Name: Fed rate cut by...?
Start: 2025-09-17T19:05:35.811381Z
End: 2026-01-28T00:00:00Z

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This market will resolve to “Yes” if the upper bound of the target federal funds rate is decreased at any point between September 18 and the completion of the Federal Open Market Committee (FOMC) meeting for October 2025, currently scheduled for October 28–29. Otherwise, this market will resolve to “No”.

If no relevant statement is released for this meeting by the end date of the next scheduled meeting, and no qualifying rate cut is announced, this market will resolve to "No". Emergency rate cuts will qualify.

The primary resolution source for this market will be the official website of the Federal Reserve (https://www.federalreserve.gov/monetarypolicy/openmarket.htm), however a consensus of credible reporting may also be used.


October meeting

This market will resolve to “Yes” if the upper bound of the target federal funds rate is decreased at any point between September 18 and the completion of the Federal Open Market Committee (FOMC) meeting for December 2025, currently scheduled for December 15–16. Otherwise, this market will resolve to “No”.

If no relevant statement is released for this meeting by the end date of the next scheduled meeting, and no qualifying rate cut is announced, this market will resolve to "No". Emergency rate cuts will qualify.

The primary resolution source for this market will be the official website of the Federal Reserve (https://www.federalreserve.gov/monetarypolicy/openmarket.htm), however a consensus of credible reporting may also be used.

December meeting

This market will resolve to “Yes” if the upper bound of the target federal funds rate is decreased at any point between September 18 and the completion of the Federal Open Market Committee (FOMC) meeting for January 2026, currently scheduled for January 27–28. Otherwise, this market will resolve to “No”.

If no relevant statement is released for this meeting by the end date of the next scheduled meeting, and no qualifying rate cut is announced, this market will resolve to "No". Emergency rate cuts will qualify.

The primary resolution source for this market will be the official website of the Federal Reserve (https://www.federalreserve.gov/monetarypolicy/openmarket.htm), however a consensus of credible reporting may also be used.

January meeting

Fed rate cut by...?

This market will resolve to "Yes" if the Federal Open Market Committee (FOMC) holds an emergency meeting after which the upper bound of the target federal funds rate is lowered between January 1 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

An emergency meeting is defined as any unscheduled meeting called by the Federal Reserve Board or the Federal Open Market Committee (FOMC) apart from the regular eight pre-scheduled meetings for 2025.

The resolution source will be official announcements from the Federal Reserve’s website (federalreserve.gov) or credible news sources reporting on the emergency meeting.

Fed emergency rate cut in 2025?

The FED interest rates are defined in this market by the upper bound of the target federal funds range. The decisions on the target federal fund range are made by the Federal Open Market Committee (FOMC) meetings.

This market will resolve according to the decisions made by the next three Federal Open Market Committee (FOMC) meetings in 2025 (September 16-17, October 28-29, and December 9-10).

A qualifying cut occurs when the new upper bound of the target federal funds rate is lower compared to the level it was prior to the respective meeting.

A qualifying hike occurs when the new upper bound of the target federal funds rate is higher compared to the level it was prior to the respective meeting.

A qualifying pause occurs when the new upper bound of the target federal funds rate is equal to the level it was prior to the respective meeting.

If the Fed publishes a different combination than any listed, this market will resolve to "Other".

Emergency rate cuts outside the regularly scheduled meetings will not be considered. 

Any rate hike will be encompassed by "Other".

The resolution source for this market is the FOMC’s statement after its meetings: https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm

The level and change of the target federal funds rate is also published at the official website of the Federal Reserve: https://www.federalreserve.gov/monetarypolicy/openmarket.htm

If no statement is released for the December meeting by December 31, 2025, 11:59 PM ET, this market will resolve to "Other".

Will the Fed cut-cut-cut in 2025?

This market will resolve to “Yes” if the upper bound of the target federal funds rate is increased at any point between January 1, 2025 and the Fed's December 2025 meeting, currently scheduled for December 9-10. Otherwise, this market will resolve to “No”.

This market may not resolve to "No" until the Fed has released its rate changes information following its December meeting.

