Crowdwise

Live odds on macro events - Fed decisions, inflation, recessions - from Kalshi and Polymarket.

Rates/Fed
57%
Fed hikes 25bps at the Oct 2026 meeting
Kalshi · vol 404k 20.0
Growth/Recession
9%
US recession by end of 2026?
Polymarket · vol 2.0M 1.5
Inflation
9%
Will inflation reach more than 5% in 2026?
Polymarket · vol 333k 0.5
Commodities/Oil
13%
Will US crude oil reserves fall to 280M by September 25, 2026?
Polymarket · vol 44k 62.3

Next Fed decision - October 2026

Market-implied odds across the possible FOMC outcomes.

Cut >251%Cut 251%Hold43%Hike 2557%Hike >252%

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

Central banks: the crowd vs the curve

The chance each central bank raises before 2027, against what its own futures curve has priced. Kalshi lists one binary per bank and no meeting-by-meeting ladder outside the Fed, so this is the same comparison the chart above makes, cut across banks rather than time.

Crowd: chance of a rise before 2027Futures: basis points priced by end-2026Right: market volume

The two columns are different units. A probability answers whether any rise happens; a curve prices how much. Where the curve has a full rise in and the crowd does not, they disagree. Futures from ASX 30-day interbank futures. The other 5 have no free curve and show the crowd only.

Upcoming resolutions

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

130 markets · grouped by when they resolve · updated 9/18/2026, 6:14:51 PM

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

P %-

This week

2
ThemeMarket
Commodities/OilWill the WTI crude oil settlement price be above 96.49 USD/Bbl on Sep 18, 2026?Kalshi
3%
53ktoday
Commodities/OilWill the WTI crude oil settlement price be above 97.99 USD/Bbl on Sep 21, 2026?Kalshi
36%
4kin 3d

This month

5
ThemeMarket
Commodities/OilWill US crude oil reserves fall to 280M by September 25, 2026?Polymarket
13%
44kin 19d
Growth/RecessionWill the unemployment rate (U-3) be above 3.9% in September?Kalshi
92%
40kin 14d
InflationWill the rate of CPI inflation be above 3.6% for the year ending in September 2026?Kalshi
46%
31kin 26d
Growth/RecessionWill above 100000 jobs be added in September 2026?Kalshi
42%
11kin 14d
Growth/RecessionISM Manufacturing PMI in Sep 2026?Kalshi
65%
667in 13d

