> ## Documentation Index > Fetch the complete documentation index at: https://docs.kalshi.com/llms.txt > Use this file to discover all available pages before exploring further. # Market & Event Lifecycle > Market state changes and event creation notifications. **Requirements:** - No additional channel-level authentication beyond the authenticated WebSocket connection - Receives all market and event lifecycle notifications (`market_ticker` filters are not supported) - Event creation notifications **Use case:** Tracking market lifecycle including creation, de(activation), close date changes, determination, settlement, price level structure changes, and metadata updates ## AsyncAPI ````yaml asyncapi.yaml market_lifecycle_v2 id: market_lifecycle_v2 title: Market & Event Lifecycle description: > Market state changes and event creation notifications. **Requirements:** - No additional channel-level authentication beyond the authenticated WebSocket connection - Receives all market and event lifecycle notifications (`market_ticker` filters are not supported) - Event creation notifications **Use case:** Tracking market lifecycle including creation, de(activation), close date changes, determination, settlement, price level structure changes, and metadata updates servers: - id: production protocol: wss host: external-api-ws.kalshi.com bindings: [] variables: [] address: market_lifecycle_v2 parameters: [] bindings: [] operations: - &ref_3 id: receiveMarketLifecycleV2 title: Market Lifecycle Event description: Receive market lifecycle updates (open, close, determination, etc.) type: send messages: - &ref_6 id: marketLifecycleV2 contentType: application/json payload: - name: Market Lifecycle V2 description: >- Market lifecycle events (created, activated, deactivated, close_date_updated, determined, settled, price_level_structure_updated, metadata_updated) type: object properties: - name: type type: string description: market_lifecycle_v2 required: true - name: sid type: integer description: >- Server-generated subscription identifier (sid) used to identify the channel required: true - name: msg type: object required: true properties: - name: event_type type: string description: > Field to annotate which of the event type this event is for: - `created` - Market created - `activated` - Market activated - `deactivated` - Market deactivated - `close_date_updated` - Market close date updated - `determined` - Market determined - `settled` - Market settled - `price_level_structure_updated` - Market price level structure changed - `metadata_updated` - Market metadata updated (e.g. floor strike, yes_sub_title) enumValues: - created - deactivated - activated - close_date_updated - determined - settled - price_level_structure_updated - metadata_updated required: true - name: market_ticker type: string description: Unique market identifier examples: &ref_0 - FED-23DEC-T3.00 - HIGHNY-22DEC23-B53.5 required: true - name: open_ts type: integer description: >- Optional - This key will ONLY exist when the market is created. Unix timestamp for when the market opened (in seconds) required: false - name: close_ts type: integer description: >- Optional - This key will ONLY exist when the market is created OR when the close date is updated. Unix timestamp for when the market is scheduled to close (in seconds). Will be updated in case of early determination markets required: false - name: result type: string description: >- Optional - This key will ONLY exist when the market is determined. Result of the market required: false - name: determination_ts type: integer description: >- Optional - This key will ONLY exist when the market is determined. Unix timestamp for when the market is determined (in seconds) required: false - name: settlement_value type: string description: >- Optional - This key will ONLY exist when the market is determined. Settlement value of the market in fixed-point dollars (e.g. "0.5000") required: false - name: settled_ts type: integer description: >- Optional - This key will ONLY exist when the market is settled. Unix timestamp for when the market is settled (in seconds) required: false - name: is_deactivated type: boolean description: >- Optional - This key will ONLY exist when the market is paused/unpaused. Boolean flag to indicate if trading is paused on an open market. This should only be interpreted for an open market required: false - name: price_level_structure type: string description: >- Optional - This key will exist when the market is created or when the price level structure is updated. The price level structure of the market enumValues: - linear_cent - deci_cent - tapered_deci_cent - center_whole_edge_half_cent - center_whole_edge_quint_cent - center_half_edge_half_cent - center_half_edge_quint_cent - center_half_edge_deci_cent - center_quint_edge_quint_cent - center_quint_edge_deci_cent required: false - name: price_ranges