Name: When will the next recession happen in the US?
Start: 2022-01-12T00:00:00Z
End: 2022-01-27T00:00:00Z

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This is a market group on when the next U.S. recession (defined as a negative change in quarterly U.S. real GDP) will occur.

This market will resolve to “Yes”, if the seasonally adjusted annualized percent change in quarterly U.S. real GDP from the previous quarter is less than 0.0 in Q4 2021, as reported by the Bureau of Economic Analysis (BEA). Otherwise, it will resolve to “No”.

The resolution source for this market is 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

This market will resolve as soon as the data for Q4 2021 are released, scheduled for January 27 2022, 8:30 AM ET.
Please note, that the data in the earliest Gross Domestic Produce report is labelled by BEA as “Advance Estimate” and will be considered to resolve this market. The data 
might be revisioned during the following quarter in the next estimates however, any revisions to the data made after the release of the Advance Estimate will not be considered for this market.

By Q4 2021?

This market will resolve to “Yes”, if the seasonally adjusted annualized percent change in quarterly U.S. real GDP from the previous quarter is less than 0.0 in Q4 2021 or Q1 2022, as reported by the Bureau of Economic Analysis (BEA). Otherwise, it will resolve to “No”.

The resolution source for this market is 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

This market will resolve as soon as the conditions above are satisfied, or when the data for Q1 2022 is released.
Please note, that the data in the earliest Gross Domestic Produce report is labelled by BEA as “Advance Estimate” and will be considered to resolve this market. The data might be revisioned during the following quarter in next estimates however, any revisions to the data made after the release of the Advance Estimate will not be considered for this market.

By Q1 2022?

This market will resolve to “Yes”, if the seasonally adjusted annualized percent change in quarterly U.S. real GDP from the previous quarter is less than 0.0 in at least one quarter between Q4 2021 and Q2 2022 (inclusive), as reported by the Bureau of Economic Analysis (BEA). Otherwise, it will resolve to “No”.

The resolution source for this market is 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
This market will resolve as soon as the conditions above are satisfied for any of the quarters in the range, or when the data for Q2 2022 is released.

Please note, that the data in the earliest Gross Domestic Produce report is labelled by BEA as “Advance Estimate” and will be considered to resolve this market. The data might be revisioned during the following quarter in next estimates however, any revisions to the data made after the release of the Advance Estimate will not be considered for this market.

By Q2 2022?

This market will resolve to “Yes”, if the seasonally adjusted annualized percent change in quarterly U.S. real GDP from the previous quarter is less than 0.0 in at least one quarter between Q4 2021 and Q3 2022 (inclusive), as reported by the Bureau of Economic Analysis (BEA). Otherwise, it will resolve to “No”.

The resolution source for this market is 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
This market will resolve as soon as the conditions above are satisfied for any of the quarters in the range, or when the data for Q3 2022 is released.

Please note, that the data in the earliest Gross Domestic Produce report is labelled by BEA as “Advance Estimate” and will be considered to resolve this market. The data might be revisioned during the following quarter in next estimates however, any revisions to the data made after the release of the Advance Estimate will not be considered for this market.

By Q3 2022?

This market will resolve to “Yes”, if the seasonally adjusted annualized percent change in quarterly U.S. real GDP from the previous quarter is less than 0.0 in at least one quarter between Q4 2021 and Q4 2022 (inclusive), as reported by the Bureau of Economic Analysis (BEA). Otherwise, it will resolve to “No”.

The resolution source for this market is 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
This market will resolve as soon as the conditions above are satisfied for any of the quarters in the range, or when the data for Q4 2022 is released.

Please note, that the data in the earliest Gross Domestic Produce report is labelled by BEA as “Advance Estimate” and will be considered to resolve this market. The data might be revisioned during the following quarter in next estimates however, any revisions to the data made after the release of the Advance Estimate will not be considered for this market.

By Q4 2022?

When will the next recession happen in the US?

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?

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

1.  The National Bureau of Economic Research (NBER) publicly announces that a recession has occurred in the United States, at any point in 2025, with the announcement made by December 31, 2025, 11:59 PM ET.

2.  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 Q4 2024 and Q4 2025 (inclusive), as reported by the Bureau of Economic Analysis (BEA). 

Otherwise, this market will resolve to "No". 

