Iran’s military plans to respond after the US attacked a ship bound for Iran from China. The probability of Iran conducting military action by April 30 sits at 100% YES.
Market reaction
The incident has moved several related markets. The likelihood of the UK striking Iran by April 30 remains at 0.7% YES, unchanged. This market sees only $15 in daily USDC volume. It would take just $273 to shift the odds by 5 percentage points, making it vulnerable to large orders.
The diplomatic meeting market has moved more. The odds that no US-Iran diplomatic meeting will occur by June 30 have risen to 3.7% YES, up from 2% in the last 24 hours. Daily USDC volume here is $400, and the cost to move odds 5 points is higher at $462.
Why it matters
The US attack and Iran’s retaliation vow point toward military escalation, not diplomacy. Military action odds have solidified at the ceiling while diplomatic meeting odds are drifting further toward “no meeting.” Traders are pricing in continued confrontation.
What to watch
For a contrarian angle, buying YES on diplomatic meetings not occurring by June 30 at 4¢ pays $1 if correct, a 25x return. This bet requires continued escalation with no diplomatic pivot.
Watch for signals from the UK’s Parliament or military that could move the strike odds. Any direct diplomatic contact between Iran and the US would also reprice these markets quickly.
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Which Countries Will Conduct Military Action Against Iran April 30| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 30 | 0.9% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| June 30 | 4% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 30 | 100% | — | — | Trade → |