The Strait of Hormuz has reopened to commercial shipping under coordinated routes, suggesting possible de-escalation between the US and Iran. The market for Trump announcing the end of the US blockade by May 31 is at 90% YES.
Market reaction
The May 31 announcement market holds steady at 90% YES. The April 19 market rose to 23% YES, up from 13% a few days ago. The April 22 peace deal market is at 30.5% YES, showing moderate trader confidence in a lasting agreement.
Why it matters
The Hormuz blockade market traded $33,928 in actual USDC over 24 hours. The order book is relatively thick, with $3,730 needed to move the May 31 market by 5 points. The most notable move was a 4-point drop in the April 17 market, which has since stabilized.
What to watch
The reopening of the strait points toward a diplomatic resolution, but the situation is fluid. Buying YES at 23¢ pays $1 if Trump announces by April 19, a 5.6x return. That bet requires confidence in a diplomatic breakthrough within three days.
Watch for Trump’s communications and any statements from Iranian officials or U.S. military leadership on a blockade lift or peace deal. The April 19 and April 22 deadlines are days away.
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Trump Announces Us Blockade Of Hormuz Lifted| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| May 31 | 90% | — | — | Trade → |
| April 17 | 2.5% | — | — | Trade → |
| April 19 | 23% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 22, 2026 | 30.5% | — | — | Trade → |
