{
  "$schema": "https://clearmarket.fyi/schema/signal/v1.json",
  "record_id": "CMSIG2026110101",
  "record_slug": "fed-funds-upper-bound-at-4-0-4-25-kalshi-ladder-2026-11-01",
  "schema_version": "v0.2.0",
  "provenance_version": "0.2.0",
  "published_at": "2026-11-01T00:00:00.000Z",
  "semantic_title": "Fed funds upper bound seen near 4 percent after jobs data",
  "telemetry": "Kalshi ladder",
  "headline": "Fed funds upper bound at 4.0-4.25%: Kalshi ladder",
  "category_tag": "MOMENTUM_REPRICING",
  "secondary_tags": [],
  "detection_path": "news_cycle",
  "pre_news_classification": "concurrent",
  "status": {
    "state": "live",
    "as_of": "2026-11-04",
    "outcome": null,
    "outcome_basis": null,
    "final_price": null,
    "resolved_at": null
  },
  "target_event_id": "CM-EVT-MR57HVWJT3",
  "target_event_slug": "kxfed-26dec",
  "event_question": "Fed funds upper bound following next meeting",
  "linked_event_ids": [],
  "primary_market": {
    "platform": "kalshi",
    "platform_market_id": "KXFED-26DEC-T4.25",
    "question_raw": "Will the upper bound of the federal funds rate be above 4.25% following the Fed's Dec 9, 2026 meeting?",
    "current_price": 0.03,
    "volume_24h_usd": 132.6,
    "arbitration_model": "kalshi_staff",
    "resolution_source": "Federal Reserve Board of Governors",
    "resolves_at": "2026-12-16T19:05:00Z"
  },
  "related_markets": [],
  "bullets": [
    "Kalshi ladder prices the Fed funds upper bound in the 4.0-4.25% range: 73% above 4.0%, but only 3% above 4.25%.",
    "Bloomberg reports a jobs pickup may keep the Fed on track to hike; the Kalshi distribution is consistent with one more hike being the modal outcome.",
    "The sharp drop from 73% to 3% between the 4.0% and 4.25% strikes signals the market sees the 4.0-4.25% band as a ceiling, not a floor.",
    "Chartstopper data (Story 8) separately notes December hike odds at 75%, closely aligned with the Kalshi ladder's implied range."
  ],
  "atomic_claims": [
    {
      "type": "news_event",
      "field_provenance": {
        "story": {
          "tier": "mediated",
          "method": "exa_search",
          "source": "Matthew Boesler, Craig Stirling",
          "source_url": "https://www.bloomberg.com/news/articles/2026-10-31/us-jobs-pickup-may-keep-fed-on-track-to-hike-rates-again",
          "retrieved_at": "2026-11-02T17:44:20+00:00"
        }
      },
      "significance": {
        "threshold": 5,
        "threshold_unit": "rank",
        "passed": true,
        "reason": "surfaced in the daily Exa news-cycle scan; mechanically matched to an active kalshi market"
      },
      "story": "A stronger-than-expected US jobs pickup is raising expectations the Fed will hike rates again, with the December decision now in focus.",
      "publisher": "Matthew Boesler, Craig Stirling",
      "published_at": "2026-11-01T00:00:00.000Z",
      "source_url": "https://www.bloomberg.com/news/articles/2026-10-31/us-jobs-pickup-may-keep-fed-on-track-to-hike-rates-again"
    },
    {
      "type": "pm_response",
      "field_provenance": {
        "notes": {
          "tier": "editorial",
          "method": "llm_judge_cm_signal_v1"
        }
      },
      "notes": "Kalshi ladder resolves via the Fed's official policy announcement; the 4.0-4.25% range is the market's dominant scenario."
    }
  ],
  "sources": [
    {
      "label": "Matthew Boesler, Craig Stirling: US Jobs Pickup May Keep Fed on Track to Hike Rates Again",
      "url": "https://www.bloomberg.com/news/articles/2026-10-31/us-jobs-pickup-may-keep-fed-on-track-to-hike-rates-again",
      "published_at": "2026-11-01T00:00:00.000Z",
      "retrieved_at": "2026-11-02T17:44:20+00:00"
    }
  ],
  "field_provenance": {
    "pm_data": "kalshi_api",
    "news_context": "exa_search",
    "editorial_judgment": "cm_signal_llm_judge"
  },
  "canonical_urls": {
    "html": "https://clearmarket.fyi/signals/fed-funds-upper-bound-at-4-0-4-25-kalshi-ladder-2026-11-01/",
    "json": "https://clearmarket.fyi/signals/fed-funds-upper-bound-at-4-0-4-25-kalshi-ladder-2026-11-01.json"
  },
  "license": "https://creativecommons.org/licenses/by/4.0/",
  "_provenance_registry": {
    "direct": "Unaltered extraction from primary venue/source API (e.g., polymarket_clob_api, kalshi_api, BLS, FRED). Highest trust tier.",
    "mediated": "Information fetched via grounded agentic retrieval (e.g., perplexity_grounded). MUST carry source_url to the underlying primary source.",
    "derived": "Algorithmic computation from listed inputs. Chain only as fresh as the oldest input timestamp (see as_of).",
    "editorial": "Interpretive classification produced by a versioned LLM prompt template (prompts auditable in github.com/JDSource/clearmarket/prompts)."
  },
  "_provenance_canonical": "https://clearmarket.fyi/schema/provenance/v1"
}