The primary resolution source for this market will be the official website of the Federal Reserve (https://www.federalreserve.gov/monetarypolicy/openmarket.htm), however a consensus of credible reporting may also be used.

Fed rate hike in 2025?

This market will resolve to “Yes” if the upper bound of the European Central Bank's deposit facility rate is decreased at any point between August 20 and December 31, 2025 ET. Otherwise, this market will resolve to “No”.

This market may not resolve to "No" until December 31, 2025, 11:59 PM ET has passed.

The primary resolution source for this market will be the official website of the European Central Bank (https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html), however a consensus of credible reporting may also be used.

ECB rate cut in 2025?

This market will resolve to “Yes” if the upper bound of the Bank of England's Bank Rate is decreased at any point between August 20 and December 31, 2025 ET. Otherwise, this market will resolve to “No”.

This market may not resolve to "No" until December 31, 2025, 11:59 PM ET has passed.

The primary resolution source for this market will be the official website of the Bank of England (https://www.bankofengland.co.uk/), however a consensus of credible reporting may also be used.

Bank of England rate cut in 2025?

The next Federal Open Market Committee (FOMC) meeting is scheduled for October 28 - 29, 2025. The policy decision will be announced at 2:00 PM Eastern Time on October 29, followed by the Fed Chair’s press conference at around 2:30 PM ET.

This market will resolve according to the number of dissenting votes recorded at the next Federal Reserve Open Market Committee monetary policy meeting, specifically those dissenting on the Fed Funds Rate decision.

The resolution source for this market is the FOMC’s statement after its meeting scheduled for October 28 - 29, 2025, according to the official calendar: https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm.

Will one person dissent the October Fed decision?

This market will resolve to "Yes" if the United States Federal Reserve is formally abolished by December 31, 2025 ET. Otherwise, this market will resolve to "No".

The primary resolution source for this market will be information from the US federal government, however a consensus of credible reporting will also be used.

Fed abolished in 2025?

This market will resolve to "Yes" if a Fed governor announces they have resigned or will resign between August 8 and October 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No."

For this market to resolve to "Yes," it is only necessary that a governor announce that they have resigned or will resign. Whether they actually resign will have no bearing on the resolution of this market.

The primary resolution source for this market will be official information from the US federal government; however, a consensus of credible reporting will also be used.

Fed governor resigns by October 31?

The Statement on Monetary Policy for the Bank of Japan's Monetary Policy meeting for October is scheduled to be released on October 30, 2025 (https://www.boj.or.jp/en/mopo/mpmsche_minu/m_ref/mref240731a.pdf).

This market will resolve to the amount of basis points the upper bound of the short-term policy interest rate is changed by versus the level it was prior to the Bank of Japan's October 2025 meeting.

If the short-term policy interest rate is changed to a level not expressed in the displayed options, the change will be rounded up to the nearest 25 and will resolve to the relevant bracket. (e.g. if there's a cut/increase of 12.5 bps it will be considered to be 25 bps)

The primary resolution source for this market will be the official website of the Bank of Japan (https://www.boj.or.jp/en/mopo/mpmdeci/state_2025/index.htm), however a consensus of credible reporting may also be used.

This market may resolve as soon as the Bank of Japan's statement for their October meeting with relevant data is issued. If no statement is released by the end date of the next scheduled meeting, this market will resolve to the "No change" bracket.

No change in Bank of Japan's interest rates after October 2025 meeting?

This market will resolve to "Yes" if Donald Trump publicly and unequivocally announces that he is removing another Fed Governor before their term is up, or takes formal action toward doing so, such as issuing a directive or formal request between August 25 and October 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”.

Statements which are contingent (e.g. “Powell must step down or raise rates”), statements of intent (e.g.“I am planning to fire Powell”) or other informal statements which are not unequivocal will not qualify.

The resolution source will be official information from Donald Trump however a consensus of credible reporting may also be used.

Will Trump try to fire another Fed Governor by October 31?

This market will resolve to "Yes" if any US bank fails between September 12, 2025, and September 30, 2025, 11:59 PM ET (according to FDIC's "Failed Bank List"). Otherwise, this market will resolve to "No."

