The U.S. gross national debt surpassed $40 trillion last month for the first time in the nation's history, and while the federal government is continuing to rack up debt at an increasing pace, fiscal challenges loom on the horizon for political leaders who are currently in office and those who will be competing in upcoming elections. The growth in the national debt coupled with higher interest rates has caused the cost of servicing America's debt to surge as the fast-growing portion of the federal budget, while also exceeding the size of the defense budget. This has led many Americans to ask: What will be the peak U.S. national debt under the Trump administration? Our sponsor Kalshi’s prediction market shows a $49T forecast.