PANews reposted an analysis of prediction market pricing differences, stating that Kalshi the implied probabilities of Senate contracts differ by 9.7 percentage points

Why it matters to readers

If materially different probabilities do in fact exist across different contracts, traders may focus on pricing discrepancies between the contracts; however, this text does not provide the underlying contract data, so it is impossible to determine whether the discrepancies are genuine or practically tradable.

This may help beginners understand: the probabilities displayed by prediction markets come from contract prices, and different contracts may produce different results; when you see claims about arbitrage, you should first verify the contract rules, prices, and data.