AURA Economic Policy Uncertainty Index
A real-time measure of U.S. economic policy uncertainty across five policy domains, derived from contract prices on Kalshi and Polymarket. Published daily with intraday indicative values.
AURA-PUI eased 0.8 pts to 92.26 today, capping a week in which the index shed 8 pts. The reading is below historical average. Monetary policy contracts comprise 38% of basket weight, with trade & geopolitical at 31%.
Index composition
| Domain | Weight | Sub-index | 1D Δ | Contracts |
|---|---|---|---|---|
| Monetary Policy | 38.1% | 77.18 | +2.76 | 7 |
| Trade & Geopolitical | 31.4% | 100.23 | −3.11 | 10 |
| Fiscal & Regulatory | 21.3% | 76.54 | +0.25 | 17 |
| Macroeconomic | 8.4% | 58.17 | +0.79 | 1 |
| Sector-Specific | 0.8% | — | — | 0 |
Note: All five economic policy domains are currently active. Weights are post-cap (50% per-domain concentration cap). Sub-indices are computed independently per domain and aggregate into the headline AURA-PUI level.
Composition history
Top constituents
| Ticker | Source | Domain | Weight | Contribution |
|---|---|---|---|---|
| Will There be No Change in Fed Interest ? | Polymarket | Monetary | 20.76% | 13.66 |
| US Iran Final Nuclear Deal by August 31 | Polymarket | Trade & Geo | 16.55% | 10.02 |
| Will the Fed Increase Interest Rates by ? | Polymarket | Monetary | 8.00% | 0.64 |
| Fed Rate Hike in 2026 | Polymarket | Monetary | 4.98% | 3.78 |
| US Iran Final Nuclear Deal by July 31 20 | Polymarket | Trade & Geo | 4.29% | 1.96 |
| Kxretiremm 26 | Kalshi | Fiscal & Reg | 4.28% | 2.68 |
| Kxratecutcount 26dec31 T0 | Kalshi | Monetary | 4.20% | 2.16 |
| US Iran Final Nuclear Deal by December 3 | Polymarket | Trade & Geo | 4.06% | 3.26 |
| Kxtrumpadminleave 26dec31 Pheg | Kalshi | Fiscal & Reg | 3.19% | 1.72 |
| US Iran Final Nuclear Deal by August 18 | Polymarket | Trade & Geo | 3.14% | 1.83 |
| Senatetx 26 R | Kalshi | Fiscal & Reg | 2.88% | 1.30 |
| US Iran Final Nuclear Deal by September | Polymarket | Trade & Geo | 2.70% | 1.49 |
| Will No Fed Rate Cuts Happen in 2026? | Polymarket | Monetary | 2.45% | 1.11 |
| Kxbalancepowercombo 27feb Rr | Kalshi | Fiscal & Reg | 2.38% | 1.04 |
| Senatetx 26 D | Kalshi | Fiscal & Reg | 2.37% | 1.09 |
| Israel X Iran Permanent Peace Deal by Ju | Polymarket | Trade & Geo | 2.26% | 0.96 |
| Controls 2026 R | Kalshi | Fiscal & Reg | 2.23% | 0.88 |
| Kxtrumpvslaughter | Kalshi | Fiscal & Reg | 1.57% | 0.49 |
| Will 3 Fed Rate Cuts Happen in 2026? | Polymarket | Monetary | 1.46% | 0.34 |
| Kxbluewavecombo 27feb | Kalshi | Fiscal & Reg | 1.18% | 0.65 |
| US Iran Final Nuclear Deal by August 13 | Polymarket | Trade & Geo | 1.12% | 0.65 |
| 2026 Balance of Power D Senate D House 9 | Polymarket | Fiscal & Reg | 1.07% | 0.39 |
| 2026 Balance of Power R Senate R House 5 | Polymarket | Fiscal & Reg | 0.87% | 0.25 |
| 2026 Balance of Power R Senate D House 4 | Polymarket | Fiscal & Reg | 0.32% | 0.15 |
| Kxbalancepowercombo 27feb Dd | Kalshi | Fiscal & Reg | 0.27% | 0.10 |
| Kxbalancepowercombo 27feb Dr | Kalshi | Fiscal & Reg | 0.26% | 0.13 |
| Kxtrumpadminleave 26dec31 Kpat | Kalshi | Fiscal & Reg | 0.19% | 0.15 |
| Kxrecssnber 26 | Kalshi | Macro | 0.19% | 0.06 |
| Kxusairanagreement 27 | Kalshi | Trade & Geo | 0.18% | 0.11 |
| Kxusairanagreement 27 26sep | Kalshi | Trade & Geo | 0.15% | 0.07 |
| Controls 2026 D | Kalshi | Fiscal & Reg | 0.13% | 0.05 |
| Kximpeach 28 Jan01 | Kalshi | Fiscal & Reg | 0.13% | 0.07 |
| Kxusairanagreement 27 26aug | Kalshi | Trade & Geo | 0.08% | 0.03 |
| Kximpeach 29 Jan20 | Kalshi | Fiscal & Reg | 0.06% | 0.03 |
| Kxratecutcount 26dec31 T1 | Kalshi | Monetary | 0.06% | 0.03 |
Note: Contribution = weight × uncertainty score × 100, surfacing contracts whose weighted score actually moves the headline.
