Predicting the market: Kalshi traders believe that with energy prices dropping in June, US inflation has peaked in May.

As the relations between the United States and Iran ease, leading to a drop in oil and natural gas prices, traders in the prediction market now believe that inflation has peaked. Speculators on the prediction market platform Kalshi believe that there is only a 28% chance that the overall inflation rate in the United States will exceed 4.2% this year. The next CPI report measuring inflation levels in June will be released by the US Bureau of Labor Statistics on July 14th.