Note that advance estimates will be considered. For example, if upon release, the advance estimate for Q2 2025 was negative, and the Q1 2025's most recent, up-to-date estimate was also negative, this market would resolve to "Yes". If on December 31, 2025 the latest estimate for quarterly GDP in Q3 2025 was negative, this market will stay open until the Advance estimate of Q4 2025 is published, at which point it will resolve to "Yes" if Q4 2025 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 in 2025?

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

1.  The C.D. Howe Institute’s Business Cycle Council publicly announces that a recession has occurred in Canada, at any point before 2027, with the announcement made by December 31, 2026, 11:59 PM ET.

2.  The seasonally adjusted annualized percent change in quarterly Canadian Real GDP (expenditure-based), chained (2017) dollars GDP from the previous quarter is less than 0.0 for two consecutive quarters between Q4 2025 and Q4 2026 (inclusive), as reported by Statistics Canada (StatCan).

Otherwise, this market will resolve to "No".

Note that any two consecutive, concurrent vintages indicating negative GDP growth will qualify, regardless of prior or later revisions. For example, if upon release, the initial estimate for Q2 2026 was negative, and Q1 2026'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 2026 was negative, this market will stay open until Statistics Canada publishes the initial estimate for Q4 2026, at which point it will resolve to "Yes" if Q4 2026 was negative or if the C.D. Howe Institute’s Business Cycle Council declares a recession by then.

The resolution source will be the official announcements from the C.D. Howe Institute’s Business Cycle Council and Statistics Canada’s estimate of seasonally adjusted annualized percent change in quarterly Canadian real GDP from previous quarters as released by Statistics Canada (e.g., as reported in the line “Gross domestic product at market prices” in Table 3 of the quarterly GDP release: https://www150.statcan.gc.ca/n1/daily-quotidien/250829/t003a-eng.htm)

Canada recession before 2027?

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

1.  The C.D. Howe Institute’s Business Cycle Council publicly announces that a recession has occurred in Canada, at any point in 2025, with the announcement made by December 31, 2025, 11:59 PM ET.

2.  The seasonally adjusted annualized percent change in quarterly Canadian Real GDP (expenditure-based), chained (2017) dollars GDP from the previous quarter is less than 0.0 for two consecutive quarters between Q4 2024 and Q4 2025 (inclusive), as reported by Statistics Canada (StatCan).

Otherwise, this market will resolve to "No".

Note that any two consecutive, concurrent vintages indicating negative GDP growth will qualify, regardless of prior or later revisions. For example, if upon release, the initial estimate for Q2 2025 was negative, and Q1 2025's most recent, up-to-date estimate was also negative, this market would resolve to "Yes". If on December 31, 2025 the latest estimate for quarterly GDP in Q3 2025 was negative, this market will stay open until Statistics Canada publishes the initial estimate for Q4 2025, at which point it will resolve to "Yes" if Q4 2025 was negative or if the C.D. Howe Institute’s Business Cycle Council declares a recession by then.

The resolution source will be the official announcements from the C.D. Howe Institute’s Business Cycle Council and Statistics Canada’s estimate of seasonally adjusted annualized percent change in quarterly Canadian real GDP from previous quarters as released by Statistics Canada (e.g., as reported in the line “Gross domestic product at market prices” in Table 3 of the quarterly GDP release: https://www150.statcan.gc.ca/n1/daily-quotidien/250829/t003a-eng.htm)

Canada recession in 2025?

This market will resolve to 'Yes' if the seasonally adjusted and annualized GDP 'Advance Estimate' for Q3 2025, scheduled for release by the U.S. Bureau of Economic Analysis (BEA) on October 30, 2025, reports a growth rate of -5% or lower. 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' will be used for resolution. Any subsequent revisions or updates to the data will not be considered.

5% GDP contraction in Q3 2025?  

This market will resolve to 'Yes' if the seasonally adjusted and annualized GDP growth rate for the full year 2026, as derived from the 'Advance Estimate' for Q4 2026, with a release by the U.S. Bureau of Economic Analysis (BEA) expected in January 2027, 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 2026, which provides the initial full-year 2026 GDP growth rate, will be used for resolution. Any subsequent revisions or updates to the data will not be considered.

Negative GDP growth in 2026?

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 both of the following conditions prove true at any point in 2025:

1) The "US recession in 2025?" market resolves to "Yes" (https://polymarket.com/event/us-recession-in-2025).

2) The Consumer Price Index (CPI) increases by 5.0% or more over the 12 month period ending in any month between April 2025 and December 2025 according to the US Bureau of Labor Statistics (https://www.bls.gov/bls/news-release/cpi.htm#current)

Otherwise, this market will resolve to "No".

