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The Early Lead Illusion: When Sports Markets Overreact
Sebastian Scalera Sebastian Scalera

The Early Lead Illusion: When Sports Markets Overreact

When a team scores early, Kalshi’s “Team Wins?” contracts can surge 10–25¢ in seconds.
It feels justified — the team is ahead, right?
But if you track enough games, you’ll see this reaction consistently overshoots the true change in win probability.

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