Several crypto-linked stocks surged on Friday as the prediction-market odds of a December rate cut hit 87% on Polymarket, the highest this month. Three US-listed Bitcoin miners saw double-digit gains over the past five days. Yahoo Finance data showed Circle, the issuer of USDC, jumped nearly 10% in early trading.

Bitcoin was up around 7% on the week, rebounding from a drop to $82,000 on Nov. 21. The volatility in prediction-market pricing this month has been influenced by comments from Federal Reserve officials. Fed Chair Powell’s remark on a December cut not being a foregone conclusion was seen as hawkish, leading to shifts in odds.

Prediction markets, such as Kalshi and Polymarket, have expanded their influence, with Polymarket partnering with sports entities like the Ultimate Fighting Championships. Kalshi raised $1 billion in funding, with rumors emerging of Coinbase developing its prediction-market platform. Robinhood reported rapid growth in prediction markets as a revenue driver.

Read more at Cointelegraph: Polymarket Shows 87% Chance of December Fed Cut; Crypto Stocks Move Higher