The sign of the differential is part of the measurement. A question about exceeding a spread is not automatically a question about winning the match.

What the primary record establishes

CFTC record 66071 identifies KEX’s BAL points-differential class dated 29 October 2026. It references the Basketball Africa League’s official game record. CFTC record 66071 — 29 October 2026 ↗ KalshiEX — BAL points-differential contract terms ↗

The differential is the selected team’s points minus the opponent’s. Losses are negative, ties zero; the terms permit negative thresholds and distinguish strict from inclusive comparisons. KalshiEX — BAL points-differential contract terms ↗

What the distinction changes

WFN hypothetical: a 78–82 result produces −4 for the selected team. That value is above −5 even though the team lost; it is not above −4, while it is at least −4.

The example demonstrates arithmetic, not an actual result. Dropping the minus sign or replacing above with at least would change the proposition at a boundary.

What to check before drawing a conclusion

Record the selected team, segment, subtraction order and operator together. Switching team perspective reverses the sign, so a correct scoreboard alone is insufficient to reconstruct the contract question.

Read the period and exceptional-result rules before settlement analysis. The filing documents the product’s measurement design and stated status, not a guaranteed trading opportunity, a future winner or a claim that all spread-labelled instruments share these terms.