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Jerome powell

Trade: Who will Trump nominate as Fed Chair?

Opened · Settles · 2,001 comments

Resolution criteria on PolyGram: This market will resolve according to the next individual Donald Trump, as President of the United States, formally nominates to be Chair of the Federal Reserve by December 31, 2026, 11:59 PM ET. Formal nominations are defined as the submission of a nomination message to the U.S. Senate. Acting or interim appointments will not count unless the individual is formally nominated to be Chair of the Federal Reserve by submission of a nomination message to the U.S. Senate. The primary resolution source for this market will be official information from the U.S. Senate (see: https://www.senate.gov/legislative/nominations_new.htm), however a consensus of credible reporting may also be used.

PolyGram is an on-chain prediction market where you trade YES or NO outcome shares with real USDC on Polygon. For this market, buy YES if you believe the event will happen, or NO if you think it won't. Your maximum loss is your stake — winning shares pay $1.00 each at resolution. Unlike sportsbooks, there is no house edge: prices are set by supply and demand from other traders and reflect the crowd's real-time probability.

Liquidity
$5K
Total Volume
$617.3M
24h Volume
$69
Open Interest
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Market outcomes

Kevin Warsh 100% YES0% NO
Kevin Hassett 0% YES100% NO
Christopher Waller 0% YES100% NO
Bill Pulte 0% YES100% NO
Judy Shelton 0% YES100% NO
David Malpass 0% YES100% NO
Howard Lutnick 0% YES100% NO
Individual T 0% YES100% NO

Market context

Donald Trump will return to the presidency in January 2025, and the Federal Reserve Chair position will become vacant when Jerome Powell's term expires in May 2026. The market currently reflects a 100% implied probability that Trump will nominate Powell for a second term, pricing this outcome at the top of Polymarket's order book. This probability is formed by traders bidding on the YES contract, which settles if Trump formally submits Powell's nomination to the Senate by the end of 2026.

Powell's reappointment would represent continuity in monetary policy leadership despite Trump's previous public criticism of the Fed Chair. Historical precedent suggests sitting Fed Chairs often secure renomination; all three predecessors to Powell (Yellen, Bernanke, and Greenspan) were renominated by their respective presidents. Trump's current economic advisors, including Treasury Secretary nominee Scott Bessent, have signalled openness to Powell's continuation. However, Trump has historically shifted positions on personnel matters, and alternative candidates—including potential replacements from within the Fed or external figures—remain theoretically available until a formal nomination occurs.

Key catalysts for traders include Trump's public statements on Fed leadership following his inauguration, any significant economic or inflation developments that might shift his preference, and the timeline of formal nomination announcements. The Senate confirmation process typically begins several months before a term expires, meaning any nomination would likely occur during 2025 or early 2026. Market participants should monitor Federal Reserve communications and Treasury Department statements for signals regarding Powell's status.

Wikipedia Context

How this market resolves

Resolution is handled by the UMA optimistic oracle on Polygon. A proposer submits the outcome, a two-hour dispute window opens, and if no one stakes a counter-claim the payout is final. Contested outcomes escalate to UMA token-holder voting. Payouts clear in USDC to the winning side.

How to trade this market step by step

The mechanics for trading "Who will Trump nominate as Fed Chair?" are the same as any other PolyGram event contract. Each YES share resolves to $1 if the event happens, or $0 if it doesn't. The current price between 0¢ and 100¢ is the market's probability estimate, set live by the order book.

  1. Sign in on polygram.ink with your email — no full KYC under $1,500 lifetime trading volume.
  2. Deposit USDC on Polygon (lowest fees, ~$0.01 per transaction) or Ethereum. Funds credit after 12 confirmations.
  3. Pick a side. Buy YES if you believe the event will happen; buy NO if you think it won't. The current YES price reflects the market's collective probability.
  4. Size your position. If you stake 100 USDC at 50% YES, you'll receive shares that pay $200 if YES resolves true — a 100% gross return. If NO resolves, your shares are worth $0.
  5. Set risk controls (optional). Stop-loss, take-profit, and limit-order types all supported. Use the trade ticket's slippage box to cap your maximum entry price.
  6. Wait for resolution. When the event resolves on-chain via the UMA optimistic oracle, the winning side settles to 100¢ automatically and USDC hits your balance within seconds. Withdrawable to any wallet you control.

How active is this market?

$617.3M in lifetime turnover and $5K of resting liquidity puts this market in the top 2% by volume for jerome powell contracts on PolyGram. Order-book depth is thin — large orders may need to be split across the book or executed as limit orders.

Last 24 hours alone saw $69 in turnover, consistent with the market's lifetime daily-average pace.

The market has been open for 9 months — long enough that the order book is mature and price is well-anchored to fundamentals.

Higher-volume markets tend to have tighter spreads and faster price discovery — meaning the displayed YES/NO percentages are more likely to reflect the true crowd-implied probability rather than a single trader's directional view.

Key terms

YES / NO share
A binary outcome token that pays $1.00 if the underlying claim resolves true (YES) or false (NO), and $0 otherwise. The market price between 0¢ and 100¢ is the implied probability.
CLOB
Central limit order book. The matching engine that pairs YES buyers with NO buyers (effectively the same trade). Polymarket's CLOB on Polygon executes trades on-chain via the conditional-tokens framework.
Liquidity
USDC capital sitting in resting limit orders inside the order book. Deeper liquidity means smaller slippage on large trades and a tighter bid-ask spread.
UMA optimistic oracle
The on-chain dispute system that settles each Polymarket market. A proposer submits the outcome, a two-hour challenge window opens, and unchallenged proposals finalise the resolution.
Slippage
The difference between the displayed mid-price and your fill price. Affects market orders most; limit orders avoid slippage but may take time to fill.
Conditional token
ERC-1155 outcome share issued by Gnosis Conditional Tokens on Polygon. The token type that resolves to $1.00 or $0.00 at settlement.

See the full prediction-market glossary →

Frequently asked questions

How does this market resolve?

Resolution is handled by the UMA optimistic oracle on Polygon. A proposer submits the outcome, a 2-hour dispute window opens, and if uncontested the payout is final. Contested outcomes escalate to UMA token holders.

When does this market close?

This prediction market is scheduled to close on 31 December 2026. After the resolving event occurs, settlement typically clears within 24 hours once the UMA optimistic oracle confirms the outcome. All payouts are in USDC on the Polygon network.

How can I trade on "Who will Trump nominate as Fed Chair?"?

To trade on this prediction market, create a free PolyGram account at polygram.ink, deposit USDC via Polygon, and place a YES or NO order on the outcome you believe in. You can learn more on our how-it-works page. Your maximum loss is limited to your stake — there is no leverage or margin.

What happens when the market resolves?

When the outcome is determined, winning YES shares pay out $1.00 each in USDC, while losing shares pay $0. Settlement is handled by the UMA optimistic oracle on Polygon — a proposer submits the result, a two-hour dispute window opens, and if uncontested, payouts are distributed automatically. You can withdraw your winnings to any Polygon wallet.

Risk and regulatory note

Prediction-market positions can lose 100% of staked capital. Outcomes are uncertain by definition — historical accuracy of crowd-implied probabilities is high in aggregate but not for any single market. PolyGram does not provide investment advice. Trade only with capital you can afford to lose.

Regulatory status varies by jurisdiction. Germany, the United States, and most EU countries treat Polymarket-style event contracts under one of three frameworks: financial derivative, gambling product, or unregulated novel asset. Consult local counsel before trading.

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