Crowdwise

The crowd's odds on macro events - live implied probabilities from the Kalshi and Polymarket prediction markets.

Rates/Fed
56%
Fed hikes 25bps at the Sep 2026 meeting
Kalshi · vol 517k 5.0
Growth/Recession
9%
US recession by end of 2026?
Polymarket · vol 1.7M 4.0
Inflation
14%
Will inflation reach more than 5% in 2026?
Polymarket · vol 298k 2.0
Commodities/Oil
3%
Will Venezuelan crude oil production reach 1.7m barrels per day in 2026?
Polymarket · vol 59k

Next Fed decision - September 2026

Market-implied odds across the possible FOMC outcomes.

Cut >1%Cut 252%Hold43%Hike 2556%Hike >2%

Each outcome is a separate market; live prices sum to 104%, not exactly 100%.

Fed path: futures vs the crowd

Where the futures market (OIS/SOFR) and the prediction-market crowd each price the policy rate heading - a gap between the two is the disagreement.

Outcome by meeting

The full outcome distribution priced for each upcoming FOMC meeting.

CutHoldHike

Upcoming resolutions

When the biggest markets settle - the macro calendar the crowd is watching.

130 markets · grouped by when they resolve · updated 8/4/2026, 7:20:24 AM

Near-term macro leads; long-dated markets sink to the bottom. Bar length = implied probability.

P %-

This week

4

This month

6
ThemeMarketProbabilityVolumeResolves7d
InflationWill the rate of CPI inflation be above 3.4% for the year ending in July 2026?Kalshi
27%
154kin 8d
InflationWill monthly inflation increase by 0.1% or more in July?Polymarket
66%
60kin 8d
InflationWill annual inflation be 3.3% in July?Polymarket
36%
56kin 8d
InflationWill annual inflation be 3.4% in July?Polymarket
41%
55kin 8d
Growth/RecessionWill the unemployment rate (U-3) be above 4.4% in August?Kalshi
16%
4kin 31d
Growth/RecessionWill above 0 jobs be added in August 2026?Kalshi
91%
856in 31d

