Two unresolved issues are stalling a U.S.-Iran deal as the ceasefire deadline approaches. Ceasefire by April 30 now sits at 37.5%, down from 36% a week ago.
Market reaction
The April 30 ceasefire market dropped 5.5 points over the past week on disputes over nuclear material and the Strait of Hormuz. With 10 days left, traders are pricing in low probability that a formal cessation of hostilities gets announced.
In the Israel-Iran permanent peace deal market, odds for a deal by April 30 are at 4.8%, up slightly from 4% yesterday. The term structure jumps to 19% for June 30, suggesting traders expect any progress to take months rather than days.
Odds for WTI Crude Oil hitting $160 in April sit at 1.2%, but unresolved Strait of Hormuz disputes could trigger oil supply disruptions if tensions escalate.
Why it matters
Daily volume for the ceasefire market is at $163,195 face value, with $54,670 in actual USDC traded. Only $841 is needed to move the odds by 5 percentage points, meaning a single large trade could swing this market significantly. The oil market is thicker, requiring $2,188 for a similar movement.
What to watch
Watch Islamabad for announcements of resumed talks or intermediary actions. The next 48 hours matter most as the ceasefire expiration approaches, and any sign of diplomatic progress or failure will likely move these markets.
At 30.5¢, a YES share in the ceasefire market pays $1 if an agreement is reached by April 30, a 3.28x return. To justify that bet, traders would need to believe in rapid negotiations or an unexpected diplomatic breakthrough.
API CTA
Get prediction market intelligence as a structured API feed. Early access waitlist.
Trump Announces End Of Military Operations Against Iran| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 30 | 37.5% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 30 | 5.2% | — | — | Trade → |
| April 22 | 2.9% | — | — | Trade → |
| June 30 | 23% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April | 0.9% | — | — | Trade → |
