Polymarket Puts December Rate-cut Odds At 87% As Crypto Stocks Climb

Cleanspark, Riot, Cipher and Circle rose higher as the odds of a US rate-cut in December reached its highest level of the month on the prediction market.

Several crypto-linked stocks climbed on Friday as prediction-market odds of a December rate cut surged to 87% on Polymarket, the highest level this month.

Three US-listed Bitcoin miners led the rally, with Cleanspark, Riot Platforms and Cipher Mining all rising in the session and showing double-digit gains over the past five days.

Yahoo Finance data showed Circle, the issuer of USDC, jumped nearly 10% in early trading, while Michael Saylor’s Strategy and Coinbase notched more modest increases at the time of writing.

Bitcoin (BTC) was also up around 7% on the week, after dropping to around $82,000 on Nov. 21, according to CoinGecko data.

Much of the volatility in prediction-market pricing this month has been driven by comments from Federal Reserve officials.

On Oct. 29, Fed Chair Jerome Powell said a December cut was “not a foregone conclusion,” a remark investors took as hawkish — which means the Fed could delay rate cuts and keep conditions tight. Polymarket odds slipped from 89% the day before to as low as 22% by Nov. 20.

Sentiment shifted on Nov. 17 after Fed Governor Christopher Waller said the central bank should consider cutting rates next month, arguing that “the labor market is still weak and near stall speed” and that inflation is now “relatively close” to the Fed’s 2% target.

Related: Kalshi, Polymarket traders bet Supreme Court will curb Trump’s tariff powers

Prediction markets, such as Kalshi and Polymarket, which enable bettors to wager on the outcomes of real-world events, have expanded their reach and influence this year.

Source: CoinTelegraph