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Markets bet on whether Trump will impose new tariffs in November

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Kalshi has reported 9,547 in volume over the last 24 hours on their market for “Will Trump impose new tariffs in November?”, making it one of the hottest markets on the platform today.

The market currently is implying a 4% chance for "Yes", which is neutral from yesterday, when the market implied a 4% probability.

If the President of the United States has imposed any new (or increased) tariffs in November 2025, then the market resolves to Yes.

In total, this market has seen a volume of 145,076 transactions since it was first opened on November 01, 2025. There are 50,885 positions of open interest in this market, and the overall liquidity is sitting at 2,083,324 contracts.

Based on Quiver’s tracking, here are 10 of the finance and politics markets that have had the most volume on Kalshi over the last 24 hours:

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