Name: How much revenue will the U.S. raise from tariffs in 2025?
Start: 2025-04-15T22:26:33.717413Z
End: 2026-02-28T12:00:00Z

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The U.S. government collected $82.2b in customs duties in FY 2025 (See: https://www.fiscal.treasury.gov/files/reports-statements/financial-report/2024/notes-to-the-financial-statements19.pdf).

This market will resolve according to the value of costumes duties collected in FY 2025 according to the Financial Report of the United States Government published by the Treasury Department for FY 2025 (See: https://www.fiscal.treasury.gov/reports-statements/financial-report/)

If the Treasury Department does not publish relevant data for FY 2025 by February 28, 2026, 11:59 PM ET, this market will resolve to the lowest bracket. 

The resolution source will be the Treasury Department.


The U.S. government collected $82.2b in customs duties in FY 2025 (See: https://www.fiscal.treasury.gov/files/reports-statements/financial-report/2024/notes-to-the-financial-statements19.pdf).

This market will resolve according to the value of customs duties collected in FY 2025 according to the Financial Report of the United States Government published by the Treasury Department for FY 2025 (See: https://www.fiscal.treasury.gov/reports-statements/financial-report/)

If the Treasury Department does not publish relevant data for FY 2025 by February 28, 2026, 11:59 PM ET, this market will resolve to the lowest bracket. 

The resolution source will be the Treasury Department.

<$100b

$100–200b

$200–500b

$500b–1t

$1–2t

$2t+

How much revenue will the U.S. raise from tariffs in 2025?

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The U.S. government collected $82.2b in customs duties in FY 2025 (See: https://www.fiscal.treasury.gov/files/reports-statements/financial-report/2024/notes-to-the-financial-statements19.pdf).

This market will resolve to "Yes"  if the value of costumes duties collected in FY 2025 according to the Financial Report of the United States Government published by the Treasury Department for FY 2025 (See: https://www.fiscal.treasury.gov/reports-statements/financial-report/) is greater than $250b. Otherwise this market will resolve to "No". 

If the Treasury Department does not publish relevant data  for FY 2025 by February 28, 2026, 11:59 PM ET, this market will resolve to "No". 

The resolution source will be the Treasury Department.


Will tariffs generate >$250b in 2025?

On May 28, 2025, the U.S. Court of International Trade ruled that Donald Trump exceeded his authority under the International Emergency Economic Powers Act (IEEPA) by imposing a series of broad tariffs. The ruling blocked several major measures, including the “Liberation Day” tariffs—a 10% tariff on all imports and country-specific rates of up to 50%—as well as additional tariffs targeting Canadian, Mexican, and Chinese goods. The Trump administration has filed a single consolidated appeal of this decision, titled V.O.S. Selections, Inc. v. United States.

This market will resolve to “Yes” if, by June 30, 2026, 11:59 PM ET, both of the following occur:

1. The Trump administration’s appeal in V.O.S. Selections, Inc. v. United States is denied, in whole or in part

2. U.S. importers receive refunds of at least some tariffs invalidated by the May 28, 2025 ruling, where such refunds occur as a consequence of the denial, in whole or in part, of the Trump administration’s appeal.

Otherwise, this market will resolve to "No".

Announcements, court orders, or plans to issue refunds will not be sufficient for resolution unless actual refunds are issued within the market timeframe.

For purposes of this market, a “refund” includes direct payments, credits, or offsets issued to importers by U.S. Customs and Border Protection or the U.S. Treasury reflecting repayment of previously collected tariffs.

If the appeal is fully upheld and no refunds are issued, this market will resolve to “No”.

The primary resolution source will be official government or court information, or a consensus of credible reporting.

Will the Court Force Trump to Refund Tariffs?

This market will resolve to "Yes" if the Trump Administration formally creates (e.g., by signing federal legislation or performing executive action) a tariff dividend/rebate by June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

Any bill signed into law or executive action taken within this market's time frame will qualify, regardless of when the law or action goes into effect.

A qualifying payment of any amount distributed to any segment of individual US taxpayers will qualify as long as it is clearly attributed primarily to tariff revenue rather than a routine tax refund or credit.

The resolution source will be a consensus of credible reporting.

Will Trump create a tariff dividend by June 30?

This market will resolve based on federal government current expenditures as reported by the St. Louis Federal Reserve Bank, displayed here (https://fred.stlouisfed.org/series/FGEXPND).

