Name: Will Trump cut military spending?
Start: 2025-01-15T19:25:18.466497Z
End: 2025-12-31T12:00:00Z

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The 2025 National Defense Authorization Act provides $895.2 billion in FY 2025 funding for national defense (see: https://www.armed-services.senate.gov/imo/media/doc/fy25_ndaa_conference_executive_summary.pdf)

This market will resolve to "Yes" if the National Defense Topline budget in the first official budget proposal released by the White House Office of Management and Budget (OMB) for fiscal year 2026 is less than $895.2 billion. Otherwise, this market will resolve to "No."

Note that this market resolves solely on the first official budget proposal, regardless of whether the amount is later changed/altered.

If the Trump Administration does not propose a defense budget for fiscal year 2026 by December 31, 2025, 11:59 PM ET this market will resolve to "No."

The resolution source will be the Trump Administration, specifically the White House OMB or other credible government sources. 


Will Trump cut military spending?

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?

This market will resolve to "Yes" if the Trump administration announces that the U.S. will cut military or intelligence aid to Ukraine by the specified date, 11:59 PM ET. Otherwise, this market will resolve to "No". 

Any official announcement signaling a substantial reduction in either military or intelligence aid will qualify, regardless of whether or not the cuts actually occur. 

A qualifying announcement must state an actual decision to cut military or intelligence aid. Conditional, hypothetical, or contingent statements, such as “aid may be cut,” “could be cut,” or “will be cut if…”, will not qualify.

The primary resolution source will be official announcements from the Trump Administration; however, a consensus of credible reporting confirming that such cuts have occurred will also suffice.

Will Trump announce a cut to U.S. military or intelligence aid to Ukraine by December 31?

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 budget is balanced for the 2025 fiscal year, i.e. if revenue minus spending is 0 or greater. Otherwise, this market will resolve to "No."

The resolution source will be the Federal Surplus/Deficit published by the U.S. Office of Management and Budget (OMB) here https://fred.stlouisfed.org/series/FYFSD. 

 This market will resolve according to the first data release from the OMB - any further updates won't be considered.


Will DOGE balance the budget in 2025?

This market will resolve to "Yes" if Donald Trump issues a presidential veto of any bill by December 31, 2025, at 11:59 PM ET. Otherwise, this market will resolve to "No".

The resolution source will be official congressional records and a consensus of credible reporting.

Will Trump veto a bill in 2025?

This market will resolve to "Yes" if the National Aeronautics and Space Administration (NASA) ceases operations entirely, including the termination of all federal programs and activities managed by the agency, by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

If NASA is merged with another agency, resulting in a consolidated department with a shared administrative structure which is no longer titled the National Aeronautics and Space Administration, it will count as a "Yes" resolution.

If it becomes impossible for Trump to sign legislation/perform executive actions (e.g. he resigns), this market will resolve to "No".

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

Will Trump end NASA in 2025?

This market will resolve to "Yes" if Donald J. Trump, as President of the United States, signs into law a bill that lowers the maximum individual tax rate below 37% at any point between January 19 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No."

Note that the cut does not need to go into effect before the resolution date - it just needs to be signed into law by then.

This market's primary resolution source will be official information from the Trump administration, however a consensus of credible information will also be used.



Will Trump cut taxes on high earners in 2025?

This market will resolve according to the next person Donald Trump appoints to the National Security Advisor position by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

This market will resolve based on Trump's first announcement - if Trump announces another person to this position first, this market will immediately resolve to "No".

This market refers to the first permanent National Security Advisor following Mike Waltz's departure from the role; any acting advisor or otherwise temporary advisor will not qualify toward a "Yes" resolution.

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

Will Fred Fleitz be next National Security Advisor?

This market will resolve to "Yes" if Donald Trump formally declares a national emergency under the National Emergencies Act (NEA) between October 1, and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

A national emergency must actually be declared for this market to resolve to "Yes" - it will not be enough for Trump to announce an intention to declare a national emergency.

This market's resolution source will be official information from the Trump administration.

Trump declares another national emergency by December 31?

This market will resolve to “Yes” if Donald Trump or his administration takes a formal action or makes an official announcement directing the deployment of National Guard troops to the listed city by December 31, 2025, 11:59 PM ET. Otherwise, the market will resolve to “No.”
A qualifying announcement or action will count, regardless of if/when the deployment actually occurs, or if the deployment is delayed, suspended, or subsequently blocked by judicial or other actions.

