Wall Street is betting on rate cuts. Kalshi markets see the Fed hiking again.

On Kalshi, traders are pricing a 69 percent probability that the Federal Reserve raises interest rates at least once between now and December 2027, per the April 16 closing print.1 At the same horizon, Goldman Sachs still forecasts a Fed funds target of 3.00 to 3.25 percent by year-end 2026.