Live drivers
| Ticker | Source | Domain | Δ Price | Weight | Δ Contribution |
|---|---|---|---|---|---|
| US Iran Final Nuclear Deal by August 31 | Polymarket | Trade & Geo | +0.000 | 16.55% | ↓ −1.12 |
| Fed Rate Hike in 2026 | Polymarket | Monetary | +0.000 | 4.98% | ↑ +0.66 |
| Kxretiremm 26 | Kalshi | Fiscal & Reg | +0.030 | 4.28% | ↑ +0.48 |
| Israel X Iran Permanent Peace Deal by Ju | Polymarket | Trade & Geo | −0.004 | 2.26% | ↑ +0.24 |
| US Iran Final Nuclear Deal by December 3 | Polymarket | Trade & Geo | +0.000 | 4.06% | ↑ +0.23 |
Note: Δ Contribution = (weight × composite score)today − (weight × composite score)prior day, ×100. A positive value (↑) means the contract's weighted score pushed the headline higher today; a negative value (↓) pushed it lower. Newly listed constituents (no prior-day data) are flagged.
Regime occupancy
Today: Elevated, 88% probabilityA 3-state hidden Markov model classifies each day's headline reading into calm, elevated, or crisis. The strip below shows the most-likely state per day, opacity-modulated by the model's confidence; uncertainty mass for the unlabelled states is split evenly in the stacked-area visualization.
Recent observations
| Date | Level | Change | Const. |
|---|---|---|---|
| 2026-06-17 | 98.51 | +3.26 | 37 |
| 2026-06-18 | 93.54 | −4.97 | 39 |
| 2026-06-19 | 98.54 | +5.00 | 37 |
| 2026-06-20 | 97.51 | −1.03 | 36 |
| 2026-06-21 | 100.78 | +3.27 | 33 |
| 2026-06-22 | 103.51 | +2.73 | 32 |
| 2026-06-23 | 104.66 | +1.15 | 32 |
| 2026-06-24 | 100.45 | −4.21 | 31 |
| 2026-06-25 | 94.10 | −6.35 | 30 |
| 2026-06-26 | 91.20 | −2.90 | 30 |
| 2026-06-27 | 87.91 | −3.29 | 28 |
| 2026-06-28 | 99.56 | +11.65 | 33 |
| 2026-06-29 | 95.23 | −4.33 | 35 |
| 2026-06-30 | 93.02 | −2.21 | 36 |
| 2026-07-01 | 92.26 | −0.76 | 35 |
Reconstitution timeline
Most-recent basket entry/exit events with the headline impact at the time. Default view shows the top 20; click below to expand to the latest 100 events. "MAJOR" badges flag events that met at least one of: |1D move| ≥ 10 pts, combined add+remove ≥ 4, or composition change ≥ 150%. Older history (324 events prior to the most-recent 100) is recorded in the methodology archive.
Inputs
AURA-PUI draws on binary and multi-outcome contracts from Kalshi and Polymarket. For each contract, the index uses the current price, recent price dynamics, traded volume, and, where available, the quoted bid-ask spread. Contracts are screened for policy relevance and assigned to one of the five domains.
Construction
For each eligible contract, AURA-PUI computes an uncertainty score. Scores are normalized across the basket and weighted to reflect contract size and quote tightness. Concentration rules cap how much any single domain or any single contract can contribute to the headline.
Revisions
v2.6 (June 10, 2026): Layer-2 conditional-uncertainty normalization changed from median-referenced z-scores to a pooled cross-sectional ECDF, removing score saturation; index scaling re-anchored level-neutrally at the cutover; point-in-time daily volume measurement adopted for Polymarket constituents; daily values finalize at T+1. The eligible contract universe was simultaneously restocked (+104 markets ahead of the 2026 midterms), so prints around the cutover date reflect both the methodology revision and the broader universe. Published values dated before the cutover are locked and unaffected.
Data sources
Aurelian fetches contract prices via public APIs and computes derived series independently. Source venues do not endorse, sponsor, or co-publish this index.
- Informational use only. AURA-PUI is provided for informational and research purposes. It is not investment advice, not a recommendation to trade any contract, and not a benchmark for any financial product.
- Independent publisher. Aurelian is not affiliated with Kalshi, Polymarket, or any contract issuer or exchange. Source venues do not endorse, sponsor, or review this index or its methodology.
- Methodology may evolve. Aurelian reserves the right to refine the index methodology. Material revisions are documented in the methodology paper. Historical levels are not retroactively recomputed under revised methodology.
- Data quality. Prediction-market liquidity varies; periods of low aggregate liquidity may increase index sensitivity to single contracts. The methodology documents the cap and blending rules that mitigate this.
- Past performance. AURA-PUI is a measurement, not a tradable instrument. Historical levels do not indicate future levels of policy uncertainty.
Contact
Questions or data requests: support@aurelianhq.com