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Will the highest-magnitude earthquake in 2026 be 7.9 or below?
78%
Agent
61%
Market Price
+17.5%
Edge
72%
Confidence
20,521
Volume
30.0c
Spread
82
Days to resolution
7
Markets in event
final rationale
Mean of 2 draws (0.78, 0.79) after one crux research pass. (0) Not yet resolved. A USGS ComCat query on 2026-10-16 shows the 2026 maximum is M7.8 (Mindanao, June 7, and Flores, Aug 14; both reviewed, mww). No 2026 event is M8.0+. The Panama quake is final at M7.7 after an initial 8.0 estimate was revised down. Yes therefore holds unless a new M≥8.0 occurs. (a) About 76 days remain to Dec 31 ET, roughly 0.21 of a year. (b) Status quo is Yes. (c) NO needs a new great earthquake, such as a subduction megathrust somewhere in the Pacific Rim, with a USGS preferred magnitude of 8.0+ before year-end. (d) YES needs only that no such event occurs. That is the default outcome, since no M7+ event has occurred since Oct 9. On rates: the 1999–2025 record averages about 1.15 M8+ per year, and recent years run lower (about 0.6–0.84 per year). A Poisson model over 0.21 years gives roughly 15–22% for at least one M8+. The Panama aftershock forecast adds about 1%. The Polymarket anchor of 61% sits on a very wide 46/76 spread with thin volume. Its 18-point drop this week most likely reflects the transient Panama 8.0 headline, which USGS has since revised to 7.7, so I move above the market toward the base rate. The sibling bracket markets are similarly illiquid. The related 8.0+-by-Oct-31 market at 6.3% for about 15 days is consistent with a rate near 1–1.5 per year.
price vs. prediction
market price
agent forecast at t+0
2 follow-ups
re-scan context
This market has been scanned before. Previous predictions:
| date | predicted | market price | confidence |
|---|---|---|---|
| 2026-10-09 | 81% | 80% | 66% |
1. Planner Opus 5.5 · picks the research tools
Tools chosen:
polymarket_direct
resolution_source
wikipedia
polymarket_related
kalshi_related
Planner reasoning
The question is whether no M8.0+ earthquake happens between now (Oct 16) and Dec 31, 2026, since the max so far is 7.8. The base rate is about one M8+ per year, so roughly 20% over 2.5 months. The Polymarket price is the anchor, and the USGS catalog confirms the current maximum. Wikipedia lists of earthquakes give the reference class, and related markets add a cross-venue check.
2. Research parallel tool calls + 4 web research loops (Sonnet 5.5) · read raw by the forecasters
at a glance
RESEARCH DIGEST (built in code: tool summaries and each report's bottom line; the forecasters read the full tool outputs and reports)
Tools
- polymarket_direct: ## This Market's Polymarket Data **Will the highest-magnitude earthquake in 2026 be 7.9 or below?** - Current price (probability): 61.00% (live; bid 46% / ask 76%) - 7-day price change: -18.00% - 30-day price change: -13.50% - Total volume: $20,521 (USD notional) - Price range: 61.00% - 79.00% - Data points: 59 days
- resolution_source: already_resolved=unclear; matches_criteria=True; last_updated=2026-10-16 (feed metadata generated timestamp 1792189149000). The USGS ComCat API query for 2026 events of M7.5 or larger returns 5 events. The largest are two M7.8 quakes (mww): one 25 km SW of Kablalan, Philippines (us7000srb1) and one 66 km NNW of Ende, Indonesia (us6000tkt2). The others are an M7.7 in Panama, an M7.5 in Venezuela an
- wikipedia: Fetched 3 Wikipedia entries (0 missing pages).
- polymarket_related: Polymarket search over 2 keyword(s), kept 10 matches. keyword 'earthquake magnitude 2026': 5 markets | keyword 'earthquake 8.0': 5 markets
- kalshi_related: 1 related markets / summaries. keyword 'earthquake': ok
Research loops, bottom lines
- current state: As of 2026-10-16, the USGS maximum for 2026 is M7.8, tied between Mindanao and Flores, with no M8+ event so far. The "7.9 or below" outcome fails only if a new M≥8.0 quake occurs in the remaining ~11 weeks, or if USGS revises an existing event up (unlikely, because the 7.8 events are reviewed).
