Conflicting messages from the US and Iran about the Strait of Hormuz have driven a sharp drop in prediction market odds. The market for Trump lifting the Hormuz blockade by May 31 is at 78% YES, down from 90% just a day ago.
## Market reaction
The May 31 sub-market dropped 12 points in 24 hours, suggesting traders aren’t buying Trump’s optimistic take on negotiations. The April 19 market plummeted to 8% YES as Iran’s closure of the strait persists. With 43 days until the May deadline, the spread shows traders expect no quick resolution.
The market for UK warships passing through the Strait by April 30 sits at 8.5% YES. Traders remain skeptical of any change in the UK’s naval posture given Iran’s warnings against military movement.
## Why it matters
Actual USDC traded in these markets was $29,602 over the last 24 hours, with both the May 31 and April 19 sub-markets seeing heavy activity. The May 31 market’s liquidity is thin enough that just $1,419 could swing the odds by 5 points, making it vulnerable to sharp moves from large trades. A 5-point drop at 12:19 PM showed this sensitivity in action.
## What to watch
Trump’s optimistic rhetoric hasn’t translated into concrete de-escalation, while Iran’s continued blockade and missile threats keep traders wary. At a price of 78¢, a YES share on the May 31 market implies belief in a diplomatic breakthrough. For a 1.28x return, you’d need to believe negotiations advance significantly next month.
Watch for Trump’s upcoming statements and any shifts in US naval presence. Any direct US-Iran diplomatic engagement or a change in military posture near the strait could move these markets fast.
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Trump Announces Us Blockade Of Hormuz Lifted| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| May 31, 2026 | 76.5% | — | — | Trade → |
| April 19, 2026 | 7% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 30 | 8.5% | — | — | Trade → |