This quarter

96
ThemeMarket
GeopoliticsWill the U.S. invade Iran before 2027?Polymarket
17%
66.8Min 15w
GeopoliticsWill China invade Taiwan by end of 2026?Polymarket
4%
42.3Min 15w
GeopoliticsWill Richard Grenell be the leader of Venezuela end of 2026?Polymarket
0%
32.8Min 15w
GeopoliticsWill Frank Donovan be the leader of Venezuela end of 2026?Polymarket
0%
25.8Min 15w
GeopoliticsPutin out as President of Russia by December 31, 2026?Polymarket
5%
21.8Min 15w
Rates/FedNo Fed rate cuts in 2026Polymarket
95%
8.4Min 15w
Rates/Fed11 Fed rate cuts in 2026Polymarket
0%
5.3Min 15w
Rates/Fed10 Fed rate cuts in 2026Polymarket
0%
5.0Min 15w
Rates/Fed9 Fed rate cuts in 2026Polymarket
0%
4.3Min 15w
Rates/Fed6 Fed rate cuts in 2026Polymarket
0%
4.2Min 15w
Rates/Fed12+ Fed rate cuts in 2026Polymarket
0%
4.0Min 15w
Rates/Fed7 Fed rate cuts in 2026Polymarket
0%
3.5Min 15w
Rates/Fed8 Fed rate cuts in 2026Polymarket
0%
3.3Min 15w
Rates/Fed2 Fed rate cuts in 2026Polymarket
0%
3.2Min 15w
Rates/Fed1 Fed rate cut in 2026Polymarket
2%
3.2Min 15w
Rates/Fed5 Fed rate cuts in 2026Polymarket
0%
3.0Min 15w
Rates/Fed3 Fed rate cuts in 2026Polymarket
0%
2.9Min 15w
Rates/Fed4 Fed rate cuts in 2026Polymarket
0%
2.7Min 15w
Rates/FedFed holds at the Oct 2026 meetingPolymarket
44%
2.1Min 6w
Growth/RecessionUS recession by end of 2026?Polymarket
9%
2.0Min 19w
Rates/FedFed hikes 25bps at the Oct 2026 meetingPolymarket
55%
1.7Min 6w
Rates/FedFed cuts 25bps at the Oct 2026 meetingPolymarket
1%
1.5Min 6w
Rates/FedFed cuts rates before 2027Kalshi
5%
1.3Min 15w
Rates/FedFed hikes 50+bps after the Oct 2026 meetingPolymarket
1%
1.1Min 6w
Rates/FedFed cuts 50+bps after the Oct 2026 meetingPolymarket
0%
1.1Min 6w
Rates/FedFed holds at the Oct 2026 meetingKalshi
43%
563kin 6w
Rates/FedFed rate cut by December 2026 meeting?Polymarket
3%
367kin 16w
Rates/FedFed lower bound ≤2.75% before 2027Polymarket
2%
366kin 15w
InflationWill inflation reach more than 5% in 2026?Polymarket
9%
333kin 15w
Rates/FedFed lower bound ≤3.0% before 2027Polymarket
1%
320kin 15w
Rates/FedFed hikes 25bps at the Dec 2026 meetingPolymarket
68%
297kin 12w
Rates/FedFed emergency rate cut before 2027?Polymarket
3%
231kin 15w
Rates/FedFed lower bound ≤2.5% before 2027Polymarket
1%
225kin 15w
Growth/RecessionWill China’s 2026 annual GDP growth (Y/Y) be between 4.0% and 5.0%?Polymarket
90%
224kin 19w
Rates/FedFed cuts 25bps at the Dec 2026 meetingPolymarket
2%
222kin 12w
Rates/FedFed holds at the Dec 2026 meetingPolymarket
31%
212kin 12w
Growth/RecessionWill US unemployment reach at least 5.5% in 2026?Polymarket
7%
206kin 19w
InflationWill inflation reach more than 4.5% in 2026?Polymarket
20%
204kin 15w
Rates/FedWill the Fed have an emergency meeting before Jan 1, 2027?Kalshi
10%
180kin 15w
Rates/FedFed rate cut by October 2026 meeting?Polymarket
1%
170kin 7w
Rates/FedFed cuts 50+bps after the Dec 2026 meetingPolymarket
0%
170kin 12w
Rates/FedFed hikes 50+bps after the Dec 2026 meetingPolymarket
2%
164kin 12w
Rates/FedFed upper bound ≥5.25% before 2027Polymarket
3%
143kin 15w
Growth/RecessionWill US unemployment reach at least 5.0% in 2026?Polymarket
9%
142kin 19w
Rates/FedFed lower bound ≤0.25% before 2027Polymarket
2%
132kin 15w
Growth/RecessionWhen will the next U.S. recession start?Kalshi
3%
131kin 15w
Rates/FedFed upper bound ≥4.25% before 2027Polymarket
69%
130kin 15w
Growth/RecessionWill China’s 2026 annual GDP growth (Y/Y) be 9% or higher?Polymarket
1%
118kin 19w
Rates/FedFed holds at the Dec 2026 meetingKalshi
31%
112kin 12w
Rates/FedFed lower bound ≤0.5% before 2027Polymarket
2%
107kin 15w
Rates/FedWill the 10-year Treasury yield hit 5.2% before 2027?Polymarket
45%
95kin 15w
Commodities/OilWill the WTI front-month settle oil price be >116.99 on Nov 3, 2026?Kalshi
12%
89kin 7w
Growth/RecessionWill China’s 2026 annual GDP growth (Y/Y) be between 6.0% and 7.0%?Polymarket
0%
88kin 19w
Rates/FedFed lower bound ≤3.25% before 2027Polymarket