This market will resolve to the amount federal government current expenditures decrease by between the Q4 2024 report and the Q4 2025 report. 

If the reported value falls exactly between two brackets, then this market will resolve to the higher range bracket.

The difference will be calculated as the Q4 2024 value minus the Q4 2025 value. 

The figures will be based on the initial Q4 2024 and Q4 2025 values as reported by the St. Louis Federal Reserve Bank. Revisions made to these figures will not be considered, only the values reported in the initial reports will be used. 

The figures will be based on the Q4 2024 and Q4 2025 values as reported by the St. Louis Federal Reserve Bank as soon as the data for Q4 2025 becomes available, regardless of whether later revisions are made.

This market's resolution source is the Federal Government: Current Expenditures chart maintained by the St. Louis Federal Reserve Bank, displayed here (https://fred.stlouisfed.org/series/FGEXPND).

Will Elon and DOGE cut less than $50b in federal spending in 2025?

This market will resolve to "Yes" if the Supreme Court of the United States issues a decision that reverses, vacates, or otherwise overturns the U.S. Court of Appeals for the Federal Circuit’s August 29, 2025 decision in V.O.S. Selections, Inc. v. Trump, in which the Federal Circuit held that the tariffs imposed by Executive Orders 14193, 14194, 14195, 14257, and 14266 exceeded the President’s authority under the International Emergency Economic Powers Act (IEEPA) by December 2026, 11:59 PM ET. Otherwise this market will resolve to "No." 

If the Supreme Court dismisses the case as improvidently granted, denies certiorari, grants/vacates/remands without deciding the merits of IEEPA authorization, affirms by an equally divided Court, or vacates due to mootness, or if the parties settle the case this market will resolve to "No." 

For purposes of this market, the government prevails if the Supreme Court rules on the merits that the tariffs are authorized under IEEPA, or otherwise reverses or vacates the Federal Circuit’s holding that they are unauthorized under IEEPA, regardless of whether the Court remands for further proceedings on issues such as remedy or scope of relief. The government does not prevail if the Supreme Court affirms the Federal Circuit’s decision that the tariffs are unauthorized by IEEPA, even if the Court modifies or vacates portions of the judgment relating only to remedy or injunctive relief.

The resolution source will be a consensus of credible reporting. 


Supreme Court rules in favor of Trump's tariffs?

In Q4 2024, government expenditures were $7,106,807,000,000 (see https://fred.stlouisfed.org/series/FGEXPND). 

This market will resolve to “Yes” if federal government current expenditures decrease by 5% or more between the Q4 2024 report and the Q4 2025 report. Otherwise, it will resolve to "No".

Any 2025 quarterly report of $6,751,467,000,000 or less will qualify for a “Yes” resolution.

Revisions made to these figures will not be considered, only the values reported in the initial reports will be used.

This market's resolution source is the Federal Government: Current Expenditures chart maintained by the St. Louis Federal Reserve Bank, displayed here (https://fred.stlouisfed.org/series/FGEXPND).


Will Elon cut the budget by at least 5% in 2025?

In Q4 2024, government expenditures were $7,106,807,000,000 see (https://fred.stlouisfed.org/series/FGEXPND). 

This market will resolve to “Yes” if federal government current expenditures decrease by 10% or more between the Q4 2024 report and the Q4 2025 report. Otherwise, it will resolve to "No".

Any 2025 quarterly report of $6,396,126,000,000 or less will qualify for a “Yes” resolution.

Revisions made to these figures will not be considered, only the values reported in the initial reports will be used.

This market's resolution source is the Federal Government: Current Expenditures chart maintained by the St. Louis Federal Reserve Bank, displayed here (https://fred.stlouisfed.org/series/FGEXPND).

Will Elon cut the budget by at least 10% in 2025?

This market will immediately resolve to "Yes" if the USDT marketcap is equal to or greater than the value specified in the title on any day by December 31, 2026. Otherwise, this market will resolve to "No."

This market will resolve based on CoinGecko's "historical data" section for USDT, currently available at https://www.coingecko.com/en/coins/tether/historical_data#panel respectively, specifically the daily "Market Cap" data.

The daily market cap data for any given date will be considered finalized once data for the following calendar day is published on CoinGecko’s “Historical Data” page.

This market will resolve based on the specified CoinGecko chart, not according to other sources or spot markets.

