If the end-of-day S&P 500 index value on January 16, 2026 is below 6550, then the market resolves to Yes. The market will close on January 16, 2026. The market will expire at the sooner of the first release of the data, or one week after January 16, 2026. Pursuant to the Kalshi Rulebook, the Exchange has modified the Source Agency and Underlying for indices markets. See the rules for more information.