For this market to resolve to "Yes", the bank's closing date as listed by the FDIC must be within the listed date range. If there is a potential bank failure within this market's date range and FDIC "Failed Bank List" has not been updated yet, this market may remain open to allow for the list to be updated.

The primary resolution source for this market will be the Federal Deposit Insurance Corporation (FDIC), specifically the "Failed Bank List" available here: https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/; however, other official statements from the FDIC and government entities will suffice.

US bank failure by September 30?

This market will resolve to "Yes" if any US bank fails between September 13, 2025, and November 30, 2025, 11:59 PM ET (according to FDIC's "Failed Bank List"). Otherwise, this market will resolve to "No."

For this market to resolve to "Yes", the bank's closing date as listed by the FDIC must be within the listed date range. If there is a potential bank failure within this market's date range and FDIC "Failed Bank List" has not been updated yet, this market may remain open to allow for the list to be updated.

The primary resolution source for this market will be the Federal Deposit Insurance Corporation (FDIC), specifically the "Failed Bank List" available here: https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/; however, other official statements from the FDIC and government entities will suffice.

US bank failure by November 30?

This market will resolve to the amount of basis points the upper bound of the deposit facility rate is changed by versus the level it was prior to the European Central Bank's (ECB) October 2025 meeting.

If the deposit facility rate is changed to a level not expressed in the displayed options, the change will be rounded up to the nearest 25 basis points and will resolve to the relevant bracket.
For example, if the deposit facility rate is increased or decreased by 12.5 basis points, it will be treated as a 25 basis point change for the purposes of resolution.

The resolution source for this market is information released by the European Central Bank after its October 30, 2025 policy meeting, as listed on the official ECB calendar:
https://www.ecb.europa.eu/press/calendars/mgcgc/html/index.en.html

The level and change of the deposit facility rate is also published at the official ECB interest rates page:
https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html

This market may resolve as soon as the ECB releases its interest rate decision following the October 30, 2025 meeting.

If no interest rate decision or update is published by December 16, 2025, 11:59 PM ET, this market will resolve to the “No change” bracket.

Will the ECB announce no change at the October meeting?

This market will resolve to the amount of basis points the target for the overnight rate is changed by versus the level it was prior to the Bank of Canada's October 2025 meeting.

If the target for the overnight rate is changed to a level not expressed in the displayed options, the change will be rounded up to the nearest 25 basis points and will resolve to the relevant bracket. For example, if the deposit facility rate is increased or decreased by 12.5 basis points, it will be treated as a 25 basis point change for the purposes of resolution.

The resolution source for this market is information released by the Bank of Canada after its October 29, 2025 policy meeting, as listed on the official Bank of Canada calendar: https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/#target-dates

This market may resolve as soon as the Bank of Canada's statement for their October meeting with relevant data is issued. If no statement is released by the end date of the next scheduled meeting, this market will resolve to the "No change" bracket.

Will the Bank of Canada announce a 25 bps decrease at the October meeting?

The FED interest rates are defined in this market by the upper bound of the target federal funds range. The decisions on the target federal fund range are made by the Federal Open Market Committee (FOMC) meetings.

This market will resolve to “Yes” if the there are exactly 3 cuts of 25 basis points by the Fed's December meeting (including any cuts made during Dec meeting). Otherwise, this market will resolve to “No.”

This market may resolve to "Yes" immediately after the statement from the Fed's December 2025 meeting has been released if there has been exactly 3 rate cuts by then.

Note that cuts between 1-24 bps (inclusive) will also be considered 1 rate cut.

For example, if the FED cuts rates by 50 bps after a meeting, it would be considered 2 cuts (of 25 bps each). If there are 4 or more rate cuts at any point before this market's resolution date, this market will resolve to "No".

The resolution source for this market will be FOMC statements after meetings scheduled in 2025 according to the official calendar: https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm. The level and change of the target federal funds rate is also published at the official website of the Federal Reserve at https://www.federalreserve.gov/monetarypolicy/openmarket.htm.

Will 3 Fed rate cuts happen in 2025?

Jerome Powell is currently scheduled to give an FOMC Introductory Statement and press conference on October 29, 2025, at 2:30 PM ET. This market pertains to his Introductory Statement as well as the following Q&A session.

