How the Florida Gas Price Contract Settles on a Single AAA Figure

The Florida gas contract in one paragraph

The Florida gas contract is a ladder of separate yes-or-no questions about a single statistic. For each listed date the exchange writes a column of rungs half a cent apart, and every rung asks the same thing in the same words: will AAA's average price for regular gasoline across Florida on that date be strictly greater than this price? Nothing on the ladder is a band to land in, and there is no single winner. Every rung under AAA's figure settles Yes, every rung at or above it settles No, and one posted average decides all of them at once. As an invented example, if AAA's Florida figure for a date came in at $3.512, the rungs at $3.500, $3.505 and $3.510 would each pay, and the rung at $3.515 and everything above it would not.

How it works step by step

1. The subject is always the next date. Kalshi runs the Florida contract as a daily series, KXAAAGASDFL, and each event is named for the day after it trades. A date's ladder opens the day before and stops trading at 11:59 p.m. Eastern that night, which is the last trading time the AAAGAS terms set. One contract therefore lives for a single day of trading ahead of a single morning's number.

2. The ladder can grow while it trades. The terms allow the exchange to change the price levels it lists, and it uses that room. The ladder for November 7, 2026 opened at 8 a.m. Eastern on November 6 and gained a block of ten lower rungs at 1:50 p.m. the same afternoon. A rung added late asks exactly the question an opening rung asks; it has simply been on the board for fewer hours.

3. AAA prints the average to four decimal places. AAA's Florida page gives the statewide regular average to a hundredth of a cent, next to mid-grade, premium and diesel, while the rungs sit on half-cent lines. An exact tie is therefore rare, and the word "strictly" decides it when it happens. In an invented case where the figure posts at $3.5000 and a rung sits at $3.500, that rung settles No; a posted $3.5001 would have settled it Yes.

4. The number is read once, at expiration. The AAAGAS terms take the average "as documented by the Source Agency" at the expiration time and state that revisions AAA makes after expiration are not counted. The listed expiration times are 10:15 a.m., 11 a.m. and 3 p.m. Eastern, but the terms move expiration earlier once the data is out, which is why a date's rungs can settle early in the morning: the November 6, 2026 ladder settled shortly after 7 a.m. Eastern that morning.

5. A missing day still settles. If AAA has no figure for the date at expiration, the terms resolve the contract on the last available day's data. A morning with no new number settles on the previous posted average rather than leaving the ladder hanging.

6. Payment follows within a day. Settlement is due no later than the day after expiration, unless the outcome is placed under review under the exchange's rulebook.

Where Florida readers stand

AAA's average decides a rung; it decides nothing about who may hold one. Access from Florida turns on what regulators, prosecutors and courts have filed and ordered about each exchange, and that record, with a date on every entry, is kept on the legal status page rather than summarized in a how-to. Nothing here is a view on any exchange's standing. This guide is not legal advice and not financial advice.

Common misreadings

The contract asks what drivers pay at the pump. It asks what one AAA statistic reads. A station in Jacksonville or Naples can post well above or below the statewide average, and no single station's price enters the contract; only the regular-grade figure for the whole state does.

The rungs compete with each other, like clubs in a title race. They do not. On a championship field one contract pays and the rest lose; on this ladder every rung under AAA's figure pays together. Say, as an invented example, one rung trades at 90% and the rung a cent above it at 60%: they are not dividing one payout, because the higher rung can only pay if the lower one pays as well.

Mid-grade, premium or diesel can settle it. Only regular counts. AAA posts all four grades on the same Florida page, and the other three play no part in any rung.

A correction later in the morning changes the result. Once the contract has expired on the figure AAA had documented, a later revision is ignored under the terms, whichever direction it moves.

The top-priced rung is the forecast. No single rung is a forecast. Each states a chance for its own price, and the nearest thing to the market's central figure is the point where the ladder crosses an even chance, which the live board marks.

Related guides and markets

The ladder itself, with the settled history beneath it, is on the Florida gas prices page, and the wider money board is at the Florida money hub. The opposite shape, a field where one contract pays and every other loses, is worked through in the guide to how NFC Championship odds work, and a ladder of temperature bands that settles on an instrument rather than a survey is the guide to how Miami temperature contracts settle.

This guide is not legal advice and not financial advice. It explains how a Florida gas contract is written and settled, and it recommends no rung, no side and no exchange.