This market will not resolve until all relevant figures are reported for the period of time encompassing December 2025.

The resolution sources for this market will be the NBER, BEA (https://www.bea.gov/data/gdp/gross-domestic-product), and BLS (https://www.bls.gov/bls/news-release/cpi.htm#current), as well as the "US recession in 2025?" market on Polymarket.

US stagflation in 2025?

The FED interest rates are defined in this market by 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 there are exactly 2 cuts of 25 basis points by the Fed's December meeting (including any cuts made during Dec meeting). Otherwise, this market will resolve to “No.”

This market may resolve to "Yes" immediately after the statement from the Fed's December 2025 meeting has been released if there has been exactly 2 rate cuts by then.

For example, if the FED cuts rates by 50 bps after a meeting, it would be considered 2 cuts (of 25 bps each). If there are 3 or more rate cuts at any point before this market's resolution date, this market will resolve to "No".

Note that cuts between 1-24 bps (inclusive) will also be considered 1 rate cut.

The resolution source for this market will be FOMC statements after meetings scheduled in 2025 according to the official calendar: https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm. The level and change of the target federal funds rate is also published at the official website of the Federal Reserve at https://www.federalreserve.gov/monetarypolicy/openmarket.htm.

Will 2 Fed rate cuts happen in 2025?

This market will resolve based on the seasonally adjusted number of federal employees, as reported by the U.S. Bureau of Labor Statistics (BLS) under the "All Employees, Federal" series (CES9091000001), displayed here (https://fred.stlouisfed.org/series/CES9091000001)

This market will resolve according to the decrease in the seasonally adjusted number of federal employees between the December 2024 report and the December 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 December 2024 value minus the December 2025 value.

The December 2024 figure will be based on the initial December 2024 BLS Employment Situation report scheduled for release on January 3, 2025, and the initial December 2025 figure will be based on the report scheduled for release on January 9, 2026. Revisions made to these figures will not be considered, only the values reported in the initial reports will be used.

The resolution source will be the BLS Employment Situation data, specifically the series CES9091000001, available at https://fred.stlouisfed.org/series/CES9091000001 or the official BLS website.


Will Elon and DOGE cut 150-200k employees in 2025?

This market will resolve to “Yes” if Brazil's unemployment rate for Q4 2025 is below 6.3% when it is released. Otherwise, this market will resolve to “No”.

This market will resolve according to IBGE's (https://www.ibge.gov.br/en/indicators#desemprego) public release of the Q4 2025 figure unemployment, expected in January 2026. If the publication of this figure is delayed beyond February 28, 2026 ET, this market will resolve according to the last published figure. 

Because this market's resolution source reports quarterly unemployment to one decimal point (e.g. 4.5%), this is the level of precision that will be used when resolving the market.


Brazil unemployment below 6.3% for Q4 2025?

This market will resolve if the value of the "[US] Federal government current tax receipts: Taxes on production and imports: Customs duties" for Q3 2025 is higher than Q2 2025, as defined and reported by the Federal Reserve Bank of St. Louis via the following source: https://fred.stlouisfed.org/series/B235RC1Q027SBEA

Only initial releases of each quarterly value will be used for resolution. Revisions made after the initial Q3 2025 release will not be counted.

If all relevant data is not published by December 31, 2025 ET, this market will resolve 50-50.

The resolution is based exclusively on the data shown in the chart linked above.

US tariff revenue up in Q3 2025?

Trump's Treasury Secretary pick Scott Bessent has floated the idea of Trump naming a successor to Jerome Powell to serve as a "shadow chair", prior to the end of Powell's term, scheduled for May 2026. (see: https://www.nbcwashington.com/news/business/money-report/fed-chair-jerome-powell-can-serve-remainder-of-term-says-trumps-treasury-pick-bessent/3788991/).

This market will resolve to according the individual Donald Trump announces as his pick for the next Federal Reserve Chair. If Donald Trump does not announce his pick for the next Federal Reserve Chair by December 31, 2025, 11:59 PM ET, this market will resolve to "No announcement by December 31".  

The resolution source for this market will be official information form Donald Trump or one of his official representatives, however a consensus of credible reporting may also be used.

Will Trump refrain from announcing a next Fed Chair in 2025?

