- Will there be a Super El Niño this winter (2026–27)?99¢99%
Recent NOAA Climate Prediction Center observations confirm a rapidly intensifying El Niño, with Niño-3.4 sea surface temperature anomalies exceeding +3°C and relative oceanic Niño index values approaching historic thresholds. Multi-model ensembles project a strong-to-very strong event persisting through January–March 2027, with over 83% probability of exceeding prior peaks since 1950 on the three-month RONI scale. This scientific consensus, backed by deepening thermocline heat content and consistent atmospheric anomalies like a strongly negative Southern Oscillation Index, underpins the 97.2% market-implied odds for a Super El Niño this winter. Traders assign near-certainty because current conditions align with the strongest analogs on record. Realistic shifts could still occur if late-season model runs show faster decay or if revised observational data lowers peak anomalies below resolution criteria.
Rules
This market will resolve "Yes" if NOAA's Climate Prediction Center reports a Relative Oceanic Niño Index (RONI) value of +2.0°C or higher for any of the following seasons: ASO 2026, SON 2026, OND 2026, NDJ 2026-27, or DJF 2026-27, as reported in official NOAA CPC RONI updates, https://www.cpc.ncep.noaa.gov/products/analysis_monitoring/enso/roni/. Otherwise, this market will resolve "No". A Super El Niño is an El Niño event in which RONI reaches this threshold for at least one overlapping ENSO season. An ENSO season is one of NOAA's standard overlapping 3-month periods (e.g., ASO, SON, OND, NDJ, DJF). This market may resolve "Yes" immediately upon NOAA's first publication of a qualifying RONI value for any listed season. If no season has qualified, this market will not resolve "No" until NOAA publishes the DJF 2026-27 value since DJF captures El Niño's typical peak-strength window and an earlier "No" could contradict the final published data. The first published RONI value for each listed season is final and governs this market's resolution; no subsequent revision to any season's value will be considered or will change the outcome once that season's first value has been published.