The Federal Open Market Committee (FOMC), the policy-making arm of the U.S. Federal Reserve, will convene for its next meeting on Oct. 28 and wrap up on Oct. 29. The gathering is drawing close attention from global investors, economists, and central banks for potential rate cuts.

Ahead of the meeting, decentralized prediction platform Polymarket traders are betting a 98% chance that the Federal Reserve will lower its benchmark interest rate by 25 basis points during the meeting.

Polymarket’s bet “Fed decision in October?” showed traders pricing in a 98% likelihood of a 25 bps cut. 1% was betting on an over 50 bps rate cut while the rest 1% bet on not seeing any change.

The prediction market was launched in 2020 and runs on blockchain infrastructure, aggregating real-money bets from thousands of participants to forecast real-world events.

Fed rate cuts could trigger cash flood into yield-bearing stablecoins

Fed's rate cuts might cause a crypto market crash

Bitcoin, XRP flat as jobs report comes lower than expected

Polymarket users have sometimes accurately forecasted Federal Reserve decisions. Ahead of the Sept. 17 meeting, traders on the platform had assigned a 91% chance that the Fed would cut interest rates by 25 basis points, a prediction that proved entirely correct.

On Sept. 17, the central bank confirmed the widely anticipated 25 bps reduction, marking a shift in monetary policy that initially lifted major cryptocurrencies like Bitcoin (BTC), Ether (ETH), and XRP before their prices later pulled back.

Related: Explained: Types of Bitcoin mining

At the time of writing, Bitcoin was hovering near zero, at 0.1%, trading at $115,406 after briefly touching $116,000 mark. Ethereum was down by 1.9% to change hands at  $4,133.61 while XRP and Solana both dipped by 1.3% to trade at $2.65 and $200.05, respectively.

This story was originally reported by TheStreet on Oct 28, 2025, where it first appeared in the Federal Reserve & FOMC News section. Add TheStreet as a Preferred Source by clicking here.

The Federal Open Market Committee (FOMC), the policy-making arm of the U.S. Federal Reserve, will convene for its next meeting on Oct. 28 and wrap up on Oct. 29. The gathering is drawing close attention from global investors, economists, and central banks for potential rate cuts.

Ahead of the meeting, decentralized prediction platform Polymarket traders are betting a 98% chance that the Federal Reserve will lower its benchmark interest rate by 25 basis points during the meeting.

Polymarket’s bet “Fed decision in October?” showed traders pricing in a 98% likelihood of a 25 bps cut. 1% was betting on an over 50 bps rate cut while the rest 1% bet on not seeing any change.

The prediction market was launched in 2020 and runs on blockchain infrastructure, aggregating real-money bets from thousands of participants to forecast real-world events.

Fed rate cuts could trigger cash flood into yield-bearing stablecoins

Fed's rate cuts might cause a crypto market crash

Bitcoin, XRP flat as jobs report comes lower than expected

Polymarket users have sometimes accurately forecasted Federal Reserve decisions. Ahead of the Sept. 17 meeting, traders on the platform had assigned a 91% chance that the Fed would cut interest rates by 25 basis points, a prediction that proved entirely correct.

On Sept. 17, the central bank confirmed the widely anticipated 25 bps reduction, marking a shift in monetary policy that initially lifted major cryptocurrencies like Bitcoin (BTC), Ether (ETH), and XRP before their prices later pulled back.

Related: Explained: Types of Bitcoin mining

At the time of writing, Bitcoin was hovering near zero, at 0.1%, trading at $115,406 after briefly touching $116,000 mark. Ethereum was down by 1.9% to change hands at  $4,133.61 while XRP and Solana both dipped by 1.3% to trade at $2.65 and $200.05, respectively.

This story was originally reported by TheStreet on Oct 28, 2025, where it first appeared in the Federal Reserve & FOMC News section. Add TheStreet as a Preferred Source by clicking here.