Kalshi traders raise odds of Sept. Fed 25bp hike to 43% during Warsh speech

As Fed Chairman Kevin Warsh’s Jackson Hole speech was under way, users on crypto-based prediction market Kalshi raised the implied odds of a 25-basis-point Fed rate hike in September to 43% from 30% before the speech. The implied probability of rates staying unchanged fell sharply to 55% from 71%, according to the market.