Supreme Court Tariff Ruling Puts Crypto Markets on Edge

• Supreme Court tariff ruling timeline keeps crypto and tariff-linked markets cautious ahead of Wednesday.
  
• Polymarket odds for Trump tariffs fall to 26% as traders reprice legal risk.
  
• Bitcoin and broader crypto market consolidate, showing limited reaction to policy uncertainty.

Crypto markets remained cautious after the U.S. Supreme Court confirmed that it will issue its next opinion on Wednesday, prolonging uncertainty around a closely followed legal challenge to tariffs imposed under President Donald Trump. While the court confirmed the timing of its next session, it did not indicate which cases may be decided, maintaining suspense across financial markets sensitive to trade policy outcomes.

Related: Supreme Court Trump Tariff Case Puts Liquidity and Crypto in Focus

The court’s silence followed a subdued session on Friday, when justices issued only one ruling unrelated to tariffs. The absence of a decision prompted declines in tariff-exposed stocks, highlighting how closely markets are tracking the case. Under standard practice, the court releases opinions when justices take the bench at 10 a.m. Washington time, without advance notice of which rulings are ready.

Legal Scrutiny Over Emergency Tariff Powers

At the center of the dispute are Trump’s April 2 “Liberation Day” tariffs, which imposed duties ranging from 10% to 50% on most imports. Additional levies were applied to goods from Canada, Mexico, and China, justified by the administration under a 1977 law granting presidents expanded authority during national emergencies.

During oral arguments held on Nov. 5, several justices raised questions about whether that statute provided sufficient legal grounding for the tariffs, a line of inquiry that has since shaped market expectations.

A ruling against the tariffs would directly weaken a cornerstone of Trump’s economic agenda and represent his big legal setback since returning to office. Until the court issues a decision, investors remain focused on signals from both the judiciary and market-based indicators.

Related: Crypto Market Faces Volatile Week As Tariff Dividend, Shutdown End And Fed Liquidity Collide

Prediction Markets Reprice the Outcome

On Polymarket, traders have lowered the implied odds of a ruling in favor of the tariffs. The contract currently reflects a 26% probability, down from higher levels earlier in the trading period. The total volume stands at nearly $2.34 million.

Source: Polymarket

The pricing curve shows early volatility, followed by a decline from October to November. An adjustment in early November pushed odds from the mid-30% range toward 25%, after which pricing stabilized between 22% and 30%.

Crypto Market Holds Steady

Against this backdrop, the broader crypto market showed signs of consolidation rather than tension. Total market capitalization stood at $3.09 trillion, down 0.2%. The CMC20 index tracked by CoinMarketCap slipped 0.22% to $192.44, reflecting reduced intraday movement.

Bitcoin traded at $90,538.48, down 0.07% over the past 24 hours. Its market capitalization held at $1.8 trillion, while trading volume declined by 10.6% to $33.73 billion.