{
  "_notice": {
    "type": "free_key_offer",
    "message": "Free and anonymous access is staying. If this endpoint is in your pipeline, a free key adds advance notice before any schema change or deprecation. POST /v1/keys {\"email\": \"you@firm.com\"} — nothing else required. Something broken or missing? hello@clearmarket.fyi reaches a human.",
    "docs": "https://clearmarket.fyi/for-data/",
    "policy": "This field is additive and its shape will not change."
  },
  "event_id": "CM-EVT-RWRZ1R3SD6",
  "slug": "kxlargecut-26",
  "question": "Will the Federal Reserve do a rate cut greater than 25 basis points this year?",
  "category": "economics",
  "event_type": "BINARY",
  "ladder_distribution": null,
  "tags": [
    "economics",
    "federal-reserve",
    "monetary-policy",
    "interest-rates",
    "rate-cuts",
    "2027"
  ],
  "catalyst_types": [],
  "catalyst_dates": [],
  "editorial_notes": "This market tracks whether the Federal Reserve will cut its policy rate by more than 25 basis points at any single meeting in 2026. Kalshi prices the magnitude of a rate cut, asking whether the Fed will exceed a 25-basis-point threshold. Resolution is determined by Kalshi staff using Federal Reserve Board of Governors announcements of federal funds target range decisions throughout 2026. The market closes January 1, 2027.",
  "venues_covered": [
    "kalshi"
  ],
  "primary_market_id": "CM-MKT-8B97N5L5W9",
  "current_primary_mark": {
    "last_price": 0.085,
    "implied_probability": 0.085
  },
  "created_at": "2026-07-06T00:30:45.836226+00:00",
  "updated_at": "2026-07-06T00:30:45.836226+00:00",
  "markets": [
    {
      "market_id": "CM-MKT-8B97N5L5W9",
      "event_id": "CM-EVT-RWRZ1R3SD6",
      "platform": "kalshi",
      "platform_market_id": "KXLARGECUT-26",
      "question": "Will the Fed cut rates more than 25 bps in 2026?",
      "description": "In 2026",
      "contract_type": "binary",
      "settlement_currency": "USD",
      "underlying_reference": "The Federal Reserve Board of Governors' announcements of the federal funds rate target range decisions throughout 2026 determine total basis points of rate cuts.",
      "close_at": "2027-01-01T15:00:00Z",
      "resolve_at": "2027-01-01T15:00:00Z",
      "status": "open",
      "resolution": {
        "rules_raw": "If the Federal Reserve cuts rates by more than 25 basis points before Dec 31, 2026, then the market resolves to Yes.\n\nFor example, this market will resolve to Yes if the Federal Reserve cuts rates by 50 basis points during one day, non-scheduled meetings are included. The Federal Reserve cutting rates by 25 basis points in January and 25 basis points in March would not be sufficient to resolve this market.",
        "arbitration_model": "kalshi_staff",
        "proposer": "platform_staff",
        "source": "Federal Reserve",
        "source_status": "platform_named",
        "source_citation": "https://www.federalreserve.gov/monetarypolicy/openmarket.htm",
        "sources": [
          {
            "name": "Federal Reserve",
            "url": "https://www.federalreserve.gov/monetarypolicy/openmarket.htm",
            "provenance": "platform_api"
          }
        ],
        "source_of_record": "Federal Reserve",
        "source_mechanism": "single_authority",
        "source_type": null,
        "source_quality": "authoritative",
        "source_commitment": "named",
        "source_commitment_subtype": "named",
        "source_hedge_text": null
      },
      "rcg": {
        "grade": "A",
        "score": 100,
        "caps": [],
        "applied_factors": 6
      },
      "last_price": 0.085,
      "implied_probability": 0.085,
      "volume_24h_usd": 100.98425,
      "volume_total_usd": 41288.75,
      "settlement_style": "touch",
      "direction": null,
      "threshold": null,
      "question_id": "CMX-CFC13EDCE1",
      "also_on": null,
      "tags": [
        "fed",
        "federal funds rate",
        "monetary-policy",
        "rates",
        "usa"
      ],
      "eligibility_screens": [
        {
          "regime": "ciro-26-0076",
          "screen_version": "v1",
          "status": "eligible",
          "reasons": [],
          "bucket": "economic_forecasts",
          "screened_at": "2026-06-12"
        }
      ]
    }
  ],
  "resolution_log": [],
  "_provenance": {
    "source": "clearmarket.fyi",
    "ref": "CM-EVT-RWRZ1R3SD6",
    "terms": "Attribution required. clearmarket.fyi"
  }
}