Data from popular prediction markets Kalshi and Polymarket show that bets regarding the Fed Chair pick on both platforms are now worth over $9 million.
Prediction markets are buzzing with bets on who will be the next Chair of the Federal Reserve, following a report on Tuesday that current White House National Economic Council Director Kevin Hassett is being seen as the frontrunner to succeed Jerome Powell.
Data from popular prediction markets Kalshi and Polymarket show that bets regarding the Fed Chair pick on both platforms are now worth over $9 million. While Kalshi volumes show bets worth more than $3.59 million, Polymarket bets had reached a total of over $5.46 million at the time of writing.
What Are Prediction Markets Saying?
Data from Kalshi shows a 55% probability that Hassett will emerge as the Fed Chair pick. Participants on Polymarket were relatively less optimistic, with data indicating a 36% probability that Hassett would be picked as the Fed Chair at the time of writing.
While Treasury Secretary Scott Bessent has stated that President Donald Trump could name the Fed Chair nominee before Christmas, the Trump administration has not yet announced an official timeline.
The Polymarket poll shows a 47% probability that President Trump will not announce his nominee before December 31.
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