5%
82kin 15w
Growth/RecessionWill China’s 2026 annual GDP growth (Y/Y) be between 3.0% and 4.0%?Polymarket
1%
81kin 19w
Growth/RecessionWill China’s 2026 annual GDP growth (Y/Y) be between 5.0% and 6.0%?Polymarket
6%
81kin 19w
Rates/FedFed upper bound ≥4.75% before 2027Polymarket
5%
81kin 15w
Growth/RecessionWill US unemployment reach at least 6.0% in 2026?Polymarket
6%
80kin 19w
Growth/RecessionWill China’s 2026 annual GDP growth (Y/Y) be between 1.0% and 2.0%?Polymarket
0%
76kin 19w
Growth/RecessionWill real GDP increase by more than 4.0% in Q3 2026?Kalshi
19%
75kin 6w
InflationWill inflation reach more than 6% in 2026?Polymarket
5%
69kin 15w
Growth/RecessionWill China’s 2026 annual GDP growth (Y/Y) be below 1.0%?Polymarket
0%
68kin 19w
Growth/RecessionWill China’s 2026 annual GDP growth (Y/Y) be between 7.0% and 8.0%?Polymarket
0%
65kin 19w
InflationWill inflation reach more than 10% in 2026?Polymarket
3%
60kin 15w
Commodities/OilWill Venezuelan crude oil production reach 1.7m barrels per day in 2026?Polymarket
3%
60kin 23w
Rates/FedWill the 10-year Treasury yield dip below 3.8% before 2027?Polymarket
5%
57kin 15w
Rates/FedBank of England rate hike in 2026?Polymarket
84%
56kin 15w
Rates/FedFed upper bound ≥5.5% before 2027Polymarket
3%
55kin 15w
Growth/RecessionWill China’s 2026 annual GDP growth (Y/Y) be between 8.0% and 9.0%?Polymarket
1%
55kin 19w
Growth/RecessionWill real GDP increase by more than 3.5% in Q4 2026?Kalshi
13%
52kin 19w
Rates/FedWill the 10-year Treasury yield dip below 3.9% before 2027?Polymarket
5%
51kin 15w
Growth/RecessionWill US unemployment reach at least 10.0% in 2026?Polymarket
4%
51kin 19w
Rates/FedWill the 10-year Treasury yield hit 5.5% before 2027?Polymarket
10%
49kin 15w
Rates/FedWill the ECB announce a 25 bps increase at the October 2026 meeting?Polymarket
44%
47kin 6w
Growth/RecessionWill China’s 2026 annual GDP growth (Y/Y) be between 2.0% and 3.0%?Polymarket
0%
46kin 19w
Rates/FedAnother Fed rate hike in 2026?Polymarket
84%
45kin 12w
Rates/FedWill the 10-year Treasury yield dip below 3.5% before 2027?Polymarket
2%
43kin 15w
Growth/RecessionWill Eurozone GDP growth in Q3 2026 be between 0.8% and 1.1%?Polymarket
56%
43kin 6w
InflationWill the UK’s 2026 inflation be between 3.5% and 3.9%?Polymarket
44%
43kin 18w
Rates/FedNo change in Bank of Japan’s interest rates after the October 2026 meeting?Polymarket
82%
42kin 6w
InflationWill inflation reach more than 8% in 2026?Polymarket
3%
42kin 15w
Rates/FedFed lower bound ≤2.25% before 2027Polymarket
2%
42kin 15w
Rates/FedFed holds at the Jan 2027 meetingKalshi
61%
29kin 19w
Rates/FedWill the Bank of England raise the Bank Rate before 2027?Kalshi
83%
13kin 15w
Commodities/OilHow many oil barrels per day will the US produce this year?Kalshi
88%
10kin 15w
Rates/FedFed holds at the Mar 2027 meetingKalshi
67%
7kin 26w
Rates/FedFed funds >3.25% after the Mar 2027 meetingKalshi
84%
5kin 26w
InflationWill the rate of CPI inflation be above 3.8% for the year ending in November 2026?Kalshi
35%
3kin 12w
Rates/FedWill the 10-year minus 2-year Treasury spread be above 1.00% between Issuance and December 31, 2026?Kalshi
21%
3kin 15w
Growth/RecessionWill above 0 jobs be added in October 2026?Kalshi
82%
3kin 7w
Growth/RecessionWill the unemployment rate (U-3) be above 3.9% in October?Kalshi
82%
3kin 7w
Growth/RecessionWill the US effective tariff rate (customs duties collected ÷ nominal imports of goods, represented by B235RC1Q027SBEA ÷ A255RC1Q027SBEA) for Q3 2026 be above 8%?Kalshi
91%
2kin 6w
InflationWill the rate of CPI inflation be above 4.9% for the year ending in December 2026?Kalshi
19%
2kin 17w
Growth/RecessionWill above 125000 jobs be added in November 2026?Kalshi
25%
2kin 11w
Growth/RecessionWill the unemployment rate (U-3) be above 4.1% in November?Kalshi
62%
1kin 11w
Rates/FedFed funds >6.00% after the Jan 2027 meetingKalshi
50%
in 19w

Long-dated

27