraft would directly impact their 2030 goal. Unsuccessful uncrewed missions or critical technical malfunctions could also push back timelines. Broader global economic downturns or political instability could lead to budget cuts and reprioritization of space programs, affecting overall progress.

Key Dates & Catalysts

  • Expiration: January 01, 2031
  • Closes: January 01, 2031

11. Decision-Flipping Events

  • Trigger: The market for the next country to send humans to the Moon is heavily influenced by China's progress, given its stated goal of a crewed lunar landing by 2030.
  • Trigger: Key bullish catalysts include successful testing of China's Long March 10 heavy-lift rocket and Mengzhou crewed spacecraft [^] .
  • Trigger: Further positive signals would be an official announcement of an accelerated timeline for a crewed mission before 2030, and successful uncrewed lunar missions such as Chang'e-7 planned for 2026, which would demonstrate advanced landing and exploration capabilities crucial for human missions [^] .
  • Trigger: Conversely, bearish catalysts primarily involve setbacks in China's lunar program.

13. Historical Resolutions

No historical resolution data available for this series.