This quarter

79
ThemeMarketProbabilityVolumeResolves7d
GeopoliticsWill the U.S. invade Iran before 2027?Polymarket
22%
55.7Min 21w
GeopoliticsWill China invade Taiwan by end of 2026?Polymarket
4%
39.4Min 21w
GeopoliticsWill Richard Grenell be the leader of Venezuela end of 2026?Polymarket
0%
32.5Min 21w
GeopoliticsWill Frank Donovan be the leader of Venezuela end of 2026?Polymarket
0%
25.8Min 21w
GeopoliticsPutin out as President of Russia by December 31, 2026?Polymarket
9%
18.4Min 21w
Rates/FedNo Fed rate cuts in 2026Polymarket
89%
6.8Min 21w
Rates/FedFed rate hike in 2026?Polymarket
68%
6.2Min 18w
Rates/Fed11 Fed rate cuts in 2026Polymarket
0%
5.0Min 21w
Rates/Fed10 Fed rate cuts in 2026Polymarket
0%
4.8Min 21w
Rates/Fed9 Fed rate cuts in 2026Polymarket
0%
4.1Min 21w
Rates/Fed6 Fed rate cuts in 2026Polymarket
0%
3.8Min 21w
Rates/Fed12+ Fed rate cuts in 2026Polymarket
0%
3.6Min 21w
Rates/FedFed holds at the Sep 2026 meetingPolymarket
43%
3.4Min 6w
Rates/FedFed cuts 25bps at the Sep 2026 meetingPolymarket
1%
3.3Min 6w
Rates/Fed8 Fed rate cuts in 2026Polymarket
0%
3.2Min 21w
Rates/Fed7 Fed rate cuts in 2026Polymarket
0%
3.1Min 21w
Rates/FedFed hikes 25bps at the Sep 2026 meetingPolymarket
55%
2.8Min 6w
Rates/Fed5 Fed rate cuts in 2026Polymarket
0%
2.5Min 21w
Rates/Fed2 Fed rate cuts in 2026Polymarket
3%
2.3Min 21w
Rates/Fed1 Fed rate cut in 2026Polymarket
8%
2.3Min 21w
Rates/Fed3 Fed rate cuts in 2026Polymarket
1%
2.3Min 21w
Rates/Fed4 Fed rate cuts in 2026Polymarket
0%
2.3Min 21w
Growth/RecessionUS recession by end of 2026?Polymarket
9%
1.7Min 26w
Rates/FedFed cuts 50+bps after the Sep 2026 meetingPolymarket
1%
1.5Min 6w
Rates/FedFed hikes 50+bps after the Sep 2026 meetingPolymarket
1%
1.4Min 6w
Rates/FedFed cuts rates before 2027Kalshi
12%
890kin 21w
Rates/FedFed Rate Hike by September 2026 Meeting?Polymarket
56%
630kin 18w
Rates/FedFed hikes at the Sep 2026 meetingKalshi
2%
575kin 6w
Rates/FedFed Rate Hike by October 2026 Meeting?Polymarket
63%
361kin 18w
Rates/FedFed lower bound ≤2.75% before 2027Polymarket
3%
356kin 21w
Rates/FedFed lower bound ≤3.0% before 2027Polymarket
4%
303kin 21w
InflationWill inflation reach more than 5% in 2026?Polymarket
14%
298kin 21w
Rates/FedWill the Fed decide differently in the next three decisions (Jun–Jul–Sep)?Polymarket
57%
287kin 6w
Rates/FedWill the Fed decide differently in the next three decisions (Jul–Sep–Oct)?Polymarket
66%
280kin 12w
Rates/FedWill the Fed Pause–Pause–Pause in the next three decisions (Jun–Jul–Sep)?Polymarket
43%
264kin 6w
Rates/FedWill the Fed Pause–Pause–Pause in the next three decisions (Jul–Sep–Oct)?Polymarket
28%
215kin 12w
Rates/FedFed lower bound ≤2.5% before 2027Polymarket
4%
206kin 21w
Rates/FedWill the Fed have an emergency meeting before Jan 1, 2027?Kalshi
11%
170kin 21w
Rates/FedFed upper bound ≥5.25% before 2027Polymarket
3%
142kin 21w
InflationWill inflation reach more than 4.5% in 2026?Polymarket
24%
136kin 21w
Growth/RecessionWhen will the next U.S. recession start?Kalshi
0%
131kin 21w
Rates/FedFed lower bound ≤0.25% before 2027Polymarket
3%
130kin 21w
Rates/FedFed cuts rates before 2027Polymarket
6%
122kin 21w
Rates/FedFed hikes 25bps at the Oct 2026 meetingPolymarket
23%
106kin 12w
Rates/FedFed lower bound ≤0.5% before 2027Polymarket
2%
104kin 21w
Rates/FedFed holds at the Oct 2026 meetingPolymarket
69%
102kin 12w
Rates/FedFed cuts 50+bps after the Oct 2026 meetingPolymarket
2%
100kin 12w
Rates/FedFed upper bound ≥4.25% before 2027Polymarket
32%
97kin 21w
Rates/FedFed cuts 25bps at the Oct 2026 meetingPolymarket
6%
96kin 12w
Rates/FedFed funds >3.75% after the Sep 2026 meetingKalshi
56%
90kin 6w
Rates/FedFed lower bound ≤3.25% before 2027Polymarket
8%
80kin 21w
Rates/FedFed upper bound ≥4.75% before 2027Polymarket
4%
79kin 21w
Rates/FedWill the 10-year Treasury yield hit 5.0% before 2027?Polymarket
23%
79kin 21w
InflationWill inflation reach more than 6% in 2026?Polymarket
4%
63kin 21w
Rates/FedWill the ECB announce a 25 bps increase at the September 2026 meeting?Polymarket
88%
59kin 5w
Rates/FedWill the Fed Pause–Pause–Cut in the next three decisions (Jun–Jul–Sep)?Polymarket
2%
58kin 6w
Rates/FedWill the 10-year Treasury yield hit 4.8% before 2027?Polymarket
68%
58kin 21w
Rates/FedWill the Bank of Japan announce a 25 bps increase at the September 2026 meeting?Polymarket
37%
58kin 6w
InflationWill inflation reach more than 10% in 2026?Polymarket
3%
54kin 21w
Rates/FedFed upper bound ≥5.5% before 2027Polymarket
3%
52kin 21w
Rates/FedFed cuts 25bps at the Oct 2026 meetingKalshi
7%
35kin 12w
Rates/FedFed raises rates before 2027Kalshi
69%
25kin 21w
Rates/FedFed funds >3.50% after the Dec 2026 meetingKalshi
86%
23kin 18w
Rates/FedFed holds at the Jan 2027 meetingKalshi
64%
20kin 25w
Rates/FedFed hikes 25bps at the Dec 2026 meetingKalshi
34%
13kin 18w
Rates/FedFed funds >3.25% after the Jan 2027 meetingKalshi
82%
13kin 25w
Growth/RecessionWill above 125000 jobs be added in September 2026?Kalshi
39%
5kin 8w
Rates/FedFed funds >3.50% after the Oct 2026 meetingKalshi
93%
5kin 12w
Growth/RecessionWill the unemployment rate (U-3) be above 4.4% in September?Kalshi
19%
4kin 8w
InflationWill the rate of CPI inflation be above 4.3% for the year ending in August 2026?Kalshi
2%
3kin 5w
Rates/FedWill the 10-year minus 2-year Treasury spread be above 1.00% between Issuance and December 31, 2026?Kalshi
22%
3kin 21w
Growth/RecessionWill above 0 jobs be added in October 2026?Kalshi
78%
2kin 13w
Growth/RecessionWill real GDP increase by more than 2.5% in Q3 2026?Kalshi
58%
2kin 12w
InflationWill the rate of CPI inflation be above 3.4% for the year ending in November 2026?Kalshi
30%
2kin 18w
Growth/RecessionWill the unemployment rate (U-3) be above 4.0% in October?Kalshi
71%
2kin 13w
Growth/RecessionWill above 125000 jobs be added in November 2026?Kalshi
17%
2kin 17w
Growth/RecessionWill real GDP increase by more than 1.5% in Q4 2026?Kalshi
74%
2kin 25w
InflationWill the rate of CPI inflation be above 3.9% for the year ending in September 2026?Kalshi
14%
883in 10w
Growth/RecessionWill the unemployment rate (U-3) be above 4.5% in November?Kalshi
29%
555in 17w

Long-dated

41