- base rate: The year's maximum so far is 7.8, and no M8+ has occurred. With about 10 weeks left and a long-run rate near 1 M8+ per year, the base rate for "7.9 or below" resolving Yes is roughly 78–84%. Only a new M8.0+ quake before Dec 31 would flip it.
- yes case: With no M≥7 event since Oct 9 and only about 11 weeks left, the YES path is simply that no new M≥8.0 quake occurs by Dec 31 ET. The expected count of M8+ events in that window is roughly 0.12–0.25, and the Panama aftershock risk is about 1–2%.
- no case: The only route to NO is a new M≥8.0 event in the remaining 76 days. USGS's own 2000–2021 rate of about 1.23 M8+ a year implies roughly 20–25% for that. Panama's aftershock forecast (about 1% for an M8+ within a month) adds only slightly.
Crux follow-up
- The facts are clear. As of Oct 16 the 2026 USGS maximum is M7.8, and Yes holds unless a new M≥8.0 occurs in the remaining ~11 weeks. The long-run M8+ rate of about 1.15 per year gives a modest chance of that. The Panama event's initial 8.0 estimate was revised down and is final at 7.7, which favours the higher-Yes forecasters over the low market price.
tools
| tool | status | time | items | summary |
|---|---|---|---|---|
| polymarket_direct | OK | 0.4s | 1 | ## This Market's Polymarket Data **Will the highest-magnitude earthquake in 2026 be 7.9 or below?** - Current price (probability): 61.00% (live; bid 46% / ask 76%) - 7-day price change: -18.00% - 30-day price change: -13.50% - Total volume: $20,521 (USD notional) - Price range: 61.00% - 79.00% - Da |
| resolution_source | OK | 14.4s | 1 | already_resolved=unclear; matches_criteria=True; last_updated=2026-10-16 (feed metadata generated timestamp 1792189149000). The USGS ComCat API query for 2026 events of M7.5 or larger returns 5 events. The largest are two M7.8 quakes (mww): one 25 km SW of Kablalan, Philippines (us7000srb1) and one |
| wikipedia | OK | 0.3s | 3 | Fetched 3 Wikipedia entries (0 missing pages). |
| polymarket_related | OK | 0.4s | 10 | Polymarket search over 2 keyword(s), kept 10 matches. keyword 'earthquake magnitude 2026': 5 markets | keyword 'earthquake 8.0': 5 markets |
| kalshi_related | OK | 0.8s | 1 | 1 related markets / summaries. keyword 'earthquake': ok |
research loops
·
4/4 ok ·
16 searches ·
1 page reads
| dimension | status | time | searches | page reads | report |
|---|---|---|---|---|---|
| current state | OK | 18s | 4 | 1 | 3190 chars |
| base rate | OK | 23s | 4 | 0 | 3870 chars |
| yes case | OK | 19s | 4 | 0 | 4364 chars |
| no case | OK | 27s | 4 | 0 | 4427 chars |
report: current state
- [2026-10-16] The USGS ComCat API (queried today) shows the two largest 2026 events as M7.8 (mww), both reviewed. They are 66 km NNW of Ende, Indonesia (Flores, 2026-08-14 UTC) and 25 km SW of Kablalan, Philippines (Mindanao, 2026-06-07 UTC). No event is M8.0 or higher so far. https://earthquake.usgs.gov/fdsnws/event/1/query?format=geojson&starttime=2026-01-01&minmagnitude=7&orderby=magnitude&limit=10
- [2026-10-09] An M7.7 (mww) quake hit Panama (Azuero–Sona fault). USGS first reported it as about 8.0, then revised it to 7.6 and then 7.7. Its status is "reviewed". The strongest aftershock was M6.6. This is the most recent M7+ event, and it is the third-largest of the year. https://abc7news.com/story/panama-earthquake-76-shakes-region/19925359/
- [2026-10-16] An M6.9 quake struck off Kamchatka at 03:35 UTC, at about 135 km depth. There was no tsunami threat. Japan's alert system briefly and wrongly broadcast a "9.9" alert. This is not a threat to the 7.8 maximum. https://watchers.news/2026/10/16/strong-m6-9-earthquake-hits-kamchatka-peninsula-russia/
