This market predicts whether the Federal Reserve’s December 2025 Federal Open Market Committee (FOMC) decision includes a 25 basis point decrease in the upper bound of the target federal funds rate. The outcome is determined by the officially announced rate change at the conclusion of the December meeting.

1. The Federal Reserve interest rate referenced is the upper bound of the target federal funds rate.
2. This market resolves based on the basis point change relative to the level in effect immediately prior to the December 2025 FOMC meeting.
3. Only an exact 25 basis point decrease qualifies for a YES resolution; all other outcomes resolve to NO.
4. Resolution will be based on the official FOMC statement issued after the December 2025 meeting, published on the Federal Reserve’s official calendar:
   https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm\ The target federal funds rate is also published at:
   https://www.federalreserve.gov/monetarypolicy/openmarket.htm
5. This market resolves to YES if the upper bound of the target federal funds rate decreases by exactly 25 basis points compared to the level prior to the December 2025 FOMC meeting.
6. If the rate is unchanged, decreases by a different amount, or increases, the market resolves to NO.
7. If the December 2025 FOMC meeting is canceled, rescheduled without an announced decision, or no official statement is issued by December 31, 2025, the market resolves to NO.
8. Resolution will occur upon the release of the December FOMC statement, expected at approximately 7:00 PM UTC, or no later than December 31, 2025 if delayed.