Fed Guaranteed To Cut Interest Rates? Polymarket, Kalshi Bettors Expect Nearly 100% Chance As Jerome Powell Takes Center Stage

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Cryptocurrency bettors are almost certain that the Federal Reserve will enact a quarter-point interest rate cut at the end of its December meeting on Wednesday.

Prediction Markets Give A Thumbs Up

The odds of a 25 basis-point cut stood at 97% on the decentralized prediction platform Polymarket, up from 70% only a month ago.

On the other hand, the probability that rates will remain unchanged from the current 3.75%-4.00% range has collapsed to 3%.

As of this writing, over $348 million has been wagered on the outcome. The market’s resolution will depend on the Federal Open Market Committee’s statement following the Wednesday meeting.

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