diff --git a/packages/compiler/src/frontend/lowering/call-signatures.ts b/packages/compiler/src/frontend/lowering/call-signatures.ts
index 45329d077..98e78953f 100644
--- a/packages/compiler/src/frontend/lowering/call-signatures.ts
+++ b/packages/compiler/src/frontend/lowering/call-signatures.ts
@@ -1148,6 +1148,15 @@ export function lambdaSignature(
   // is the one the adoption block below takes for mappable inferred
   // returns, so this only changes programs that do not compile today.
   //
+  // A lambda RETURNED from the function being lowered flows into that
+  // function's result type, which OBSERVES its value — the checker's void
+  // contextual type at such a site comes from an outer assignment target
+  // that would discard the enclosing function's own result. So the void
+  // adoption below must not fire there: `{ on: (h) => () => seen.push("y") }`
+  // against a `(h) => void` field types the inner arrow `() => number`
+  // (its own type) while its contextual type is the discarded `() => void`,
+  // and the outer arrow's result is the `() => number` that must return it.
+  const returnedValue = returnedIntoValueSlot(lowerer, node);
   // The contextual signature is looked up at most once per lambda: both
   // this decision and the adoption block below need it, and the checker
   // call is not free in a compile this hot.
@@ -1165,6 +1174,7 @@ export function lambdaSignature(
     ts.isArrowFunction(node) && !ts.isBlock(node.body) && isStreamUndefCallExpr(lowerer, node.body)
       ? VOID
       : (ts.isArrowFunction(node) || ts.isFunctionExpression(node)) &&
+          !returnedValue &&
           voidContextualSlot(lowerer, node, contextualSigs)
         ? VOID
         : lowerer.declaredReturnType(node, node);
@@ -1292,6 +1302,7 @@ export function lambdaSignature(
     if (
       !literalMethod &&
       !isAsyncLike &&
+      !returnedValue &&
       !node.type &&
       !inferredLiteral &&
       ret.kind !== "void" &&
@@ -1352,6 +1363,20 @@ function voidContextualSlot(
   );
 }
 
+/** Whether `node` is the expression of a `return` in the function being
+ * lowered, and that function's result is a function type promising a
+ * value (`() => number`, not `() => void`). Such a lambda's value reaches
+ * the caller of the enclosing function, so its own return type is kept
+ * even when the checker's contextual type for it is `void` (see the ABI
+ * decision in lambdaSignature). */
+function returnedIntoValueSlot(lowerer: Lowerer, node: ts.Node): boolean {
+  let parent: ts.Node | undefined = node.parent;
+  while (parent !== undefined && ts.isParenthesizedExpression(parent)) parent = parent.parent;
+  if (parent === undefined || !ts.isReturnStatement(parent) || !parent.expression) return false;
+  const result = lowerer.ctx.returnType;
+  return result.kind === "func" && result.ret.kind !== "void";
+}
+
 /** The type of the property an object-literal method fills on the
  * literal's contextual type; undefined when the literal has no contextual
  * type or the method has a computed name. */
diff --git a/packages/compiler/test/ts7/baselines/order-parity/tests/corpus/void-slot-returned-arrow.ts.json b/packages/compiler/test/ts7/baselines/order-parity/tests/corpus/void-slot-returned-arrow.ts.json
new file mode 100644
index 000000000..cc7e1cea7
--- /dev/null
+++ b/packages/compiler/test/ts7/baselines/order-parity/tests/corpus/void-slot-returned-arrow.ts.json
@@ -0,0 +1,6 @@
+{
+ "order": [
+  "<repo>/tests/corpus/void-slot-returned-arrow.ts"
+ ],
+ "diags": []
+}
diff --git a/tests/corpus/void-slot-returned-arrow.ts b/tests/corpus/void-slot-returned-arrow.ts
new file mode 100644
index 000000000..0abe87eac
--- /dev/null
+++ b/tests/corpus/void-slot-returned-arrow.ts
@@ -0,0 +1,26 @@
+// A value-returning arrow RETURNED through a `() => void` interface member.
+// TypeScript types the inner arrow `() => number` (its own type) while the
+// checker contextually types it `() => void`; the enclosing arrow's result
+// is `() => number`, so the value is observed and must be produced. Node
+// runs this; the closure is called for its effect only.
+interface Subscriber {
+  on(handler: (data: string) => void): () => void;
+}
+
+function makeSubscriber(): Subscriber {
+  const seen: string[] = [];
+  return {
+    on: (handler) => {
+      seen.push("registered");
+      handler("first");
+      // Concise arrow whose body returns a number: the result is discarded
+      // at the `() => void` slot but the arrow's own type keeps it.
+      return () => seen.push("unsubscribed");
+    },
+  };
+}
+
+const off = makeSubscriber().on((data) => console.log("got", data));
+console.log("off is", typeof off);
+off();
+console.log("done");
diff --git a/tests/harness/corpus-costs/void-slot-returned-arrow.ts.json b/tests/harness/corpus-costs/void-slot-returned-arrow.ts.json
new file mode 100644
index 000000000..c321beddb
--- /dev/null
+++ b/tests/harness/corpus-costs/void-slot-returned-arrow.ts.json
@@ -0,0 +1 @@
+{ "plain": 1600, "san": 2400 }