This market will resolve to "Yes" if Powell says the listed term during the FOMC Press Conference. Otherwise, this market will resolve to "No".

Any usage of the word regardless of context will count toward the resolution of this market.

Pluralization/possessive of the word will count toward the resolution of this market, however other forms will NOT count.

Instances where the term is used in a compound word will count regardless of context (e.g. joyful is not a compound word for "joy," however "killjoy" is a compounding of the words "kill" and "joy").

If this market requires a specified number of mentions of a person’s first or last name, a full-name mention will count as one mention (e.g., if a market is about “Joe / Biden 5+ times,” a mention of “Joe Biden” will count once).

If no such statement happens by October 29, 2025, 11:59 PM ET, this market will resolve to "No".

The resolution source will be video of the FOMC Press conference.

Will Powell say "Good afternoon" during October press conference?

This market will resolve to "Yes" if the United States' long-term sovereign credit letter rating is downgraded by any of the three major credit rating agencies (S&P, Moody's, Fitch) at any point between May 19 and December 31, 2025 ET. Otherwise, this market will resolve to "No".

The resolution source for this market will be official information from Standard & Poor's, Moody's, or Fitch, however a consensus of credible reporting will also be used.

Another US debt downgrade in 2025?

This market will resolve to "Yes" if the United States federal government formally charges or announces a criminal indictment of Jerome Powell by December 31, 2025 ET. Otherwise, this market will resolve to "No".

For the purposes of this market the District of Columbia and any county, municipality, or other subdivision of a State shall be included within the definition of a State.

The primary resolution source for this market will be official information from US governmental sources, however a wide consensus of credible reporting will also be used.

Jerome Powell federally charged in 2025?

This market will resolve to "Yes" if a U.S government funding lapse occurs on October 1, 2025, 12:00 AM ET. Otherwise, this market will resolve to "No".

A funding lapse is defined as the President failing to sign the relevant bill(s) extending government funding by September 30, 11:59 PM ET. If a bill extending the funding of the U.S. government is passed and signed by the acting President before October 1, 2025, 12:00 AM ET, this market will resolve to "No".

For this market to resolve to "Yes" any funding lapse will count. If only a portion of the US government is covered by any signed bill(s) extending funding of the US government, and a portion of the US government goes unfunded, this market will still resolve to "Yes".

The primary resolution for this source will be official information from the US government, however a consensus of credible reporting may also be used.

U.S. Government funding lapse on October 1?

This market will resolve to “Yes”, if either of the following conditions are met:

1.  The National Bureau of Economic Research (NBER) publicly announces that a recession has occurred in the United States, at any point in 2025, with the announcement made by December 31, 2025, 11:59 PM ET.

2.  The seasonally adjusted annualized percent change in quarterly U.S. real GDP from the previous quarter is less than 0.0 for two consecutive quarters between Q4 2024 and Q4 2025 (inclusive), as reported by the Bureau of Economic Analysis (BEA). 

Otherwise, this market will resolve to "No". 

Note that advance estimates will be considered. For example, if upon release, the advance estimate for Q2 2025 was negative, and the Q1 2025's most recent, up-to-date estimate was also negative, this market would resolve to "Yes". If on December 31, 2025 the latest estimate for quarterly GDP in Q3 2025 was negative, this market will stay open until the Advance estimate of Q4 2025 is published, at which point it will resolve to "Yes" if Q4 2025 was negative or if the NBER declares a recession by then.

The resolution source will be the official announcements from the NBER and the BEA’s estimate of seasonally adjusted annualized percent change in quarterly US real GDP from previous quarters as released by the Bureau of Economic Analysis (BEA), https://www.bea.gov/data/gdp/gross-domestic-product

US recession in 2025?

This market will resolve to "Yes" if the 30-Year Fixed Rate Mortgage Average in the United States falls below 6.00% at any point between September 2 and December 31, 2025. Otherwise, this market will resolve to "No".

If, for any reason, there is no data point for this market's resolution date on either of the sources listed below, information for the nearest previously available date will be used.

