Iran wants Lebanon included in any ceasefire agreement with the US. The odds of a US-Iran ceasefire by April 22 sit at 24.5% YES, up from 12% a week ago.
This development touches two markets: US x Iran ceasefire extended by April 21 at 8% YES, and US x Iran permanent peace deal by April 22 at 24.5% YES. Adding Lebanon to the negotiations makes a deal harder to reach, which raises the chance of failure. The April 30 market jumped from 17% to 40.5% YES over the week, suggesting traders see more room for a resolution on a longer timeline.
Volume across all ceasefire markets hit $699,190 in USDC over the past 24 hours. Liquidity varies: it takes $16,401 to move the April 22 odds by 5 points, which points to real money behind near-term positioning. The current ceasefire expires April 21, and if Lebanon’s inclusion remains unresolved by then, expect sharp price swings.
Iran tying Lebanon to the deal raises the stakes. If the US and Israel reject this condition, the ceasefire is more likely to collapse than hold. A YES share at 24.5¢ pays $1 if resolved, a 6.67x return, but that price reflects how unlikely the market considers a deal that now has to satisfy three parties instead of two.
Watch for Pakistan’s mediating role and statements from US and Israeli leaders. Any signal that Lebanon’s inclusion is accepted or rejected will move these odds fast.
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Trump Announces Us X Iran Ceasefire| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 21, 2026 | 10% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 22 | 24.5% | — | — | Trade → |
| April 30 | 40.5% | — | — | Trade → |
| May 31 | 55.5% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| June 30 | 70.5% | — | — | Trade → |
| December 31 | 100% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 30, 2026 | 40.9% | — | — | Trade → |
| December 31, 2026 | 71.5% | — | — | Trade → |
| June 30, 2026 | 71.5% | — | — | Trade → |
