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The gap is the product. Not advice.

PreFair provides economic data, not investment advice. Tokenized private-company exposure is speculative, may be illiquid, and can lose all value. Nothing here is a recommendation to buy, sell, or hold.

PREFAIR / LIVE DATA / SOURCES: PRESTOCKS API, TESSERA PUBLIC API

Route 2, company

One company, opened up

Every figure shows the field it came from, so the comparison stays honest. Then the planner turns the gap into a route for your amount.

Two marks for one company, drawn to scale

Kalshi

Back to board

Venue disagreement

TesseraMark valuation$14.0B

PreStocksMark valuation$34.0B

ComputedMark to mark spread+143%

Effective entry cost

TesseraMark valuation$14.0B

TesseraMark per T-Token$413.80

TesseraEffective entry valuation$14.0B

PreStocksMark valuation$34.0B

PreStocksToken market price$918.40

PreStocksToken mark price$934.55

PreStocksMarket premium over own mark-1.7%

PreStocksEffective entry valuation$33.4B

ComputedEffective total gap+139%

Buying on PreStocks means entering at about $33.4B in company value versus about $14.0B on the other venue, a 139 percent higher entry.

On Solana

PreStockssupply: 905 tokens

PreLWGkkeqG1s4HEfFZSy9moCrJ7btsHuUtfcCeoRua

Swap on Jupiter View on Solscan

Tesserasupply: 1,558 tokens

TKLSidmLVt3cqGaaodG8tyRzoANfQwoh67AccjmubeZ

Swap on Jupiter View on Solscan

READ 2026-10-03 06:51:50 UTC / LIVE

Amount

Assumed exit company valuation, in $B

Your assumption, not a forecast.

Venue to enter

Entering on Tessera buys Kalshi at an effective entry of $14.0B in company value.

Tessera entry

$14.0B

PreStocks entry

$33.4B

Tessera multiple

1.71x

PreStocks multiple

0.72x

Tessera payoff / better route

$1,714

PreStocks payoff

$718

This assumes each token tracks the company valuation proportionally, and ignores fees, liquidity, and the legal difference between the tokens.

Open on Tessera

Not arbitrage. One token is SPV exposure, one is loan participation, with different legal claims and exit terms. Read the gap as a pricing signal, not free money.