The primary resolution source for this market is Freddie Mac, specifically https://www.freddiemac.com/pmms. The data that will be looked at is the "30Y FRM" as indicated on the graph titled "Primary Mortgage Market Survey®". If the resolution source is unavailable, https://fred.stlouisfed.org/series/MORTGAGE30US will be looked at instead. If both sources are unavailable, other credible reporting may be used.

30-year mortgage rate below 6% by December 31?

This market will resolve to “Yes” if all of the following conditions are met during September 2025 ET:

- Fed decreases interest rates by at least 25 bps
- Bitcoin hits $150k
- Ethereum reaches $5000

Otherwise, this market will resolve to “No”.

The full rules for this market can be found here: 
https://polymarket-upload.s3.us-east-2.amazonaws.com/bul.png

Bull run: September

This market will resolve to "Yes" if the United States federal government fails to make a scheduled payment on any Treasury note, bond, or bill at any point between April 8 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

If Standard & Poor’s, Moody’s, or Fitch publicly classify any U.S. sovereign debt as being in default during the qualifying period this will qualify for a “Yes” resolution. 

The resolution source will be official information from the U.S. Department of the Treasury, Standard & Poor’s, Moody’s, and Fitch.

US defaults on debt in 2025?

In Q4 2024, government expenditures were $7,106,807,000,000 (see https://fred.stlouisfed.org/series/FGEXPND). 

This market will resolve to “Yes” if federal government current expenditures decrease by 5% or more between the Q4 2024 report and the Q4 2025 report. Otherwise, it will resolve to "No".

Any 2025 quarterly report of $6,751,467,000,000 or less will qualify for a “Yes” resolution.

Revisions made to these figures will not be considered, only the values reported in the initial reports will be used.

This market's resolution source is the Federal Government: Current Expenditures chart maintained by the St. Louis Federal Reserve Bank, displayed here (https://fred.stlouisfed.org/series/FGEXPND).


Will Elon cut the budget by at least 5% in 2025?

In Q4 2024, government expenditures were $7,106,807,000,000 see (https://fred.stlouisfed.org/series/FGEXPND). 

This market will resolve to “Yes” if federal government current expenditures decrease by 10% or more between the Q4 2024 report and the Q4 2025 report. Otherwise, it will resolve to "No".

Any 2025 quarterly report of $6,396,126,000,000 or less will qualify for a “Yes” resolution.

Revisions made to these figures will not be considered, only the values reported in the initial reports will be used.

This market's resolution source is the Federal Government: Current Expenditures chart maintained by the St. Louis Federal Reserve Bank, displayed here (https://fred.stlouisfed.org/series/FGEXPND).

Will Elon cut the budget by at least 10% in 2025?

This market will resolve to "Yes" if an official agreement over tariffs, defined as a publicly announced mutual agreement, is reached between the United States and the listed country/entity between September 1, and September 30, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”.

If such an agreement is officially reached before the resolution date, this market will resolve to "Yes", regardless of if/when the agreement goes into effect.

Agreements to extend tariff exemptions will qualify if announced as an individualized extension. However, tariff exemptions which are announced as part of a class of exemptions and do not reflect individual deals - such as Trump’s April 9 pause on all reciprocal tariffs other than those on China - will not qualify (see: https://www.whitehouse.gov/presidential-actions/2025/04/modifying-reciprocal-tariff-rates-to-reflect-trading-partner-retaliation-and-alignment/).  

Informal and unilateral announcements which do not constitute a finalized agreement will not count.
 
Agreements that include the United States and the listed country/entity as parties, even if they also involve other countries, will qualify for resolution.

The primary resolution source for this market will be a consensus of credible reporting confirming an agreement has been reached.

Will Trump agree to a tariff agreement with Switzerland in September?

This market will resolve to "Yes" if Jerome Powell serves any time in custody in a federal, state, or local U.S. jail or prison between July 22 (inclusive) and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

The primary resolution source for this market will be official information from the U.S. Government, however a consensus of credible reporting may also be used.

Jerome Powell in jail in 2025

This market will resolve to "Yes" if the Treasury 10-year yield is lower than the listed value for any date between February 24 and December 31, 2025. Otherwise this market will resolve to "No".

