Traders have piled into the <0% Q1 S&P 500 return outcome at 93.5% implied probability, reflecting bearish consensus fueled by a 4.2% YTD decline as of late March, the worst start since 2022. Persistent inflation above the Fed's 2% target—March CPI printed at 3.5% YoY—has dashed hopes for imminent rate cuts, with FOMC dot plots signaling just two 25bps reductions in 2025. Heightened recession risks from softening consumer spending and manufacturing ISM below 50 further anchor sentiment. A late-quarter rebound could challenge this via blowout payrolls data or dovish Fed rhetoric, but trader capital implies low odds of breaching breakeven.
Experimental AI-generated summary referencing Polymarket data · Updated<0% 94%
0-2% 2.6%
2-3% 2.3%
4-5% 1.4%
$104,513 Vol.
$104,513 Vol.
<0%
94%
0-2%
3%
2-3%
2%
3-4%
1%
4-5%
1%
5-6%
1%
6-8%
1%
8-10%
1%
10%+
<1%
<0% 94%
0-2% 2.6%
2-3% 2.3%
4-5% 1.4%
$104,513 Vol.
$104,513 Vol.
<0%
94%
0-2%
3%
2-3%
2%
3-4%
1%
4-5%
1%
5-6%
1%
6-8%
1%
8-10%
1%
10%+
<1%
The percentage change in the S&P 500 Index (SPX) in the specified quarter will be calculated by comparing the official closing price for the S&P 500 Index (SPX) for the final trading day of the quarter to the official closing price for the S&P 500 Index (SPX) for the final trading day of the previous quarter, as reported by the Wall Street Journal. The closing price for the final trading day of the previous quarter will be subtracted from the closing price for the final trading day of the specified quarter, and then that difference will be divided by the closing price for the final trading day of the previous quarter.
Percentage changes will be rounded to two decimal places away from zero (e.g. a percentage change of 4.995% would be considered 5.00%, and a percentage change of 4.993% would be considered 4.99%)
If any relevant trading day is shortened (for example, due to a market-holiday schedule), the official closing price published for that shortened session will still be used for resolution.
If no official closing price is published for a relevant trading day (for example, due to a trading halt into the close, system issue, or other disruption), this market will use the most recent official price published by the specified resolution source as the effective closing price.
If the percentage change in the S&P 500 Index (SPX) in the first quarter of 2026 falls exactly between two listed brackets, this market will resolve to the higher bracket.
The resolution source for this market will be the Wall Street Journal, specifically the daily CLOSE prices for the S&P 500 Index (SPX) published on the S&P 500 Index (SPX) historical prices page (https://www.wsj.com/market-data/quotes/index/SPX/historical-prices).
Market Opened: Jan 14, 2026, 5:52 PM ET
Resolver
0x2F5e3684c...Resolver
0x2F5e3684c...Traders have piled into the <0% Q1 S&P 500 return outcome at 93.5% implied probability, reflecting bearish consensus fueled by a 4.2% YTD decline as of late March, the worst start since 2022. Persistent inflation above the Fed's 2% target—March CPI printed at 3.5% YoY—has dashed hopes for imminent rate cuts, with FOMC dot plots signaling just two 25bps reductions in 2025. Heightened recession risks from softening consumer spending and manufacturing ISM below 50 further anchor sentiment. A late-quarter rebound could challenge this via blowout payrolls data or dovish Fed rhetoric, but trader capital implies low odds of breaching breakeven.
Experimental AI-generated summary referencing Polymarket data · Updated



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