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Kevin Warsh’s prospects for Fed confirmation face uncertainty after his Senate testimony, as a federal probe into current Chair Jerome Powell continues. Odds of Warsh being confirmed by April 30 have decreased on Polymarket, reflecting trader skepticism.
Market reaction
The market for Kevin Warsh’s confirmation is under pressure, with odds dropping in response to the ongoing investigation into Powell’s alleged false testimony on renovations. Traders are pricing in potential delays or a block in his nomination process. With 10 days left until April 30, this market is notably thin, which amplifies any swings in sentiment.
The Trump renames Strait of Hormuz market saw a minor uptick but remains largely dismissed at 4.5% YES. The Iranian oil sanction relief market holds at 40.5% YES, unchanged by the day’s developments.
Why it matters
Trading volume for Warsh’s confirmation is at a standstill. The absence of significant trades suggests traders are waiting for more information on the Senate Banking Committee’s next moves or further statements from key senators.
With less than two weeks until the end of April, a YES share in the confirmation market is a risky bet. For a payout at $1, a trade at these odds implies a contrarian view that the probe will resolve quickly or that Warsh will leverage bipartisan support to get through.
What to watch
Statements from senators like Thom Tillis could move the market depending on whether they signal support or opposition. Any official updates from the Senate Banking Committee could quickly shift sentiment.
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