The resolution source for this market is the Department of the treasury, specially the data listed under "Daily Treasury Par Yield Curve Rates" for the column "10 Yr" (see: https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_yield_curve&field_tdr_date_value=2025).


Will the 10-year Treasury yield dip below 4% in 2025?

This market will resolve to "Yes" if the U.S. Office of Personnel Management announces that the U.S. federal government is shut down due to a lapse in appropriations by October 1, 2025, 11:59 PM. Otherwise this market will resolve to "No".

If the Office of Personnel Management announces a partial shutdown this will count, however announcements of office closures due to holidays or inclement weather will not qualify. 

The resolution source for this market will be the website of the U.S. Office of Personnel Management (https://www.opm.gov/policy-data-oversight/snow-dismissal-procedures/current-status/).

US government shutdown by October 1?

Trump's Treasury Secretary pick Scott Bessent has floated the idea of Trump naming a successor to Jerome Powell to serve as a "shadow chair", prior to the end of Powell's term, scheduled for May 2026. (see: https://www.nbcwashington.com/news/business/money-report/fed-chair-jerome-powell-can-serve-remainder-of-term-says-trumps-treasury-pick-bessent/3788991/).

This market will resolve to according the individual Donald Trump announces as his pick for the next Federal Reserve Chair. If Donald Trump does not announce his pick for the next Federal Reserve Chair by December 31, 2025, 11:59 PM ET, this market will resolve to "No announcement by December 31".  

The resolution source for this market will be official information form Donald Trump or one of his official representatives, however a consensus of credible reporting may also be used.

Will Trump refrain from announcing a next Fed Chair in 2025?

This market will resolve to "Yes" if legislation that reduces the federal long-term capital gains tax rate for the highest bracket is signed into law by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

A reduction to the top income bracket for long term capital gains tax (20%) within market timeframe will be sufficient to resolve this market to "Yes". The reduction must apply to the federal long-term capital gains tax rate for individuals and can take effect outside of this market's timeframe.

Temporary reductions or breaks, or changes that do not directly lower the tax rate, such as adjustments to brackets or deductions, will not count.

The primary resolution source for this market will be official information from the US government, however a consensus of credible reporting will also be used.

Will Trump cut long term capital gains tax in 2025?

This market will resolve to "Yes" if the US government holds any amount of XRP in its reserves at any point between January 15, 2025, ET and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

Note that the US government confiscating XRP does not count as holding XRP reserves.

The primary resolution source for this market will be official information from the US government and/or the US federal reserve, however a consensus of credible reporting will also be used.

US national XRP reserve in 2025?

This market will resolve to "Yes" if France's long-term sovereign credit letter rating is downgraded by any of the three major credit rating agencies (S&P, Moody's, Fitch) at any point between September 12, 6:15 PM ET, and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”.

The resolution source for this market will be official information from Standard & Poor's, Moody's, or Fitch; however, a consensus of credible reporting will also be used.

Another France debt downgrade by December 31?

This market will resolve to "Yes" if both of the following conditions prove true at any point in 2025:

1) The "US recession in 2025?" market resolves to "Yes" (https://polymarket.com/event/us-recession-in-2025).

2) The Consumer Price Index (CPI) increases by 5.0% or more over the 12 month period ending in any month between April 2025 and December 2025 according to the US Bureau of Labor Statistics (https://www.bls.gov/bls/news-release/cpi.htm#current)

Otherwise, this market will resolve to "No".

This market will not resolve until all relevant figures are reported for the period of time encompassing December 2025.

The resolution sources for this market will be the NBER, BEA (https://www.bea.gov/data/gdp/gross-domestic-product), and BLS (https://www.bls.gov/bls/news-release/cpi.htm#current), as well as the "US recession in 2025?" market on Polymarket.

US stagflation in 2025?

This market will resolve to "Yes" if Donald J. Trump, as President of the United States, signs into law a bill that lowers the maximum individual tax rate below 37% at any point between January 19 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No."

Note that the cut does not need to go into effect before the resolution date - it just needs to be signed into law by then.

This market's primary resolution source will be official information from the Trump administration, however a consensus of credible information will also be used.



Will Trump cut taxes on high earners in 2025?