type: array description: >- Optional - Emitted alongside price_level_structure (on market creation and price_level_structure_updated events). The valid price bands for the market, in fixed-point dollars. Use this to determine valid order prices rather than hardcoding a tick size. required: false properties: - name: start type: string description: Starting price for this band, in dollars required: true - name: end type: string description: Ending price for this band, in dollars required: true - name: step type: string description: >- Tick size (minimum price increment) within this band, in dollars required: true - name: strike_type type: string description: >- Optional - This key will ONLY exist for metadata_updated events. Determines how floor_strike / cap_strike are interpreted (e.g. "between" uses both, "greater" uses floor_strike only, "less" uses cap_strike only) required: false - name: floor_strike type: number description: >- Optional - This key will ONLY exist for metadata_updated events. The floor (lower bound) strike value for the market required: false - name: cap_strike type: number description: >- Optional - This key will ONLY exist for metadata_updated events. The cap (upper bound) strike value for the market required: false - name: custom_strike type: object description: >- Optional - This key will ONLY exist for metadata_updated events with a custom or structured strike type required: false - name: yes_sub_title type: string description: >- Optional - This key will ONLY exist for metadata_updated events. The updated yes subtitle for the market required: false - name: additional_metadata type: object description: >- Optional - This key will be emitted when the market is created required: false properties: - name: name type: string required: false - name: title type: string required: false - name: yes_sub_title type: string required: false - name: no_sub_title type: string required: false - name: rules_primary type: string required: false - name: rules_secondary type: string required: false - name: can_close_early type: boolean required: false - name: event_ticker type: string required: false - name: expected_expiration_ts type: integer required: false - name: strike_type type: string required: false - name: floor_strike type: number required: false - name: cap_strike type: number required: false - name: custom_strike type: object required: false headers: [] jsonPayloadSchema: type: object required: - type - sid - msg properties: type: type: string const: market_lifecycle_v2 x-parser-schema-id: sid: &ref_1 type: integer description: >- Server-generated subscription identifier (sid) used to identify the channel minimum: 1 x-parser-schema-id: subscriptionId msg: type: object required: - event_type - market_ticker properties: event_type: type: string description: > Field to annotate which of the event type this event is for: - `created` - Market created - `activated` - Market activated - `deactivated` - Market deactivated - `close_date_updated` - Market close date updated - `determined` - Market determined - `settled` - Market settled - `price_level_structure_updated` - Market price level structure changed - `metadata_updated` - Market metadata updated (e.g. floor strike, yes_sub_title) enum: - created - deactivated - activated - close_date_updated - determined - settled - price_level_structure_updated - metadata_updated x-parser-schema-id: market_ticker: type: string description: Unique market identifier pattern: ^[A-Z0-9-]+$ examples: *ref_0 x-parser-schema-id: marketTicker open_ts: type: integer description: >- Optional - This key will ONLY exist when the market is created. Unix timestamp for when the market opened (in seconds) format: int64 x-parser-schema-id: close_ts: type: integer description: >- Optional - This key will ONLY exist when the market is created OR when the close date is updated. Unix timestamp for when the market is scheduled to close (in seconds). Will be updated in case of early determination markets format: int64 x-parser-schema-id: result: type: string description: >- Optional - This key will ONLY exist when the market is determined. Result of the market x-parser-schema-id: determination_ts: type: integer description: >- Optional - This key will ONLY exist when the market is determined. Unix timestamp for when the market is determined (in seconds) format: int64 x-parser-schema-id: settlement_value: type: string description: >- Optional - This key will ONLY exist when the market is determined. Settlement value of the market in fixed-point dollars (e.g. "0.5000") x-parser-schema-id: settled_ts: type: integer description: >- Optional - This key will ONLY exist when the market is settled. Unix timestamp for when the market is settled (in seconds) format: int64 x-parser-schema-id: is_deactivated: type: boolean description: >- Optional - This key will ONLY exist when the market is paused/unpaused. Boolean