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"to speculate" is a correct and commonly used phrase in written English
It means to contemplate, guess, or hypothesize about something without definite proof or evidence. You can use "to speculate" in many situations, such as when discussing potential outcomes or future events, exploring a theory or idea, or considering different possibilities or explanations. Example: Many experts speculate that advancements in technology will greatly impact the job market in the coming years.
Dictionary
to speculate
verb
To think, meditate or reflect on a subject; to consider, to deliberate or cogitate.
Exact(60)
"I'm not going to speculate on speculation".
"I don't like to speculate.
It's too early to speculate.
There's no need to speculate.
Others use them to speculate.
"You have to speculate.
"It's premature to speculate".
Woodward declined to speculate.
He declined to speculate on the outcome.
She never tried to speculate on them.
Yet Lownie opts not to speculate.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com