Will USDT market cap hit $200B before 2027?

During the 2024 FY ICE removed 271,484 non citizens (see: https://www.ice.gov/doclib/eoy/iceAnnualReportFY2024.pdf).

This market will resolve to "Yes" if U.S. Immigration and Customs Enforcement (ICE) removes 750,000 or more non citizens in the 2025 fiscal year. Otherwise, this market ill resolve to "No".

The resolution source will be the FY 2025 ICE Annual Report. If the FY 2025 ICE Annual Report is not published by February 28, 2026, 11:59 PM ET, another credible resolution source will be used. 

Will Trump deport 750,000 or more people in 2025?

This market will immediately resolve to "Yes" if the USDC marketcap is equal to or greater than 50% of USDT marketcap on any day by December 31, 2026. Otherwise, this market will resolve to "No."

This market will resolve based on CoinGecko's "historical data" section for each coin, currently available at https://www.coingecko.com/en/coins/usd-coin/historical_data#panel and https://www.coingecko.com/en/coins/tether/historical_data#panel respectively, specifically the daily "Market Cap" data.

The daily market cap data for any given date will be considered finalized once data for the following calendar day is published on CoinGecko’s “Historical Data” page for both USDC and USDT.

This market will resolve based on the specified CoinGecko chart, not according to other sources or spot markets.

Will USDC hit 50% of USDT market cap by December 31, 2026?

This market will resolve according to the number of Supreme Court Justices who voted in favor of the petitioner (Donald J. Trump) in the case Donald J. Trump, et al., v. V.O.S. Selections, Inc., by December 31, 2026, 11:59 PM ET.

A justice will be considered to have voted in favor of the petitioner if, according to the official Supreme Court ruling, that justice concurred in a judgment that grants some or all relief requested by the petitioner or dissented from a judgment that grants none of the relief requested against the petitioner. Further details are provided below:

A justice must participate in the case and support a position aligned with granting relief to the petitioner to qualify.

If the Supreme Court's final judgment grants some or all relief requested by the petitioner, all justices who joined the majority opinion, wrote or joined concurring opinions, or concurred in the judgment alone will count. A justice who concurred in part and dissented in part will count only if their concurrence includes a vote to grant the petitioner some relief.

If the petitioner loses in the Supreme Court’s final judgment, all justices who dissented from the judgment and whose dissent, if adopted, would have granted some or all of the relief the petitioner sought, will count.

If the Supreme Court affirms the previous ruling in part and reverses the previous ruling in part, any justice whose vote, opinion, or dissent supports any portion of the judgment that grants relief to the petitioner will count.

If no majority opinion exists but a judgment is issued, all justices who concurred in the judgment in favor of the petitioner, regardless of whether they joined the plurality, will count. Justices who concurred in the judgment against the petitioner will not count.

Unless otherwise noted in official information from the Supreme Court, unsigned per curiam opinions will represent all participating justices. If any justices issue a dissent or note non-participation, they will not count.

If an emergency order in favor of the petitioner is the final disposition of the case, all participating justices will be counted excluding dissents and noted non-participation. If an emergency order against the petitioner is the final disposition of the case, all dissenters who would have granted relief to the petitioner will count.

If the case is dismissed as improvidently granted, dismissed for mootness, vacated and remanded without decision, withdrawn or settled, otherwise concluded without a final merits judgment, or there has been no qualifying ruling for this case by December 31, 2026, 11:59 PM ET, this market will resolve to the lowest option, regardless of whether any justices issue separate opinions outside of a final judgment which express support for the petitioner.

Justices who are recused or who do not participate will not count. 

Only the final votes recorded in the Supreme Court’s official slip opinion, summary disposition, or order will count. Leaked drafts, opinions, or other information will not count.

The primary resolution source for this market will be official information from the United States Supreme Court; however, a consensus of credible reporting may also be used.

Will 3 judges rule in favor of Trump's Tarriffs?

This market will resolve to "Yes" if the Treasury 10-year yield reaches or is higher than the listed value for any date between December 9, 2025 and March 31, 2026. Otherwise this market will resolve to "No".

The resolution source for this market is the Department of the Treasury, specially the data listed under "Daily Treasury Par Yield Curve Rates" for the column "10 Yr" (see: https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_yield_curve&field_tdr_date_value=2025).

Will the 10-year treasury yield hit 4.3% by March 31?