This market will resolve to “No” if any of the following conditions are met between September 23, 2025, and December 31, 2025, 11:59 PM ET:

- Fed cuts twice
- Trump announces someone as next Fed Chair
- Powell says “Trump” during October Press Conference
- Lisa Cook is out as Fed Governor

Otherwise, this market will resolve to “Yes”.

The full rules for this market can be found here:
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https://polymarket-upload.s3.us-east-2.amazonaws.com/p3.png


Nothing Ever Happens:  Jerome Powell Edition

This market will resolve to "Yes" if the United States formally initiates a withdrawal from the World Trade Organization (WTO) or provides official written notice of withdrawal to the Director-General of the WTO by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

A notice of withdrawl refers to the submission of a written notice of withdrawal as per Article XV of the Marrakesh Agreement establishing the World Trade Organization (https://www.wto.org/english/res_e/publications_e/ai17_e/wto_agree_art15_oth.pdf).

Any action meeting these criteria will qualify for a “Yes” resolution regardless of if its implementation is immediately halted or delayed by judicial or other actions.

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

US announces withdrawal from WTO in 2025?

This market will resolve to "Yes" if President of the United States Donald Trump announces he has resigned or will resign the presidency by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

If it becomes impossible for Donald Trump to resign or to announce his resignation (e.g., due to his removal from office by other means, etc.), this market will immediately resolve to "No."

For this market to resolve to "Yes," it is only necessary that Trump announce that he has resigned or will resign. Whether he actually resigns will have no bearing on the resolution of this market.

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

Will Trump resign by December 31, 2026?

The CDC reported a general fertility rate of 53.7 births per 1,000 women aged 15–44 for Q2 2025 (see: https://www.cdc.gov/nchs/nvss/vsrr/natality-dashboard.htm). 

This market will resolve to "Yes" if the initial reported rate for Q3 2025 exceeds 53.7, according to the CDC's Vital Statistics Rapid Release series. Otherwise, this market will resolve to "No". 

If the CDC does not release general fertility rate data for Q3 2025 by March 31, 2026, 11:59 PM ET, this market will resolve to "No".

Resolution will be based on the first published estimate for Q3 2025, regardless of any subsequent revisions.

The resolution source will be the CDC’s Vital Statistics Rapid Release.

US fertility rate up in Q3 2025?

This market will resolve to "Yes" if Dan Clancy is no longer serving as CEO of Twitch for any length of time from the date of this market's inception, December 29, 2024 through December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

An announcement of Dan Clancy's resignation/firing before this market's end date will immediately resolve this market to "Yes", regardless of when the announced resignation/firing goes into effect.

This market's primary resolution source will be official information from Twitch and/or Dan Clancy, however a consensus of credible reporting sources will also be used.

Dan Clancy out as Twitch CEO 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 resolve to "Yes" if the US federal income tax is eliminated between January 21 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

For the purposes of this market, "abolishing the federal income tax" means the elimination of federal income tax obligations for individuals in the US, not merely reductions, suspensions, or alterations to tax rates, brackets, or enforcement policies. The market will not consider executive orders, temporary measures, or proposals that do not become law.

The primary resolution source for this market will be official information from the US federal government, including announcements from Donald Trump and the IRS, however a consensus of credible reporting will also be used.

When will the next recession happen in the US?

By Q4 2021?
$1,648 Vol.
No

By Q1 2022?
$15,605 Vol.
Yes

By Q2 2022?
$22,176 Vol.
Yes

By Q3 2022?
$40,480 Vol.
Yes

By Q4 2022?
$27,035 Vol.
Yes

Market Context

When will the next recession happen in the US?

Rules

When will the next recession happen in the US?

Market Context

When will the next recession happen in the US?

About

Related

When will the next recession happen in the US?

By Q4 2021?$1,648 Vol.Nocircle xmark

By Q1 2022?$15,605 Vol.Yescircle check

By Q2 2022?$22,176 Vol.Yescircle check

By Q3 2022?$40,480 Vol.Yescircle check

By Q4 2022?$27,035 Vol.Yescircle check

Market Context

When will the next recession happen in the US?

Rules

When will the next recession happen in the US?

Market Context

When will the next recession happen in the US?

About

Related

By Q4 2021?
$1,648 Vol.
No

By Q1 2022?
$15,605 Vol.
Yes

By Q2 2022?
$22,176 Vol.
Yes

By Q3 2022?
$40,480 Vol.
Yes

By Q4 2022?
$27,035 Vol.
Yes