Resolution Criteria
If the first calendar day in the 2026-27 winter season on which Sierra-at-Tahoe conducts Seasonal Opening Operations occurs before Jan 3, 2027, then the market resolves to Yes. How this is resolved
Seasonal Opening Operations require at least one passenger lift to carry members of the general public uphill for downhill skiing or snowboarding on terrain designated open for that use by Sierra-at-Tahoe.
The opening calendar day is determined in Eastern Time.
The season runs from September 1 through August 31 of the following year. “Before” excludes the specified date.
A name, branding, ownership, operator, or website change does not change the resort’s geographic identity.
If no Source Agency has documented Seasonal Opening Operations by expiration and there is insufficient information to determine their occurrence, the market resolves to last fair price, as determined by the Exchange in its sole discretion.
If Sierra-at-Tahoe is decommissioned, the market resolves to No.
Payout criteria
Access counts only when holders of a season pass valid for the specified season can use those lifts and terrain without an additional purchase.
Free reservations and passholder-only days count.
Any number of lifts, any amount of terrain, and any operating duration count.
Doesn’t count for payout
Employee, contractor, invited-media, private-event, and separately purchased early-access or preview days do not count.
Scenic rides, mountain biking, hiking, tubing, and uphill-only access do not count.
Scheduled, projected, or announced opening dates do not count.
Wildfire recovery, repair, construction, or other non-skiing access does not count.
Kalshi is not affiliated, associated, authorized, endorsed by, or in any way officially connected with the Sierra-at-Tahoe. All trademarks, logos, and brand names are the property of their respective owners. This market will close and expire early if Seasonal Opening Operations occur before the specified date or if the Source Agency reports that the ski resort will not open during the season.