This market will resolve to "Yes" if the US government holds any amount of Bitcoin in its reserves at any point between January 1, 2025, ET and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

Note that the US government confiscating Bitcoin does not count as holding Bitcoin reserves.

The primary resolution source for this market will be official information from the US government and/or the US federal reserve, however a consensus of credible reporting will also be used.

US national Bitcoin reserve in 2025?

This market will resolve to "Yes" if Donald J. Trump, as President of the United States, signs into law a bill that lowers the corporate tax rate in the United States below 21% at any point between January 19 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No."

Note that the cut does not need to go into effect before the resolution date - it just needs to be signed into law by then.

This market's primary resolution source will be official information from the Trump administration, however a consensus of credible information will also be used.



Will Trump cut corporate taxes in 2025?

On August 11, 2025, the United States and China announced a 90-day extension of a mutual reduction in tariffs as part of a temporary trade de-escalation agreement.

This market will resolve to "Yes" if an official agreement over tariffs, defined as a publicly announced mutual agreement, is reached between the United States and China between August 12, and November 10, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”.

If such an agreement is officially reached before the resolution date, this market will resolve to "Yes", regardless of if/when the agreement goes into effect.

Agreements to extend the 90 day tariff reduction announced on August 12, will qualify.

Informal and unilateral announcements which do not constitute a finalized agreement will not count.

The publicly announced lowering of tariffs by both China and the U.S. will qualify as a mutual agreement over trade and/or tariffs if confirmed as part of a mutual agreement by an overwhelming consensus of credible reporting, even if a formal agreement isn’t mutually announced.

Agreements that include the United States and China as parties, even if they also involve other countries will qualify for resolution.

The primary resolution source for this market will be an official announcement by the United States and the People's Republic of China, however an overwhelming consensus of credible reporting confirming an agreement has been reached will also qualify.

US-China tariff agreement before 90 day deadline?

This market will resolve to "Yes" if a U.S. bank with total assets exceeding $50 billion as of December 31, 2024 (see:https://www.federalreserve.gov/releases/lbr/current/), is bailed out by the U.S. federal government by December 31, 2025, 11:59 PM ET. Otherwise this market will resolve to “No”.

A bailout is defined as any of these actions in direct response to directly related to solvency, liquidity, or capital adequacy concerns.

-Establishing a Federal Reserve emergency lending facility
-Creating an FDIC-assisted resolution or bridge bank
-A U.S. Treasury capital injection
-A publicly disclosed, regulatory-facilitated acquisition

An official announcement from the U.S. government that they are taking any of these actions will qualify regardless of if/when the action occurs.
 
Routine access to standing facilities (such as the discount window or BTFP) or participation in stress tests, capital raises, or ordinary supervision will not on their own qualify. 

If a bank experiences distress but is acquired privately without public intervention or coordination, this will not qualify.

Major U.S. bank bailout in 2025?

This market will resolve to "Yes" if the U.S. Office of Personnel Management announces that the U.S. federal government is shut down due to a lapse in appropriations by December 31, 2025, 11:59 PM. Otherwise this market will resolve to "No".

If the Office of Personnel Management announces a partial shutdown this will count, however announcements of office closures due to holidays or inclement weather will not qualify. 

The resolution source for this market will be the website of the U.S. Office of Personnel Management (https://www.opm.gov/policy-data-oversight/snow-dismissal-procedures/current-status/).

Fed rate cut by...?

October meeting
$592 Vol.
90%
0123456789
%

December meeting
$1,910 Vol.
96%

January meeting
$5,080 Vol.
98%
0123456789
%

Market Context

Fed rate cut by...?

Rules

Fed rate cut by...?

Market Context

Fed rate cut by...?

About

Related

Fed rate cut by...?

October meeting$592 Vol.90%0123456789%

December meeting$1,910 Vol.96%

January meeting$5,080 Vol.98%0123456789%

Market Context

Fed rate cut by...?

Rules

Fed rate cut by...?

Market Context

Fed rate cut by...?

About

Related

October meeting
$592 Vol.
90%
0123456789
%

December meeting
$1,910 Vol.
96%

January meeting
$5,080 Vol.
98%
0123456789
%