diff --git a/web/components/contracts-list.tsx b/web/components/contracts-list.tsx
index ed268867..107b5f87 100644
--- a/web/components/contracts-list.tsx
+++ b/web/components/contracts-list.tsx
@@ -33,7 +33,7 @@ export function ContractsGrid(props: {
 
   if (contracts.length === 0) {
     return (
-      <p className="mx-4">
+      <p className="text-gray-500 mx-4">
         No markets found. Would you like to{' '}
         <Link href="/create">
           <a className="text-green-500 hover:underline hover:decoration-2">
diff --git a/web/pages/fold/[...slugs]/index.tsx b/web/pages/fold/[...slugs]/index.tsx
index 885c5987..888ffd2d 100644
--- a/web/pages/fold/[...slugs]/index.tsx
+++ b/web/pages/fold/[...slugs]/index.tsx
@@ -214,11 +214,19 @@ export default function FoldPage(props: {
         <Row className={clsx(page === 'activity' ? 'gap-16' : 'gap-8')}>
           <Col className="flex-1">
             {page === 'activity' ? (
-              <ActivityFeed
-                contracts={activeContracts}
-                contractBets={activeContractBets}
-                contractComments={activeContractComments}
-              />
+              <>
+                <ActivityFeed
+                  contracts={activeContracts}
+                  contractBets={activeContractBets}
+                  contractComments={activeContractComments}
+                />
+                {activeContracts.length === 0 && (
+                  <div className="text-gray-500 mt-4">
+                    No activity from matching markets.{' '}
+                    {isCurator && 'Try editing to add more tags!'}
+                  </div>
+                )}
+              </>
             ) : (
               <SearchableGrid
                 contracts={contracts}