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Markets bet on whether the U.S. will impose tariffs in late 2025

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Kalshi has reported 69,205 in volume over the last 24 hours on their market for “Will the U.S. impose tariffs on any sector from any country or countries in Nov 2025-Nov 2025?”, making it one of the hottest markets on the platform today.

The market currently is implying a 1% chance for "Before 2026", which is neutral from yesterday, when the market implied a 1% probability.

If the President of the United States has imposed any new (or increased) tariffs in Nov 1, 2025 to Dec 31, 2025, then the market resolves to Yes.

In total, this market has seen a volume of 217,369 transactions since it was first opened on November 24, 2025. There are 96,738 positions of open interest in this market, and the overall liquidity is sitting at 687,075 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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