- [2026-10-12] Two M6.7–6.8 shocks hit the central Mid-Atlantic Ridge in October, according to the USGS ComCat query for M6.5 and above since 2026-10-01. https://earthquake.usgs.gov/fdsnws/event/1/query?format=geojson&starttime=2026-10-01&minmagnitude=6.5&orderby=time
- [2026-08-14] The Flores M7.8 (Mww) event is the later of the two 7.8s. GCMT also gives Mw 7.8. https://en.wikipedia.org/wiki/2026_Flores_earthquake
- [2026-06-07] The Mindanao M7.8 (Mww) event is also listed by PHIVOLCS as Mw 7.8. https://www.phivolcs.dost.gov.ph/primer-on-the-08-june-2026-magnitude-mw-7-8-offshore-sarangani-earthquake/
- [2026-06-24] The Venezuela doublet was USGS M7.5 and M7.2. Other agencies (INGV, GEOSCOPE) gave 7.6–7.8, but USGS governs. https://en.wikipedia.org/wiki/2026_Venezuela_earthquakes
- [2026-10-16] Wikipedia's 2026 tally shows 0 events of M8.0 or more and about 11–12 events of M7.0–7.9. By comparison, 2025 had one M8+ (M8.8 Kamchatka). https://en.wikipedia.org/wiki/List_of_earthquakes_in_2026
- [2026-08-17] Al Jazeera's list of the 10 largest quakes of 2026 puts the 7.8 off Mindanao as the strongest at that date. https://www.aljazeera.com/news/2026/8/17/is-the-world-experiencing-more-earthquakes-now-than-before
- [2026-10-16] About 11 weeks remain in 2026, to 2026-12-31 ET. The resolution rules say the USGS preferred magnitude at the end of the period governs, and later revisions do not reopen the market. No scheduled event matters here, since earthquakes are unscheduled. Only a new M≥8.0 quake before year-end would push the outcome to No. https://earthquake.usgs.gov/earthquakes/search/
BOTTOM LINE: As of 2026-10-16, the USGS maximum for 2026 is M7.8, tied between Mindanao and Flores, with no M8+ event so far. The "7.9 or below" outcome fails only if a new M≥8.0 quake occurs in the remaining ~11 weeks, or if USGS revises an existing event up (unlikely, because the 7.8 events are reviewed).
NOT FOUND: Any USGS revision of the 7.8 events to 7.9 or above. Any M≥7.5 event after 2026-10-09 (the latest in the USGS query was M6.9 on 2026-10-16). Any forecast of a specific upcoming large quake.
report: base rate
- [2026-10-16] The 2026 Wikipedia list (USGS magnitudes) shows no M8+ event so far in 2026. The strongest are two M7.8 quakes: Mindanao on June 7 and Flores, Indonesia on August 14. Panama's M7.7 on October 9 is third. The list's navbox gives Flores as 7.7, a minor inconsistency. A fetched list page and a search snippet both show the top two at M7.8. Both are below the 8.0 threshold. https://en.wikipedia.org/wiki/List_of_earthquakes_in_2026
- [2026-10-16] 2026 has 12 M7.0–7.9 quakes and zero M8+. The list is a secondary source built on USGS data. I did not check the USGS catalogue directly. https://en.wikipedia.org/wiki/List_of_earthquakes_in_2026
- [2026-10-09] A USGS Mww 7.7 quake hit Panama on October 9. The Wikipedia article gives USGS Mww 7.7 at 12.6 km depth, with the largest aftershock M6.6. It is the third-largest of 2026 and below 8.0. https://en.wikipedia.org/wiki/2026_Panama_earthquake
- [2026-06-08] The Mindanao M7.8 (June 7 UTC) is the year's joint-largest. USGS and EMSC put it at Mww 7.8. This matches the market's "7.8 already recorded". https://en.wikipedia.org/wiki/2026_Mindanao_earthquake
- [2026-02-05] USGS long-term base rate (since about 1900): about 15 quakes in the M7 range and one M8.0+ in a typical year. The USGS page was updated 2026-02-05. https://www.usgs.gov/faqs/why-are-we-having-so-many-or-so-few-earthquakes-has-naturally-occurring-earthquake-activity
