Crypto News Today: Rate-Cut Odds Hit 87% on Polymarket as Crypto Stocks Surge to Weekly Highs

Prediction-market traders are increasingly betting that the Federal Reserve will cut interest rates in December, sending crypto-linked equities sharply higher as rate-cut odds reached their highest level of the month.Data from Polymarket on Friday showed an 87% probability of a December rate cut — a dramatic swing from earlier in November — helping push several crypto-exposed stocks into strong weekly gains.Crypto Mining Stocks Lead the Rally as Rate-Cut Bets SpikeThree major U.S.-listed Bitcoin miners logged notable strength:CleansparkRiot PlatformsCipher MiningEach rose during Friday’s session and posted double-digit gains over the last five days, lifted by expectations of looser monetary policy.Other crypto-related equities also moved higher.Circle, the issuer of USDC, climbed nearly 10% in early trading.Strategy (MicroStrategy) and Coinbase both saw moderate gains.Bitcoin itself continued recovering, trading around $90,600, roughly 7% higher on the week after briefly dipping near $82,000 on Nov. 21, according to CoinGecko.Why Rate-Cut Odds Shifted: Hawkish, Then Suddenly Dovish Fed SignalsThis month’s volatility in rate-cut pricing stems largely from inconsistent Federal Reserve commentary.Powell’s Hawkish Pushback — Odds CollapseOn Oct. 29, Fed Chair Jerome Powell warned that a December cut was “not a foregone conclusion.”Markets interpreted the statement as hawkish, causing Polymarket odds to:Fall from 89% the prior dayTo just 22% by Nov. 20Waller’s Comments Reverse SentimentThe mood shifted quickly after Fed Governor Christopher Waller said on Nov. 17 that:The labor market is “near stall speed”Inflation is “relatively close” to the 2% targetThe Fed “should consider cutting rates” next monthThat dovish outlook helped push Polymarket’s December rate-cut odds to 87%, the highest level this month.Prediction Markets See Breakout Year as Adoption AcceleratesPlatforms such as Polymarket and Kalshi — which let users bet on real-world events — are expanding rapidly as interest surges.Major Partnerships and Funding DealsNov. 13: Polymarket signed a multi-year partnership with TKO Group Holdings, becoming the official prediction-market partner of the UFC and Zuffa Boxing.Polymarket also partnered with fantasy-sports operator PrizePicks.Kalshi raised $1 billion from Sequoia Capital and CapitalG, boosting its valuation to $11 billion, following a $300 million round in October.Is Coinbase Entering the Prediction-Market Space?On Nov. 19, tech researcher Jane Manchun Wong discovered evidence that Coinbase is developing its own prediction-market product through Coinbase Financial Markets, apparently backed by Kalshi, according to cointelegraph.Robinhood’s Rapid GrowthOn Wednesday, Robinhood reported that prediction markets have already become one of its fastest-growing revenue segments:1+ million users9 billion contracts tradedAll since launching the product in March in partnership with Kalshi