- Will the Rhine River return to normal levels between October 1 and October 31, 2026?62¢62%
- Will the Rhine River fail to return to normal levels before November 1, 2026?36¢36%
Persistent low water levels on the Rhine, with key gauges such as Kaub near 12–16 cm and others like Maxau and Lobith well below seasonal norms, continue to disrupt navigation as of mid-October 2026. Official reports from Germany’s Federal Institute of Hydrology note that recent localized rain has produced only modest, temporary rises insufficient for lasting recovery, following extreme low-flow conditions that set or approached record lows through summer and early autumn. Catchment precipitation remains below average, and forecasts indicate gradual improvement rather than normalization before late fall. These hydrological trends underpin trader consensus favoring no return to normal levels before November 1, while any sustained October rebound would require heavier, widespread rainfall not currently projected.
Rules
This market will resolve according to the date (Berlin time) when the water level at the Kaub gauge (station 25700100) on the Rhine River first reaches or exceeds 77 centimeters, as reported by the German Federal Waterways and Shipping Administration (WSV) via PegelOnline. A reading of 77 centimeters or higher is the equivalent water level (Gleichwertiger Wasserstand, GlW) for Kaub, the low-water reference mark below which shipping becomes structurally disrupted, and defines "normal levels" for this market. The resolution is triggered by the first reading at or above 77 centimeters recorded on or after the market's start, representing a rise back to the threshold. A single reading at or above 77 centimeters is sufficient to trigger resolution; transient spikes count, and the water level does not need to be sustained at or above 77 centimeters for any period. If readings for timestamps on or after November 1, 2026 (Berlin time) are available on the resolution source, and no reading at or above 77 centimeters has been recorded for a timestamp before November 1, 2026 (Berlin time), this market will resolve to "No return before November 1, 2026." If readings for timestamps on or after November 1, 2026 (Berlin time) have not been recorded on the resolution source by November 2, 2026, 11:59 PM Berlin time, and no reading at or above 77 centimeters has been recorded for a timestamp before November 1, 2026 (Berlin time), this market will resolve to "No return before November 1, 2026." The resolution source for this market will be PegelOnline (https://www.pegelonline.wsv.de/gast/stammdaten?pegelnr=25700100).