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.
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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 in the session and showing double-digit gains over the past five days.
Yahoo Finance showed Circle, the issuer of USDC, jumped nearly 10% in early trading, while Michael Saylor’s and notched more modest increases at the time of writing.
Bitcoin () was also up around 7% on the week, after dropping to around $82,000 on Nov. 21, according to CoinGecko .
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 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 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.
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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.
On Nov. 13, Polymarket inked a multi-year to serve as the official prediction-market partner for the Ultimate Fighting Championships and Zuffa Boxing. The partnership came shortly after it partnered with North American fantasy .
The same month, from Sequoia Capital and CapitalG, pushing its valuation to $11 billion, according to a TechCrunch report citing a person familiar with the deal. The new round followed a .
On Nov. 19, rumors emerged that after tech researcher Jane Manchun Wong posted screenshots of an unreleased site. Wong’s images indicated the product would be offered through Coinbase Financial Markets and backed by Kalshi.
On Wednesday, Robinhood said prediction markets have quickly become one of its , with more than one million users trading nine billion contracts since the product launched in March through a partnership with Kalshi.
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