Fed rate markets price what the Federal Open Market Committee decides at each meeting: a cut, a hike or no change, and by how many basis points. They settle on the FOMC statement, which states the new target range for the federal funds rate. Between meetings, inflation and jobs data move these prices, and so do speeches by Fed officials.
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A price here is a probability: 62¢ means the market puts the outcome at roughly 62%. The guide to paper trading Fed Rates markets walks through reading one, taking a side and checking the result. If you came from a real book, there is a shorter version on practising with Polymarket’s odds, and a comparison of the free prediction market simulators if you are still choosing one.
Everything below trades with simulated money. When you want a scoreboard, run a game against your own group over the same Fed Rates questions, or browse every market in the catalog.
Every question below is a live market you can trade with simulated money.