Traders push back on the fed funds rate staying above 3.75%

Name: Traders push back on the fed funds rate staying above 3.75%
Creator: ClearMarket
Published: 2026-07-22T10:22:39+00:00
License: https://creativecommons.org/licenses/by/4.0/

15% · $44K 24h

record: CMSIG20260722VS02 | category: volume-spike | target: CM-EVT-PHWX2H6DM5 | published: 2026-07-22

4-bullet brief | narrative

Kalshi puts the odds of the upper bound remaining above 3.75% at just 15%, cuts are the base case.
24h volume of $44K is 29% of all-time, the largest single-day print on this longer-horizon contract.
Fresh activity ahead of the July FOMC meeting suggests traders are repricing the easing path lower.
Resolves on the Fed's published upper-bound target following the relevant policy decision.

atomic briefs | structured for retrieval

[01] volume_anomaly

liquidity kalshi_vol_24h: $44.0K

evaluation

The model, prompt version, and confidence behind this wire are published below — so you can see how it was judged, and re-check it yourself.

judge_engine: llm_judge_cm_signal_v1
judge_verdict: wire_eligible
judge_confidence: 0.81 / 1.00
prompt_template: volume_spike_v1 github · auditable

citation graph

Every wire traces back to the ClearMarket event it is built on, and out to each venue’s own market page — so any figure here can be verified at its source.

internal

cm_event: /events/kxfed-26jul/

external

venue_a: https://kalshi.com/markets/KXFED-26JUL-T3.75

programmatic access · four surfaces, same payload

AI grounded search reads embedded JSON-LD in HTML. Developers query REST. Agentic AI clients (Claude Desktop, Cursor) call MCP tools. AI crawlers index via /llms.txt. Same canonical record at every surface.

HTML	browsers, AI grounded search, crawlers (contains embedded JSON-LD `@type: Dataset`)	`https://clearmarket.fyi/signals/will-the-upper-bound-of-the-federal-fund-vol-43972/`
JSON	REST API for developers	`https://clearmarket.fyi/signals/will-the-upper-bound-of-the-federal-fund-vol-43972.json`
MCP	agentic AI tool call (Claude Desktop, Cursor, Continue)	`clearmarket.get_signal("will-the-upper-bound-of-the-federal-fund-vol-43972")`
AGENT	AI crawler discovery index	`/llms.txt`

 PM data: platform APIs (hourly refresh). News context: retrieved with source citations. Editorial judgment: LLM judge with prompt template versioned per wire type. Per-claim provenance inline above; full per-field provenance map at the JSON endpoint under field_provenance.
  raw JSON record · same payload returned by REST endpoint
 {
  "$schema": "https://clearmarket.fyi/schema/signal/v1.json",
  "provenance_version": "0.2.0",
  "record_id": "CMSIG20260722VS02",
  "published_at": "2026-07-22T10:22:39+00:00",
  "detection": "volume_spike",
  "category_tag": "VOLUME_SPIKE",
  "secondary_tags": [],
  "pre_news_classification": "pre_news",
  "target_event_id": "CM-EVT-PHWX2H6DM5",
  "target_event_slug": "kxfed-26jul",
  "event_question": "Federal funds rate upper bound, July 2026 meeting",
  "bullets": [
    "Kalshi puts the odds of the upper bound remaining above 3.75% at just 15%, cuts are the base case.",
    "24h volume of $44K is 29% of all-time, the largest single-day print on this longer-horizon contract.",
    "Fresh activity ahead of the July FOMC meeting suggests traders are repricing the easing path lower.",
    "Resolves on the Fed's published upper-bound target following the relevant policy decision."
  ],
  "atomic_claims": [
    {
      "type": "volume_anomaly",
      "provenance": "24h + cumulative volume direct from kalshi API; intensity = 24h/cumulative (derived)",
      "field_provenance": {
        "volume_24h_usd": {
          "tier": "direct",
          "method": "kalshi_api"
        },
        "intensity": {
          "tier": "derived",
          "method": "arithmetic",
          "inputs": [
            "volume_24h_usd",
            "volume_cumulative_usd"
          ]
        }
      },
      "liquidity_context": {
        "kalshi_vol_24h_usd": 43972.99
      }
    }
  ],
  "evaluation": {
    "judge_engine": "llm_judge_cm_signal_v1",
    "judge_verdict": "wire_eligible",
    "judge_confidence": 0.81,
    "prompt_template": "volume_spike_v1"
  },
  "citations": {
    "internal": {
      "cm_event": "/events/kxfed-26jul/",
      "related": []
    },
    "external": {
      "venue_a": "https://kalshi.com/markets/KXFED-26JUL-T3.75",
      "venue_b": null,
      "benchmark": null
    }
  },
  "sources": [
    {
      "label": "ClearMarket market record: Federal funds rate upper bound, July 2026 meeting",
      "url": "https://clearmarket.fyi/events/kxfed-26jul",
      "retrieved_at": "2026-07-22T10:22:39+00:00"
    }
  ],
  "field_provenance": {
    "pm_data": "kalshi_api",
    "news_context": "retrieval_grounded",
    "editorial_judgment": "cm_signal_llm_judge"
  }
}
 
   PROVENANCE PROTOCOL v0.2 · [direct] venue api · [mediated] grounded web fetch + source url · [derived] computed from listed inputs · [editorial] versioned llm judgment · full spec /schema/provenance/v1

record CMSIG20260722VS02 published 2026-07-22T10:22:39+00:00 signature sha256-0c05bcd963f… ← underlying event all signals →