- [2026-10-16] Annual counts of M8.0+ for 1999–2025, from the Wikipedia table, sum to about 32 events in 27 years, roughly 1.2 per year. Seven years had none: 1999, 2002, 2016, 2020, 2022, 2023 and 2024. Years with 2 or more were 2004, 2006, 2007, 2012, 2013 and 2021. 2025 had one (M8.8 Kamchatka). The table counts events, not years with at least one, so the "years with none" figure is my own tally. https://en.wikipedia.org/wiki/List_of_earthquakes_in_2026
- [2026-10-16] Rough outside-view arithmetic (mine, not a source figure): about 76 days remain, October 16 to December 31. At roughly 0.85–1.2 M8+ events per year, a Poisson model gives an expected 0.18–0.25 events. That is about 16–22% chance of at least one M8+ before year-end. Clustering and aftershock risk may shift this slightly. VolcanoDiscovery's 26-year average is 0.84 per year for M8+. https://www.volcanodiscovery.com/earthquakes/statistics.html
- [2026-10-09] Aftershock and triggering risk: the Panama M7.7 is the only recent large event with active aftershocks. Its largest aftershock so far is M6.6. A M7.7 mainshock occasionally precedes a larger quake, but I found no source indicating this is likely here. https://en.wikipedia.org/wiki/2026_Panama_earthquake
- [2026-08-17] Al Jazeera notes the 2026 run of M7+ quakes: Philippines, Venezuela, Mexico, Colombia, Indonesia. Per the USGS FAQ and IRIS, the number of large quakes is not rising and temporary clusters are normal. The 2026 M7+ count of 12 is below the long-term average of about 15–16. https://www.aljazeera.com/news/2026/8/17/is-the-world-experiencing-more-earthquakes-now-than-before
- [2026-10-16] Resolution mechanics: the market uses the USGS preferred magnitude. An M7.9 or lower counts as Yes, and a late revision does not reopen the market. A quake would need USGS preferred magnitude of 8.0 or higher between now and Dec 31 ET (extension to Jan 7) to make this No. No existing expert forecast or odds for the full-year maximum were found beyond the base rate.
BOTTOM LINE: The year's maximum so far is 7.8, and no M8+ has occurred. With about 10 weeks left and a long-run rate near 1 M8+ per year, the base rate for "7.9 or below" resolving Yes is roughly 78–84%. Only a new M8.0+ quake before Dec 31 would flip it.
NOT FOUND: A direct USGS catalogue query (the USGS search page is JavaScript-based), any independent expert forecast of the 2026 maximum, and sibling-strike market prices (deliberately not sought).
report: yes case
YES means: the largest 2026 earthquake by USGS preferred magnitude is below 8.0 (7.9 or lower). This is the case if no M≥8.0 event occurs by 2026-12-31 ET.
- [2026-10-16] A USGS ComCat count query for M≥7.0 events from 2026-10-10 onward returned 0. No M7+ event has followed the Panama M7.7 of Oct 9. The Kamchatka M6.9 on Oct 16 is below that cut-off. The year's maximum is still 7.8. https://earthquake.usgs.gov/fdsnws/event/1/count?starttime=2026-10-10&minmagnitude=7
- [2026-10-12] The USGS aftershock forecast for the Panama M7.7 gives M8+ odds of about 1 in 800 within one day, 1 in 300 within a week, 1 in 100 within a month, and 2% within a year. M7+ odds are 17% within a year. The sequence is therefore a small risk to the YES side. Over the remaining ~11 weeks, the M8+ aftershock contribution is likely about 1–2%. The forecast page itself is JavaScript-only, so these figures come from a search snippet of the USGS page. https://earthquake.usgs.gov/earthquakes/eventpage/us6000u18k/oaf/forecast