Qualifying actions include but are not limited to:
- A Presidential action (e.g., Executive Order, Presidential Memorandum) that directs or announces National Guard deployment to the listed city.
- An official White House/DoD/National Guard Bureau press release, fact sheet, or order explicitly stating that National Guard troops will be deployed to the listed city.
- A Secretary of Defense or NGB directive/order that calls up or assigns National Guard forces to the listed city, including under Title 32 (state control with federal funding) or Title 10 (federalized).
- An official federal announcement that specific state Guard units (including the listed city National Guard or out-of-state Guard) are being sent to the listed city.

Non-qualifying actions include:
- Informal announcements/social media posts which do not constitute a formal policy announcement 
- Ambiguous remarks, “we’re considering it,” broad statements like “ready to go anywhere,” or contingent plans without a clear directive to the listed city.
- Generic posture changes (e.g., standing up quick-reaction forces “nationwide”) that do not explicitly name the listed city as a deployment location.
- A state-only activation by the listed city's state Governor without any official Trump administration action or announcement about sending the Guard to the listed city.

The primary resolution source will be a consensus of credible reporting.

Will Trump send the national guard to Los Angeles by December 31?

On April 2, Donald Trump announced a 10% tariff on all imports set to take effect on April 5, 2025 at 12:01 a.m. EDT (see: https://www.whitehouse.gov/fact-sheets/2025/04/fact-sheet-president-donald-j-trump-declares-national-emergency-to-increase-our-competitive-edge-protect-our-sovereignty-and-strengthen-our-national-and-economic-security/)

This market will resolve to “Yes” if Donald Trump signs any federal legislation or performs any executive action which pauses, delays, or removes the 10% general tariff by December 31, 2025, 11:59 PM ET. Otherwise this market will resolve to “No”.

Actions which remove the general 10% tariff will qualify even if there are item specific exceptions for which the tariff still applies. However, lowering the general tariff below 10% without removing it will not qualify.

Any action which is officially enacted within the market's time frame will qualify, regardless of when the removal goes into effect.

This market's primary resolution source will be official information from the Trump administration, however a consensus of credible information will also be used.

Will Trump remove 10% blanket tariff in 2025?

This market will resolve to "Yes" if the United States formally initiates a withdrawal from NATO or provides an official notice of denunciation to NATO by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

A notice of denunciation refers to the submission of a notice of withdrawal as per Article 13 of the North Atlantic Treaty.

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 U.S.'s exit from NATO’s integrated military command structure will not be sufficient to resolve this market to "Yes". 

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

Will Trump withdraw the U.S. from NATO in 2025?

This market will resolve to "Yes" if Donald Trump signs any executive order by December 31, 2025, 11:59 PM ET, that aims to eliminate or dismantle the National Aeronautics and Space Administration (NASA). Otherwise, this market will resolve to "No".

This market's primary resolution source will be the Federal Register (https://www.federalregister.gov/presidential-documents/executive-orders), however a consensus of credible reporting may also be used.

Trump executive order ending NASA in 2025?

This market will resolve to "Yes" if Donald Trump golfs on over 25% of days between January 20 and December 31, 2025 ET. Otherwise, this market will resolve to "No".

This market will resolve according to https://trumpgolftrack.com as of January 2, 2026, 12:00 PM. However, definitive photo or video evidence confirmed by a consensus of credible reporting may also be used to supplement the tally if the trumpgolftrack.com tally is incomplete. 

 


Will Trump spend >25% of 2025 presidency golfing?

On September 1, 2025, Treasury Secretary Scott Bessent said the Trump administration may declare a national housing emergency this fall to address high housing costs.(see: https://www.reuters.com/world/us/bessent-says-trump-administration-will-tackle-high-housing-costs-with-new-2025-09-01/)

This market will resolve to "Yes" if Donald Trump formally declares a national emergency under the National Emergencies Act (NEA) primarily addressing housing by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

A national emergency must actually be declared for this market to resolve to "Yes" - it will not be enough for Trump to announce an intention to declare a national emergency.

This market's resolution source will be official information from the Trump administration.

Will Trump announce a national housing emergency in 2025?

This market will resolve to "Yes" if Donald Trump signs any federal legislation or performs any executive action that explicitly eliminates federal income taxes for individuals earning less than $150,000 per year in the United States by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

Legislation which includes specific exceptions where federal income tax remains applicable for specified groups (whether by income, occupation, or other criteria) will still qualify, as long as the primary outcome of the law is the removal of federal income tax for individuals earning under $150,000. 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. If it becomes impossible for Trump to sign legislation/perform executive actions (e.g., he resigns), this market will resolve to "No".

This market's primary resolution source will be official information from the Trump administration, however a consensus of credible information will also be used.

Trump removes income tax on individuals making <$150k?

