led major cryptocurrencies lower during Thursday’s Asian trading hours, as odds of a U.S. government shutdown hit record highs on the decentralized betting platform Polymarket.
The price of Yes-side shares for the betting contract “U.S. government shutdown in 2025?” rose to 77%, the highest since the contract’s launch in January. Traders are essentially pricing a 77% probability that the U.S. Office of Personnel Management will announce a shutdown due to a lapse in appropriations by Dec. 31. Meanwhile, the likelihood of a shutdown by Oct. 1 stood at 63%.
According to media reports, the White House is preparing for large-scale job cuts in the event of a shutdown. On Wednesday, the Office of Management and Budget issued a memo asking agencies to prepare plans for staff reductions and furloughs if a spending bill is not passed next week.
The government is reportedly expected to run out of money by the end of September. To…
