Pope Leo XIV's warning that artificial intelligence could produce a "social calamity" through mass unemployment has found echo on Wall Street, where prediction market traders are increasingly pricing in the possibility of a much weaker U.S. labor market before the decade ends.
According to a CNBC report, traders on Kalshi are giving a 60% chance that U.S. unemployment will cross 8% at some point before 2030 and a 47% chance that it will cross 9% during the same period. Those levels would represent a major deterioration from the current labor market.