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Markets bet on whether Trump will impose tariffs in the first 48 hours

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Kalshi has reported 21,634 in volume over the last 24 hours on their market for “Will Trump impose tariffs in the first 48 hours?”, making it one of the hottest markets on the platform today.

The market currently is implying a 31% chance for "Canada", which is neutral from yesterday, when the market implied a 31% probability.

If Canada imposes new tariffs (or raises tariff) on the United States after issuance but before Jan 1, 2026, then the market resolves to Yes.

In total, this market has seen a volume of 23,790 transactions since it was first opened on July 17, 2025. There are 2,328 positions of open interest in this market, and the overall liquidity is sitting at 2,570,523 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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