This market will resolve to “Yes” if the United States Supreme Court issues an official ruling in the case Donald J. Trump, et al., v. V.O.S. Selections, Inc. by the listed date, 11:59 PM ET. Otherwise, this market will resolve to “No”.

An official ruling on the case is defined as any decision on the merits of the case issued by the Supreme Court, including but not limited to a written opinion, summary disposition, or per curiam opinion.

If the case is dismissed as improvidently granted, dismissed for mootness, vacated and remanded without a decision on the merits, withdrawn or settled, otherwise concluded without a final merits judgment, or there has been no qualifying ruling for this case by the listed date, 11:59 PM ET, this market will resolve to “No”. 

The primary resolution source for this market will be official information from the United States Supreme Court; however, a consensus of credible reporting may also be used.

Will the Supreme Court rule on Trump's tarriff's by January 31?

This market will resolve to "Yes" if at least one cabinet-level Donald Trump appointee from his second term leaves their position by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

Voluntary resignations, removals, retirements, or departures for any reason will count.

Announcements alone will not qualify toward this market's resolution. An individual must actually have left their cabinet-level position.

Temporary or acting officials will not count toward this market's resolution.

The primary resolution source for this market will be official information from the US government, however a consensus of credible reporting will also be used.

Trump cabinet member out by December 31, 2026?

This market will resolve to “Yes” if the upper bound of the target federal funds rate is increased at any point between January 1, 2026 and the Fed's December 2026 meeting, currently scheduled for December 8-9, 2026. Otherwise, this market will resolve to “No”.

This market may not resolve to "No" until the Fed has released its rate change decision following its December meeting.

The primary resolution source for this market will be the official website of the Federal Reserve (https://www.federalreserve.gov/monetarypolicy/openmarket.htm), however a consensus of credible reporting may also be used.

Fed rate hike in 2026?

This market will resolve to "Yes" if the Treasury 10-year yield is lower than the listed value for any date between November 11, 2025 and December 31, 2026. Otherwise this market will resolve to "No".

The resolution source for this market is the Department of the treasury, specially the data listed under "Daily Treasury Par Yield Curve Rates" for the column "10 Yr" (see: https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_yield_curve&field_tdr_date_value=2025).

Will the 10-year Treasury yield dip below 4.0% before 2027?

This market will resolve according to the median home value for all property types in the United States on February 1, 2026.

If the reported value falls exactly between two brackets, then this market will resolve to the higher range bracket.

The resolution source will be official data from the Parcl Labs Sales Price Index for the United States (Parcl_ID: 5826765).  The settlement price will be calculated by multiplying the published price index value (price per square foot) by 2000, which is the median square footage for homes in the US. Parcl is set to publish this data on February 1, 2026. If no data for February 1 is released by February 10, 2026, 11:59PM ET, this market will resolve according to the most recently published data. (see: https://app.parcllabs.com/prediction-market-resolutions/6)


Will the median home value in the US be greater than $418,000 by February 1?

This market will resolve according to China's Y/Y Growth Rate of Gross Domestic Product (GDP) in the "Preliminary Accounting Results of GDP" release for Q4 of 2025, scheduled for some time in January, 2026.

If the reported value falls exactly between two brackets, then this market will resolve to the higher range bracket.

The GDP release will be made available here: https://www.stats.gov.cn/english/PressRelease/

If no data for the specified quarter is released by the date the next quarter's data is scheduled to be released, this market will resolve based on data from the last available month.

Note: data from the initial release of the referenced GDP report is what will be used to resolve this market. Data may be revised during the following quarter or as a part of the next estimate's publication, however any revisions to GDP report data made after the initial release will not be considered for this market's resolution.

Will China GDP growth in Q4 2025 be between 4.5% and 5.0%?

This market will resolve to "Yes" if a U.S government funding lapse occurs on January 31, 2026, 12:00 AM ET. Otherwise, this market will resolve to "No".

A funding lapse is defined as the President failing to sign the relevant bill(s) extending government funding by January 30, 2026, 11:59 PM ET. If a bill extending the funding of the U.S. government is passed and signed by the acting President before January 31, 2026, 12:00 AM ET, this market will resolve to "No".

For this market to resolve to "Yes," any funding lapse will count. If only a portion of the US government is covered by any signed bill(s) extending funding of the US government, and a portion of the US government goes unfunded, this market will still resolve to "Yes".