- [2026-10-12] A report on the USGS forecast says the chance of an event larger than 7.7 was below 1% for the week after Oct 11. The mainshock was a strike-slip event at 12.6 km depth. Strike-slip faults rarely produce M8+ events, which limits further growth from this sequence. https://www.natureworldnews.com/articles/73510/20261012/panama-earthquake-state-emergency-aftershocks.htm
- [2026-10-13] The USGS slip model for the Panama quake shows peak slip of about 8 m and a rupture speed of about 1.9 km/s. This is a finished, reviewed rupture, so a later USGS upgrade to 8.0 is not plausible. The initial 8.0 USGS estimate was already revised down to 7.7. https://www.natureworldnews.com/articles/73523/20261013/how-seismically-quiet-corner-panama-produced-magnitude-77-strike-slip-earthquake-that-damaged.htm
- [2026-10-16] Wikipedia's table of annual counts for 1999–2026 shows 0 events of M8+ in 7 of the 27 completed years (1999, 2002, 2016, 2020, 2022, 2023, 2024). In 2016 the year's maximum was 7.9 (Papua New Guinea), and in 2016 the count of M7.0–7.9 events was 16. A year with a high M7 count and no M8+ has precedent. https://en.wikipedia.org/wiki/List_of_earthquakes_in_2026
- [2026-10-16] Elapsed-time mechanics: about 79% of 2026 (Jan 1 to Oct 16) has passed with no M8+. Since 2000, M8+ years have usually been single events. VolcanoDiscovery's statistics show only 1 M8+ in the past 3 years and 6 in the past 10 years, a rate of about 0.6 per year. That is lower than the 0.84 long-run figure. At 0.6–0.84 per year over ~0.20 of a year, the expected count is roughly 0.12–0.17. https://www.volcanodiscovery.com/earthquakes/statistics.html
- [2026-02-05] The USGS FAQ gives about one M8+ per year and 15 M7.x per year. The Wikipedia 2026 table's 12 M7.0–7.9 so far means the M7 count is on a normal pace. The year has no sign of a rate boost. https://www.usgs.gov/faqs/why-are-we-having-so-many-or-so-few-earthquakes-has-naturally-occurring-earthquake-activity
- [2026-10-16] A plainquake summary of ComCat shows 95 M6+ events so far in 2026 and a strongest of M7.8. A Wikipedia count lists 94 events at M6.0–6.9, so the two sources agree on the year's maximum being 7.8. https://plainquake.com/year/2026
- [2026-10-16] The Oct 16 Kamchatka event was USGS M6.9 at about 135–150 km depth, an intermediate-depth event. Pacific tsunami warning centres reported M7.0 but no tsunami threat. The USGS value of 6.9 sets no new threat to the leader. https://www.staradvertiser.com/2026/10/15/breaking-news/no-tsunami-threat-to-hawaii-after-large-quake-hits-russia/
- [2026-04-20] The two other large 2026 events (Sanriku Mw 7.4 and North Maluku Mww 7.4) are well below 8.0. They show the large-event rate for the year is spread across many sources rather than building toward a single great event. https://en.wikipedia.org/wiki/2026_Sanriku_earthquake
BOTTOM LINE: With no M≥7 event since Oct 9 and only about 11 weeks left, the YES path is simply that no new M≥8.0 quake occurs by Dec 31 ET. The expected count of M8+ events in that window is roughly 0.12–0.25, and the Panama aftershock risk is about 1–2%.
NOT FOUND: A live USGS rendering of the Panama aftershock forecast page (JavaScript only; figures taken from a search snippet). Any expert forecast of a specific M8+ event before year-end. Any USGS revision of the 7.8 events.
report: no case
YES means: the USGS preferred magnitude of the largest 2026 earthquake is below 8.0 (7.9 or lower), which is the case today with the 7.8 maximum. The NO case argued below needs a new M≥8.0 quake between now and 2026-12-31 11:59 PM ET.
