Traders bet big on Fed rate cut as December odds soar above 80% on prediction markets

Prediction markets are heavily signaling a 25-basis-point interest rate cut in December, with probabilities hovering above 80% on both Kalshi and Polymarket. Traders on both platforms see only a slim chance of the Federal Reserve holding rates steady and virtually no expectation of a larger move. On Polymarket, the trading volume, or the total dollar amount wagered on this market, is a little over $171 million.AS THE HOLIDAYS APPROACH, THANKSGIVING BECOMES TRUMP'S ECONOMIC TESTMeanwhile, on Kalshi, more than $15.8 million worth of bets have been placed on the Fed decision market.FED'S WALLER S