Updated
Updated · CNBC · Jun 29
Kalshi Traders See Under 100,000 June Jobs as Wall Street Forecasts 118,000
Updated
Updated · CNBC · Jun 29

Kalshi Traders See Under 100,000 June Jobs as Wall Street Forecasts 118,000

3 articles · Updated · CNBC · Jun 29

Summary

  • Less than 60% of Kalshi bets imply June payroll growth will top 100,000, putting the market below the 118,000 Dow Jones consensus ahead of Thursday’s BLS report.
  • May’s payroll gain came in at 172,000—more than double the outlook then—and Kalshi traders had previously leaned toward an upside surprise, marking a sharp shift in expectations.
  • 42% odds on Kalshi put payroll growth above 125,000, suggesting traders see limited chances of a stronger rebound even as Wall Street expects only a significant slowdown from May.
  • 71% of traders expect unemployment to exceed 4.2%, but only 30% see it rising above the current 4.3%, broadly aligning with the consensus for a steady jobless rate.
  • That cautious labor view matches other Kalshi economic pricing: after Treasury Secretary Scott Bessent said growth could reach 3% this year, traders gave only 14.2% odds to GDP expanding 2.6% to 3%.

Insights

As prediction markets challenge Wall Street consensus, whose economic crystal ball will prove right?
Is Kalshi a revolutionary forecasting tool or a high-tech casino facing a regulatory crackdown?