- [2026-10-16] The USGS annual table (2000–2021) counts 27 M8.0+ quakes in 22 years, about 1.23 a year, which is higher than the 0.84 a year colleagues cited from VolcanoDiscovery. Using USGS's own count, the 76 days left give an expected 0.26 M8+ events, about 23% under a Poisson model, so a NO outcome is not remote. The years 1994–95 (2 each) and 2004–2007 (2, 1, 2, 4) show multi-event years are common. The 22-year window is short, so treat the rate as noisy. https://www.usgs.gov/programs/earthquake-hazards/lists-maps-and-statistics
- [2026-10-16] Only 4 of the 22 years from 2000 to 2021 had no M8+ quake (2002, 2008, 2016, 2020), so 18 of 22 years had at least one. A year with none is a minority outcome. 2026 is already one of the no-M8 years as of mid-October, and years can still change late. The Wikipedia table shows 2022–2024 with none. https://www.usgs.gov/programs/earthquake-hazards/lists-maps-and-statistics
- [2026-10-13] USGS's operational aftershock forecast for the Oct 9 Panama M7.7 gives a 1-in-100 chance of an M8+ aftershock within a month and about 2% within a year. It also gives a 17% chance of an M7+ aftershock within a year. The 1-in-300 weekly figure applies to the first week. This is a small added risk on top of the background rate, not a large one. https://earthquake.usgs.gov/earthquakes/eventpage/us6000u18k/oaf/forecast (figures via search snippet; the page itself did not render)
- [2026-10-13] The Panama quake is strike-slip on the Panama microplate boundary, and USGS status is reviewed at 7.7 mww. USGS's first estimate was 8.0, later cut to 7.7. That early 8.0 is a cautionary example: the "preferred" magnitude can move in the first hours. The reverse is possible too, since early values for a future event can be revised up. Only the end-of-period preferred value counts, and the 7.7 is final-looking. https://earthquakeinsights.substack.com/p/update-on-the-m77-earthquake-in-panama
- [2026-10-16] The USGS ComCat query (M≥6, since Oct 9) returned 9 events, all reviewed. The largest were Panama M7.7, Kamchatka M6.9 (mww, 135 km deep), and two Mid-Atlantic Ridge M6.7–6.8 shocks. None is near 8.0. The Panama sequence also had M6.6, 6.1 and 6.0 shocks, so it is still active. The M6.9 Kamchatka quake is about 1.1 magnitude units below the 8.0 threshold. https://earthquake.usgs.gov/fdsnws/event/1/query?format=geojson&starttime=2026-10-09&minmagnitude=6&orderby=time
- [2026-10-16] The Kamchatka region produced the M8.8 on 2025-07-30. The Oct 16 M6.9 is deep (135 km), so it is not an aftershock of that megathrust event in the usual sense. I found no source treating it as a precursor. https://watchers.news/2026/10/16/strong-m6-9-earthquake-hits-kamchatka-peninsula-russia/
- [2026-08-14] The Flores M7.8 produced 5,688+ aftershocks, the largest mb 6.1. Its Wikipedia page notes the USGS Mww is 7.8, while a mirror and news items still showed 7.7. Both 7.8 events sit just below the 8.0 threshold. This matters mainly for the "7.9 or below" wording. No upward revision to 8.0 is documented, and I found none. https://en.wikipedia.org/wiki/2026_Flores_earthquake
- [2026-10-16] The 2026 total of about 12 M7+ events is close to the long-run 15–16 a year. A year with many 7.7–7.8 events and no M8+ looks like a normal draw. Nothing in the catalogue says a year-end M8+ is "due". Gutenberg–Richter scaling with b≈1 implies about 1 M8+ for every 10 M7+. With 12 M7+ events already, roughly 1.2 M8+ events would have been expected by now, and none occurred. That shortfall does not mean the remaining 76 days run hotter. https://www.volcanodiscovery.com/earthquakes/today.html
BOTTOM LINE: The only route to NO is a new M≥8.0 event in the remaining 76 days. USGS's own 2000–2021 rate of about 1.23 M8+ a year implies roughly 20–25% for that. Panama's aftershock forecast (about 1% for an M8+ within a month) adds only slightly.
NOT FOUND: Any USGS revision of a 2026 event to 8.0 or higher. Any M7.5+ event after Oct 9. Any foreshock sequence or expert warning of an imminent M8+. The USGS OAF page text itself (it is a JavaScript page; the figures came from a search snippet). USGS counts for 2022–2025 (the table fetched ends at 2021).
3. Forecasters 2 draws · Opus 5.5 + GPT · plain mean · re-drawn after crux research
crux research
The first round disagreed: the draws' mean 0.80 sits 0.19 from the same-question market "this polymarket market" at 0.61.
