Donald Trump’s negotiation strategy with Iran has stalled. US-Iran ceasefire odds by April 7 have plunged to 1.4% YES, down from 2% just 24 hours ago and 12% a week ago.
The market reaction has been swift. The April 7 market sits at 1.4% YES, while the April 15 market is at 6.5% YES, down from 10% yesterday. Odds for the April 30 market have also dipped to 19.5%, a drop from 28% the day prior. These odds show traders’ lack of confidence in a near-term diplomatic breakthrough amidst ongoing military escalations.
USDC trading volume gives a clearer picture. The April 7 market saw $25,714 in trades yesterday, a fraction of the $1.4M face value. It takes $18,876 to move the price by 5 points, indicating moderate liquidity. The largest single move was a 4-point drop in the May 31 market, showing traders’ pessimism.
The failure of Trump’s negotiation strategy is a significant blow to ceasefire prospects. This isn’t just noise—it’s a recalibration of expectations based on the lack of diplomatic progress. Traders are pricing in continued military actions and rejected peace proposals. A YES share for April 7 at 1.4¢ pays $1 if resolved—a 71x return, but you’d need to believe in a last-minute diplomatic miracle.
Watch for official statements from CENTCOM or new diplomatic initiatives from intermediaries like Oman or Qatar. Changes in rhetoric or a surprising diplomatic breakthrough could shift these markets.
Markets Impacted
- US x Iran ceasefire by April 7? — currently 1.4% YES
- US x Iran ceasefire by April 15? — currently 6.5% YES
- US x Iran ceasefire by April 30? — currently 19.5% YES
- US x Iran ceasefire by May 31? — currently 38.5% YES
- US x Iran ceasefire by June 30? — currently 55.5% YES
- US x Iran ceasefire by December 31? — currently 70.5% YES
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Add us on Google Disclosure: This article was edited by Estefano Gomez. For more information, see our Editorial Policy. Term Structure| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 7 | 1.4% | — | — | Trade → |
| April 15 | 6.5% | — | — | Trade → |
| April 30 | 19.5% | — | — | Trade → |
| May 31 | 38.5% | — | — | Trade → |
| June 30 | 55.5% | — | — | Trade → |
| December 31 | 70.5% | — | — | Trade → |