The primary resolution for this source will be official information from the US government, however a consensus of credible reporting may also be used.

U.S. Government Funding Lapse on January 31?

This market will resolve to 'Yes' if the seasonally adjusted and annualized GDP growth rate for the full year 2025, as derived from the 'Advance Estimate' for Q4 2025, scheduled for release by the U.S. Bureau of Economic Analysis (BEA) on January 30, 2026, reports a growth rate below 0. Otherwise, this market will resolve to 'No'.

The GDP release will be available at: https://www.bea.gov/data/gdp/gross-domestic-product.

Only the first available GDP report labeled as the 'Advance Estimate' for Q4 2025, which provides the initial full-year 2025 GDP growth rate, will be used for resolution. Any subsequent revisions or updates to the data will not be considered.

Negative GDP growth in 2025?

This market will resolve to “Yes” if either of the following conditions is met:

1.  The seasonally adjusted annualized percent change in quarterly U.S. real GDP from the previous quarter is less than 0.0 for two consecutive quarters between Q2 2025 and Q4 2026 (inclusive), as reported by the Bureau of Economic Analysis (BEA). 

2.  The National Bureau of Economic Research (NBER) publicly announces that a recession has occurred in the United States, at any point during 2025 or 2026, with the announcement made by the time the BEA releases the advance estimate for Q4 2026.

Otherwise, this market will resolve to "No". 

Note that advance estimates will be considered. For example, if upon release, the advance estimate for Q3 2025 was negative, and the Q2 2025's most recent, up-to-date estimate was also negative, this market would resolve to "Yes". If on December 31, 2026 the latest estimate for quarterly GDP in Q3 2025 was negative, this market will stay open until the Advance estimate of Q4 2026 is published, at which point it will resolve to "Yes" if Q4 2026 was negative or if the NBER declares a recession by then.

The resolution source will be the official announcements from the NBER and the BEA’s estimate of seasonally adjusted annualized percent change in quarterly US real GDP from previous quarters as released by the Bureau of Economic Analysis (BEA), https://www.bea.gov/data/gdp/gross-domestic-product

US recession by end of 2026?

The FED interest rates are defined in this market by the lower or the upper bound of the target federal funds range. The decisions on the target federal fund range are made by the Federal Open Market Committee (FOMC) meetings.

This market will resolve to “Yes” if the lower or the upper bound of the target federal funds rate reaches the specified level at any point by December 31, 2026, 12:59 PM ET. Otherwise, this market will resolve to “No.”

Emergency rate cuts and hikes outside the regularly scheduled meetings will be considered.

The resolution source for this market is the official website of the Federal Reserve at:
https://www.federalreserve.gov/monetarypolicy/openmarket.htm.

This market may resolve as soon as the relevant data showing the reached level is published.

How much revenue will the U.S. raise from tariffs in 2025?

<$100b
$729,526 Vol.
37%

$100–200b
$770,157 Vol.
26%

$200–500b
$414,823 Vol.
36%

$500b–1t
$310,730 Vol.
2%

$1–2t
$195,194 Vol.
<1%

$2t+
$186,336 Vol.
1%

Market Context

How much revenue will the U.S. raise from tariffs in 2025?

Rules

How much revenue will the U.S. raise from tariffs in 2025?

Market Context

How much revenue will the U.S. raise from tariffs in 2025?

About

Related

How much revenue will the U.S. raise from tariffs in 2025?

<$100b$729,526 Vol.37%buy Yes37.4¢buy No62.8¢

$100–200b$770,157 Vol.26%buy Yes27¢buy No75¢

$200–500b$414,823 Vol.36%buy Yes37¢buy No66¢

$500b–1t$310,730 Vol.2%buy Yes2.0¢buy No98.4¢

$1–2t$195,194 Vol.<1%buy Yes0.4¢buy No99.9¢

$2t+$186,336 Vol.1%buy Yes0.7¢buy No99.6¢

Market Context

How much revenue will the U.S. raise from tariffs in 2025?

Rules

How much revenue will the U.S. raise from tariffs in 2025?

Market Context

How much revenue will the U.S. raise from tariffs in 2025?

About

Related

<$100b
$729,526 Vol.
37%

$100–200b
$770,157 Vol.
26%

$200–500b
$414,823 Vol.
36%

$500b–1t
$310,730 Vol.
2%

$1–2t
$195,194 Vol.
<1%

$2t+
$186,336 Vol.
1%