One more research loop went after the crux and every draw below was redone with its report.
first-round draws:
79%, 80%
· crux loop: 3 searches, 1 page reads
report: crux
CRUX: The question turns on whether USGS lists any 2026 event at M8.0 or higher. The Panama quake's brief initial M8.0 estimate was revised down, so the open question is whether a new M≥8.0 can still occur before Dec 31.
- **2026 maximum is M7.8, with no M≥8.0.** A 2026-10-16 USGS ComCat query sorted by magnitude shows two M7.8 events, both reviewed and both mww. They are 66 km NNW of Ende, Indonesia (Flores, Aug 14) and 25 km SW of Kablalan, Philippines (Mindanao, June 7). Source: https://earthquake.usgs.gov/fdsnws/event/1/query?format=geojson&starttime=2026-01-01&minmagnitude=7.3&orderby=magnitude&limit=10
- **Panama (Oct 9) is final at M7.7 in USGS.** The event page is reviewed, mww 7.7, depth 12.6 km. Source: same USGS query. Reuters reported USGS downgraded an initial 8.0 estimate to 7.6. Source: https://www.usnews.com/news/world/articles/2026-10-09/strong-8-0-magnitude-earthquake-felt-in-panama-usgs. AP/CTV said it went from 8 to 7.6 and then to 7.7. Source: https://www.ctvnews.ca/climate-and-environment/article/massive-76-magnitude-earthquake-strikes-panama-tsunami-threat-issued/
- **Wikipedia's 2026 list (Oct 2026) agrees.** It shows strongest M7.8 (Philippines and Indonesia) and zero events in the 8.0–8.9 and 9.0+ classes. It uses USGS magnitudes. Source: https://en.wikipedia.org/wiki/List_of_earthquakes_in_2026
- **This is an active year for M7+ events, but none reached M8.** The Wikipedia list's table shows 11–12 M7+ events through early October. Venezuela M7.5 and M7.2, Tonga M7.5, Colombia M7.4, North Maluku M7.4, Sanriku M7.4 and Mexico M7.3 are among them. Source: https://en.wikipedia.org/wiki/List_of_earthquakes_in_2026
- **Historical M8+ counts per year, 1999–2025, from the same table:** 0,1,1,0,1,2,1,2,4,1,1,1,1,2,2,1,1,0,1,1,1,0,3,0,0,0,1. That is 7 zero years out of the 27 years 1999–2025, and 31 events in total, about 1.15 per year. Clustering is visible, for example 2021 had 3 and 2007 had 4. The most recent M8+ was Kamchatka M8.8 in 2025, the first since 2021. Source: https://en.wikipedia.org/wiki/List_of_earthquakes_in_2025
- **Remaining window is about 76 days to Dec 31 ET.** That is roughly 0.21 of a year. The extension to Jan 7 applies only if a qualifying quake's magnitude has not been finalized. Source: the market rules in the question.
- **Panama aftershock risk is small.** The earlier sequence had aftershocks up to M6.6. The largest reported was M6.6 near Rio Grande. Source: https://abcnews.com/International/tsunami-threat-after-76-magnitude-earthquake-reported-panama/story?id=137140557
- **Sibling market note.** The day-level Polymarket "biggest earthquake" markets exist (Oct 8 and Oct 9, 2026). They do not inform the annual bracket. Source: https://polymarket.com/event/biggest-earthquake-2026-10-09
BOTTOM LINE: The facts are clear. As of Oct 16 the 2026 USGS maximum is M7.8, and Yes holds unless a new M≥8.0 occurs in the remaining ~11 weeks. The long-run M8+ rate of about 1.15 per year gives a modest chance of that. The Panama event's initial 8.0 estimate was revised down and is final at 7.7, which favours the higher-Yes forecasters over the low market price.
