Polymarket puts December rate-cut odds at 87% as crypto stocks climb

Several crypto-linked stocks, including Bitcoin miners Cleanspark, Riot Platforms, and Cipher Mining, climbed significantly as the probability of a US Federal Reserve rate cut in December reached 87% on the Polymarket prediction platform. Circle, the USDC issuer, saw a nearly 10% jump, while Bitcoin also rose about 7% for the week. This surge in rate-cut expectations followed comments from Fed Governor Christopher Waller on November 17, who suggested the central bank should consider cutting rates due to a weak labor market and cooling inflation, reversing earlier hawkish sentiment from Fed Chair Jerome Powell. The article also notes the growing influence of prediction markets like Polymarket and Kalshi, highlighting Polymarket's new partnerships and Kalshi's significant funding round, as well as rumors of Coinbase developing its own platform.

(Source：Cointelegraph)