This market will resolve to "Yes" if Trump Media & Technology Group (TMTG) buys any amount of $TRUMP (https://solscan.io/token/6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN), either directly or through a subsidiary, between July 21, and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

The primary resolution source for this market will be announcements through official information from TMTG, however a consensus of credible reporting may also be used.

Will Trump Media buy $TRUMP in 2025?

This market will resolve to "Yes" if there is a military encounter between the military forces of the United States and Russia between May 28 and June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

A "military encounter" is defined as any incident involving the use of force such as missile strikes, artillery fire, exchange of gunfire, or other forms of direct military engagement between U.S. and Russian military forces. Non-violent actions, such as airspace violations, firing of warning shots (such as the June, 2021 Black Sea Confrontations between Russian forces and HMS Defender), or cyberattacks will not qualify. 

Intentional physical collisions, including aerial interceptions and naval ramming without the direct use of weaponry, such as the 2023 Black Sea incident—where a Russian Su-27 damaged a U.S. MQ-9 Reaper drone's propeller, leading to its crash— will not qualify regardless of damage. 

Military contractors will qualify only if confirmed to be operating under the direct command or coordination of the respective state’s armed forces (e.g. the Battle of Khasham would not qualify).

The resolution source for this market will be a consensus of credible reporting.


US x Russia military clash by June 30, 2026?

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 Donald Trump signs a bill into law or performs any executive action changing US tax law to eliminate the federal tax exemption on interest from municipal bonds by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

If the exemption is eliminated only for specific types or classes of municipal bonds (e.g., only newly issued bonds, only bonds from certain states or localities, or only bonds purchased after a certain date), it will still count toward a "Yes" resolution for this market.

If the bill is signed into law, or executive action is instituted before the resolution date, it will suffice to resolve this market to "Yes" regardless of when it takes effect.

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 remove municipal bond tax exemption in 2025?

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?

This market will resolve to "Yes" if Donald Trump signs any bill into law that aims to repeal or alter presidential term limits as defined by the 22nd Amendment to the U.S. Constitution, or if the U.S. Supreme Court rules in a way that would permit a president to serve more than two terms by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No."

Any law signed meeting these criteria will count, even if its implementation is immediately halted or delayed by judicial or other actions.

This market's resolution source will be official information from the Trump administration and U.S. Supreme Court decisions.

Will Trump repeal Presidential term limits in 2025?

This market will resolve to "Yes" if the Trump administration officially announces that they will be sending US troops to Ukraine as part of a peacekeeping force by December 31, 2025, 11:59 PM ET. Otherwise this market will resolve to “No”.

A qualifying announcement must be part of a formal agreement between the United States and another country or international organization or otherwise indicative of a formalized policy.

Announcement which are statements of intent, contingent, or otherwise are not indicative of a formalized policy will not count.

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

Trump agrees to send U.S. peacekeeping force to Ukraine?

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?

This market will resolve to "Yes" if Donald Trump signs any federal legislation or performs any executive action that creates a ‘DOGE dividend’ by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

Any cash transfer, tax credit, or other comparable financial transfer which is referred to as a DOGE dividend, or which is otherwise directly funded by savings created by the Department of Government Efficiency (DOGE) will qualify.  

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.

This market's primary resolution source will be official information from the Trump administration, however a consensus of credible information will also be used.

Will Trump create a DOGE dividend in 2025? 

This market will resolve to “Yes” if the Trump administration or the U.S. government announces that it is sending, has sent, or will send Tomahawk cruise missiles to Ukraine by March 31, 2026, at 11:59 PM ET. Otherwise, this market will resolve to “No.”

A qualifying statement within the specified timeframe will suffice regardless of when the missiles are sent.

For the purposes of this market, official policy announcements from the Trump administration or the U.S. government will qualify. Informal statements, leaks, or speculative remarks will not be sufficient.

The primary resolution sources for this market will be official information from the Trump administration, the U.S. government, or the government of Ukraine. A consensus of credible reporting may also be used if no direct official statement is available.

Will Trump send Tomahawk to Ukraine by March 31?

If U.S. President Donald Trump visits North Korea between August 4 and December 31, 2025, 11:59 PM ET, this market will resolve to "Yes". Otherwise, this market will resolve to "No".

For the purpose of this market, a "visit" is defined as Trump physically entering the terrestrial or maritime territory of the listed country. Whether or not Trump enters the country's airspace during the timeframe of this market will have no bearing on a positive resolution.

The primary resolution source for this information will be official information from government of the United States of America, official information from Trump or released by his verified social media accounts (e.g. https://twitter.com/POTUS), however, a consensus of credible reporting will also be used.

Will Trump cut military spending?

Market Context

Will Trump cut military spending?

Rules

Will Trump cut military spending?

Market Context

Will Trump cut military spending?

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