An Iranian official has indicated that Pakistan is making positive efforts to end the US blockade and engage Iran in talks. The market for a US-Iran ceasefire announcement by April 21 sits at 18% YES, up from 8% just 24 hours ago.
The news has shifted the market’s term structure. The US-Iran ceasefire odds for April 21 jumped 10 points in a day. The permanent peace deal market for April 22 has stabilized at 20% YES, after dropping from 40% the previous day. Traders are hedging on the possibility of progress in talks, though the market remains volatile.
The ceasefire market saw $3,485 in actual USDC traded, with $498 in order book depth to move the price 5 points. Even modest trades can move prices meaningfully at this liquidity level. The largest single move was a 3-point spike at 11:12 AM.
Pakistan’s mediating role matters because the ceasefire is nearing expiration, and any credible signal of progress could change the calculus for both sides. Without a definitive decision from Iran or the US, though, this remains speculative. At 18¢, a YES share pays $1 if the ceasefire is declared broken by April 21, a 5.6x return. Traders are pricing in the likelihood of diplomatic progress rather than immediate conflict.
Watch for statements from the White House or Iranian leadership, especially involving Pakistani mediation. Potential announcements from Islamabad in the next few days will likely drive price action.
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Trump Announces Us X Iran Ceasefire Broken| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 21 | 17.5% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 22, 2026 | 20.5% | — | — | Trade → |
| April 30, 2026 | 41.5% | — | — | Trade → |
| May 31, 2026 | 60.5% | — | — | Trade → |
| June 30, 2026 | 70.5% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 30 | 29% | — | — | Trade → |