flag to indicate if trading is paused on an open market. This should only be interpreted for an open market x-parser-schema-id: price_level_structure: type: string description: >- Optional - This key will exist when the market is created or when the price level structure is updated. The price level structure of the market enum: - linear_cent - deci_cent - tapered_deci_cent - center_whole_edge_half_cent - center_whole_edge_quint_cent - center_half_edge_half_cent - center_half_edge_quint_cent - center_half_edge_deci_cent - center_quint_edge_quint_cent - center_quint_edge_deci_cent x-parser-schema-id: price_ranges: type: array description: >- Optional - Emitted alongside price_level_structure (on market creation and price_level_structure_updated events). The valid price bands for the market, in fixed-point dollars. Use this to determine valid order prices rather than hardcoding a tick size. items: type: object required: - start - end - step properties: start: type: string description: Starting price for this band, in dollars x-parser-schema-id: end: type: string description: Ending price for this band, in dollars x-parser-schema-id: step: type: string description: >- Tick size (minimum price increment) within this band, in dollars x-parser-schema-id: x-parser-schema-id: x-parser-schema-id: strike_type: type: string description: >- Optional - This key will ONLY exist for metadata_updated events. Determines how floor_strike / cap_strike are interpreted (e.g. "between" uses both, "greater" uses floor_strike only, "less" uses cap_strike only) x-parser-schema-id: floor_strike: type: number description: >- Optional - This key will ONLY exist for metadata_updated events. The floor (lower bound) strike value for the market x-parser-schema-id: cap_strike: type: number description: >- Optional - This key will ONLY exist for metadata_updated events. The cap (upper bound) strike value for the market x-parser-schema-id: custom_strike: type: object description: >- Optional - This key will ONLY exist for metadata_updated events with a custom or structured strike type x-parser-schema-id: yes_sub_title: type: string description: >- Optional - This key will ONLY exist for metadata_updated events. The updated yes subtitle for the market x-parser-schema-id: additional_metadata: type: object description: >- Optional - This key will be emitted when the market is created properties: name: type: string x-parser-schema-id: title: type: string x-parser-schema-id: yes_sub_title: type: string x-parser-schema-id: no_sub_title: type: string x-parser-schema-id: rules_primary: type: string x-parser-schema-id: rules_secondary: type: string x-parser-schema-id: can_close_early: type: boolean x-parser-schema-id: event_ticker: type: string x-parser-schema-id: expected_expiration_ts: type: integer format: int64 x-parser-schema-id: strike_type: type: string x-parser-schema-id: floor_strike: type: number x-parser-schema-id: cap_strike: type: number x-parser-schema-id: custom_strike: type: object x-parser-schema-id: x-parser-schema-id: x-parser-schema-id: x-parser-schema-id: marketLifecycleV2Payload title: Market Lifecycle V2 description: >- Market lifecycle events (created, activated, deactivated, close_date_updated, determined, settled, price_level_structure_updated, metadata_updated) example: |- { "type": "market_lifecycle_v2", "sid": 13, "msg": { "market_ticker": "INXD-23SEP14-B4487", "event_type": "created", "open_ts": 1694635200, "close_ts": 1694721600, "price_level_structure": "linear_cent", "additional_metadata": { "name": "S&P 500 daily return on Sep 14", "title": "S&P 500 closes up by 0.02% or more", "yes_sub_title": "S&P 500 closes up 0.02%+", "no_sub_title": "S&P 500 closes up <0.02%", "rules_primary": "The S&P 500 index level at 4:00 PM ET...", "rules_secondary": "", "can_close_early": true, "event_ticker": "INXD-23SEP14", "expected_expiration_ts": 1694721600, "strike_type": "greater", "floor_strike": 4487 } } } bindings: [] extensions: - id: x-parser-unique-object-id value: marketLifecycleV2 bindings: [] extensions: &ref_2 - id: x-parser-unique-object-id value: market_lifecycle_v2 - &ref_4 id: receiveEventLifecycle title: Event Lifecycle description: Receive event creation notifications type: send messages: - &ref_7 id: eventLifecycle contentType: application/json payload: - name: Event Lifecycle description: Event creation notification type: object properties: - name: type type: string description: event_lifecycle required: true - name: sid type: integer description: >- Server-generated subscription identifier (sid) used to identify the channel required: true - name: msg type: object required: true properties: - name: event_ticker type: string description: Unique identifier for the event being created required: true - name: title type: string description: Title of event required: true - name: subtitle type: string description: Subtitle of event