Today on the show: AI bubble trouble, inflation week, Wisconsin and South Carolina primary night, Fed rate odds, and Jon Turek of JST Advisors joins to talk Anthropic, macro markets, prediction market distributions, and the future of the AI boom. Alex Keeney and Brian Golden break down the biggest markets moving right now. First: inflation. With the July inflation report coming next week, oil-price pressure from the Iran conflict, an ugly jobs report, and renewed bond-market anxiety, traders are pricing what comes next for the Federal Reserve. Will inflation stay cool? Will the Fed hike in September? And is the 2026 rate-hike market mispriced? Then: elections. Wisconsin voters head to the polls with Francesca Hong a heavy favorite in the Democratic governor primary. Alex and Brian examine whether 95-cent “yes” shares are still tradable, whether margin markets are too expensive, and whether text-to-web polling is breaking down in high-turnout Democratic primaries. In South Carolina, a special Republican Senate primary triggered by Lindsey Graham’s sudden death has become a volatile market. Darline Graham, Ralph Norman, and Russell Fry are all in the mix, with polling uncertainty, runoff risk, and second-place markets creating a complicated trade setup. Plus: Nate Silver’s new model, football almost being back, the Eventual newsletter, 5 Chart Friday, the Smart Money Tracker, Seth Moulton as Pick of the Week, and Best First Trade. Finally, Jon Turek, founder of JST Advisors and contributor to the Polymarket Oracle newsletter, joins Eventual for a deep dive on AI, Anthropic, OpenAI, macro risk, and political markets. Jon explains why AI capex is entering a new phase, how to think about the “AI bubble burst” market, why Anthropic’s valuation curve may be too narrow, and how prediction markets can price outcomes traditional financial markets cannot. He also discusses open-source AI, Moonshot’s Kimi models, xAI, Alibaba, model-ranking markets, Christine Lagarde and the ECB, France’s 2027 presidential election, Marine Le Pen, and political risk in Israel. Topics include: AI bubble markets; Anthropic valuation and IPO odds; OpenAI, Google, xAI, Moonshot, Kimi, and Alibaba; AI capex and free cash flow; open-source AI; July CPI and inflation markets; Federal Reserve rate-hike odds; bond yields, oil, and Iran War inflation risk; Wisconsin’s Democratic governor primary; Francesca Hong and David Crowley; polling misses; South Carolina’s Republican Senate primary; Darline Graham, Ralph Norman, and Russell Fry; runoff markets; Nate Silver’s model; Seth Moulton vs. Ed Markey; Christine Lagarde and the ECB; France’s 2027 election; Marine Le Pen; and Israel election markets. Guest: Jon Turek — Founder, JST Advisors Hosted by: Alex Keeney and Brian Golden For more prediction market news and analysis, visit eventual.news. The authors may hold positions in prediction markets related to topics discussed in this article. Positions may change at any time without notice. The views expressed in this article represent the author’s analysis and opinion and are provided for informational purposes only. Nothing in this article should be construed as investment advice, trading advice, or a recommendation to enter into any transaction. For Polymarket US users:18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See polymarket.com/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.