NOT FOUND: A live USGS check for any M≥8.0 event on the final days (none shown as of the query). The Panama USGS event page itself was not opened. Any USGS-specific forecast of an M8+ aftershock probability (forecasters cited about 1%).
claude-opus-5-5 · high effort
72% conf
| Yes | 78% |
| No | 22% |
(0) Not yet resolved. A USGS ComCat query on 2026-10-16 shows the 2026 maximum is M7.8 (Mindanao, June 7, and Flores, Aug 14; both reviewed, mww). No 2026 event is M8.0+. The Panama quake is final at M7.7 after an initial 8.0 estimate was revised down. Yes therefore holds unless a new M≥8.0 occurs. (a) About 76 days remain to Dec 31 ET, roughly 0.21 of a year. (b) Status quo is Yes. (c) NO needs a new great earthquake, such as a subduction megathrust somewhere in the Pacific Rim, with a USGS preferred magnitude of 8.0+ before year-end. (d) YES needs only that no such event occurs. That is the default outcome, since no M7+ event has occurred since Oct 9. On rates: the 1999–2025 record averages about 1.15 M8+ per year, and recent years run lower (about 0.6–0.84 per year). A Poisson model over 0.21 years gives roughly 15–22% for at least one M8+. The Panama aftershock forecast adds about 1%. The Polymarket anchor of 61% sits on a very wide 46/76 spread with thin volume. Its 18-point drop this week most likely reflects the transient Panama 8.0 headline, which USGS has since revised to 7.7, so I move above the market toward the base rate. The sibling bracket markets are similarly illiquid. The related 8.0+-by-Oct-31 market at 6.3% for about 15 days is consistent with a rate near 1–1.5 per year.
claude-opus-5-5 · high effort
72% conf
| Yes | 79% |
| No | 21% |
(0) The condition is not yet locked in. The USGS ComCat query on 2026-10-16 shows the 2026 maximum is M7.8 (Mindanao on Jun 7 and Flores on Aug 14, both reviewed mww), with no M8.0+ event. Panama's brief initial 8.0 estimate was revised to a reviewed 7.7. (a) About 76 days remain until Dec 31 ET, roughly 0.21 of a year; the Jan 7 extension only covers finalizing a magnitude. (b) Status quo: if no new M≥8.0 occurs, this resolves Yes. (c) NO scenario: a subduction megathrust in Japan, Chile, Indonesia or the Aleutians reaches USGS Mww 8.0+ before year-end. At a long-run rate of about 0.85–1.2 M8+ per year, a Poisson model gives roughly 16–23%, and the Panama aftershock forecast adds about 1%. (d) YES scenario: the remaining 11 weeks pass without an M8+, as happened in 7 of the last 27 years overall. The market mid of 0.61 sits in a wide 46/76 spread on thin volume ($20k). Its 18-point weekly drop coincides with the initial Panama '8.0' headlines, which have since been corrected to 7.7. The sibling bracket prices imply roughly 75% for Yes. Given the base-rate math, I move above the market anchor to about 0.79.
4. Final plain mean of 2 draws · second round
78%
(72% confidence)
Yes: 78%
No: 22%
Mean of 2 draws (0.78, 0.79) after one crux research pass. (0) Not yet resolved. A USGS ComCat query on 2026-10-16 shows the 2026 maximum is M7.8 (Mindanao, June 7, and Flores, Aug 14; both reviewed, mww). No 2026 event is M8.0+. The Panama quake is final at M7.7 after an initial 8.0 estimate was revised down. Yes therefore holds unless a new M≥8.0 occurs. (a) About 76 days remain to Dec 31 ET, roughly 0.21 of a year. (b) Status quo is Yes. (c) NO needs a new great earthquake, such as a subduction megathrust somewhere in the Pacific Rim, with a USGS preferred magnitude of 8.0+ before year-end. (d) YES needs only that no such event occurs. That is the default outcome, since no M7+ event has occurred since Oct 9. On rates: the 1999–2025 record averages about 1.15 M8+ per year, and recent years run lower (about 0.6–0.84 per year). A Poisson model over 0.21 years gives roughly 15–22% for at least one M8+. The Panama aftershock forecast adds about 1%. The Polymarket anchor of 61% sits on a very wide 46/76 spread with thin volume. Its 18-point drop this week most likely reflects the transient Panama 8.0 headline, which USGS has since revised to 7.7, so I move above the market toward the base rate. The sibling bracket markets are similarly illiquid. The related 8.0+-by-Oct-31 market at 6.3% for about 15 days is consistent with a rate near 1–1.5 per year.
Pipeline Timing
Total pipeline time: 91.3s
Per-tool research timings shown in the Research section above.