required: true - name: collateral_return_type type: string description: >- Collateral return type, MECNET or DIRECNET of the event. Empty if there is no collateral return scheme for the event enumValues: - MECNET - DIRECNET - '' required: true - name: series_ticker type: string description: Series ticker for the event required: true - name: strike_date type: integer description: >- Optional - Unix timestamp to indicate the strike date of the event if there is one required: false - name: strike_period type: string description: >- Optional - String to indicate the strike period of the event if there is one required: false headers: [] jsonPayloadSchema: type: object required: - type - sid - msg properties: type: type: string const: event_lifecycle x-parser-schema-id: sid: *ref_1 msg: type: object required: - event_ticker - title - subtitle - collateral_return_type - series_ticker properties: event_ticker: type: string description: Unique identifier for the event being created x-parser-schema-id: title: type: string description: Title of event x-parser-schema-id: subtitle: type: string description: Subtitle of event x-parser-schema-id: collateral_return_type: type: string description: >- Collateral return type, MECNET or DIRECNET of the event. Empty if there is no collateral return scheme for the event enum: - MECNET - DIRECNET - '' x-parser-schema-id: series_ticker: type: string description: Series ticker for the event x-parser-schema-id: strike_date: type: integer description: >- Optional - Unix timestamp to indicate the strike date of the event if there is one format: int64 x-parser-schema-id: strike_period: type: string description: >- Optional - String to indicate the strike period of the event if there is one x-parser-schema-id: x-parser-schema-id: x-parser-schema-id: eventLifecyclePayload title: Event Lifecycle description: Event creation notification example: |- { "type": "event_lifecycle", "sid": 5, "msg": { "event_ticker": "KXQUICKSETTLE-26JAN25H2150", "title": "What will 1+1 equal on Jan 25 at 21:50?", "subtitle": "Jan 25 at 21:50", "collateral_return_type": "MECNET", "series_ticker": "KXQUICKSETTLE" } } bindings: [] extensions: - id: x-parser-unique-object-id value: eventLifecycle bindings: [] extensions: *ref_2 - &ref_5 id: receiveEventFeeUpdate title: Event Fee Override Update description: Receive notifications when an event-level fee override is set or cleared type: send messages: - &ref_8 id: eventFeeUpdate contentType: application/json payload: - name: Event Fee Override Update description: Emitted when an event-level fee override is set or cleared type: object properties: - name: type type: string description: event_fee_update required: true - name: sid type: integer description: >- Server-generated subscription identifier (sid) used to identify the channel required: true - name: msg type: object required: true properties: - name: event_ticker type: string description: Unique identifier for the event required: true - name: fee_type_override type: string description: >- Event fee type override. `null` when the override has been cleared. enumValues: - quadratic - quadratic_with_maker_fees - flat required: true - name: fee_multiplier_override type: number description: >- Event fee multiplier override. `null` when the override has been cleared. required: true headers: [] jsonPayloadSchema: type: object required: - type - sid - msg properties: type: type: string const: event_fee_update x-parser-schema-id: sid: *ref_1 msg: type: object required: - event_ticker - fee_type_override - fee_multiplier_override properties: event_ticker: type: string description: Unique identifier for the event x-parser-schema-id: fee_type_override: type: string nullable: true enum: - quadratic - quadratic_with_maker_fees - flat - null description: >- Event fee type override. `null` when the override has been cleared. x-parser-schema-id: fee_multiplier_override: type: number nullable: true description: >- Event fee multiplier override. `null` when the override has been cleared. x-parser-schema-id: x-parser-schema-id: x-parser-schema-id: eventFeeUpdatePayload title: Event Fee Override Update description: Emitted when an event-level fee override is set or cleared example: |- { "type": "event_fee_update", "sid": 5, "msg": { "event_ticker": "KXBTCD-26MAY2018", "fee_type_override": "quadratic", "fee_multiplier_override": 1 } } bindings: [] extensions: - id: x-parser-unique-object-id value: eventFeeUpdate bindings: [] extensions: *ref_2 sendOperations: [] receiveOperations: - *ref_3 - *ref_4 - *ref_5 sendMessages: [] receiveMessages: - *ref_6 - *ref_7 - *ref_8 extensions: - id: x-parser-unique-object-id value: market_lifecycle_v2 securitySchemes: - id: apiKey name: apiKey type: apiKey description: | API key authentication required for WebSocket connections. The API key should be provided during the WebSocket handshake. in: user extensions: [] ````