Name: Will Iran close the Strait of Hormuz before 2027?
Start: 2025-11-05T16:31:58.760617Z
End: 2026-12-31T00:00:00Z

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If Iran halts or severely restricts international maritime traffic through the Strait of Hormuz by December 31, 2026, 11:59 PM ET, this market will resolve to "Yes". Otherwise, this market will resolve to "No".

The primary resolution source for this market will be official governmental information, however a consensus of credible reporting will also be used.

Strait of Hormuz

Will Iran close the Strait of Hormuz before 2027?

If Iran halts or severely restricts international maritime traffic through the Strait of Hormuz by June 30, 2025, 11:59 PM ET, this market will resolve to "Yes". Otherwise, this market will resolve to "No".

The primary resolution source for this market will be official governmental information, however a consensus of credible reporting will also be used.

Will Iran close the Strait of Hormuz before July?

If Iran halts or severely restricts international maritime traffic through the Strait of Hormuz by December 31, 2025, 11:59 PM ET, this market will resolve to "Yes". Otherwise, this market will resolve to "No".

The primary resolution source for this market will be official governmental information, however a consensus of credible reporting will also be used.

Will Iran close the Strait of Hormuz in 2025?

If Iran halts or severely restricts international maritime traffic through the Strait of Hormuz by December 31, 2023, 11:59 PM ET, this market will resolve to "Yes". Otherwise, this market will resolve to "No".

The primary resolution source for this market will be official governmental information, however a consensus of credible reporting will also be used.


Will Iran close the Strait of Hormuz in 2023?

On June 13, Iranian leaders announced they no longer plan to engage in nuclear talks with the U.S. that were scheduled to take place in Oman on Sunday (see: https://thehill.com/policy/international/5348689-iran-nuclear-deal-talks-suspended/).

This market will resolve to "Yes" if it is confirmed that official nuclear-related negotiations between the United States and Iran resume at any point on by December 31, 2025, at 11:59 PM ET. Otherwise, the market will resolve to "No".

To qualify, the talks must involve official representatives of both governments and focus primarily on nuclear issues, such as uranium enrichment, sanctions relief, IAEA inspections, or the JCPOA. Talks may be direct or mediated, and may occur in person or virtually.

Only the actual resumption of talks will count; announcements that talks have been scheduled to resume will not alone qualify.

Unofficial backchannel communications, general diplomatic meetings not centered on nuclear issues, or one-sided public proposals will not qualify.

The market will resolve based on a consensus of credible reporting.

US x Iran nuclear talks resume by December 31? 

This market will resolve to "Yes" if both of the following conditions are met by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".


1. The US initiates a military action on Iranian soil, airspace, or maritime territory or against any Iranian embassies or consulates between June 18, and December 31, 2025, 11:59 PM ET. 

For the purposes of this market, a "military action" will be considered to be any use of force executed by the US military on Iranian soil, airspace, or maritime territory (e.g. if a weapons depot on Iranian soil is hit by an US missile) that is officially acknowledged by the US government or a consensus of credible reporting. This includes, but is not limited to, airstrikes, naval attacks, or ground invasions. Cyber attacks, sanctions, or diplomatic actions will not count towards the resolution of this market.


2. The Islamic Republic of Iran’s current ruling regime is NOT overthrown, collapsed, or otherwise ceases to govern by December 31, 2025, 11:59 PM ET. 

The Islamic Republic of Iran’s current ruling regime will be considered overthrown if a broad consensus of reporting indicating that core structures of the Islamic Republic (e.g. the office of the Supreme Leader, the Guardian Council, IRGC control under clerical authority) have been dissolved, incapacitated, or replaced by a fundamentally different governing system or otherwise lost de facto power over a majority of the population of Iran. This could occur via revolution, civil war, military coup, or voluntary abdication, but only qualifies if the Islamic Republic no longer exercises sovereign power.

Routine political events such as elections, reforms, or leadership succession do not qualify. Internal coups or power shifts that preserve the Islamic Republic’s core structures also do not qualify. Only a clear break in continuity—such as a new provisional government, revolutionary council, or constitution replacing the Islamic Republic will qualify.

Partial loss of territory or challenges from rebel or exile groups will not qualify unless the Islamic Republic no longer administers the majority of the Iranian population within Iran.

The resolution source will be a consensus of credible reporting.

Note: If the Iranian regime falls - as defined above - prior to a qualifying U.S. military action, this market will immediately resolve to "No". 

Will the Iranian regime survive U.S. military strikes?

This market will resolve to "Yes" if Donald Trump and Ali Khamenei speak directly to one another between June 26, 7:00 PM ET, and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

Any conversation that occurs directly between Donald Trump and Ali Khamenei will qualify, regardless of whether it is over the phone, videocall, or in person. The conversation must be voice-based, not text-based.

The primary resolution source for this market will be information from the governments of Iran and the United States, however a consensus of credible reporting will also be used.

Trump x Khamenei talk in 2025? 

This market will resolve to “Yes” if active regular US military personnel physically enter Iran for combat operations at any point between June 21, 2025, and December 31, 2025, 11:59 PM ET.

US military personnel must physically enter the terrestrial territory of Iran to qualify. Entering Iran's maritime or aerial territory will not count.

High ranking US service members entering Iran for diplomatic purposes (and their accompanying entourage), military contractors, military advisors, and special operation forces will not qualify.

The resolution source will be a consensus of credible reporting.

US forces in Iran in 2025?

This market will resolve to "Yes" if either Israel initiates a drone, missile, or air strike on Iranian soil or any official Iranian embassy or consulate, or Iran initiates a drone, missile, or air strike on Israeli soil or any official Israeli embassy or consulate, by 11:59 PM ET on the listed date. Otherwise, this market will resolve to "No".

For the purposes of this market, a qualifying "strike" is defined as the use of aerial bombs, drones or missiles (including cruise or ballistic missiles) launched by Israeli or Iranian military forces that impact the other party’s ground territory or any official embassy or consulate (e.g., if a weapons depot on Iranian soil is hit by an Israeli missile, or an Israeli air base is hit by an Iranian drone, this market will resolve to "Yes") that is officially acknowledged by the relevant government or a consensus of credible reporting.

Missiles or drones which are intercepted and surface-to-air missile strikes will not be sufficient for a "Yes" resolution regardless of whether they land on the opposing party’s territory or cause damage.

Israel x Iran ceasefire broken by March 31, 2026?

Tehran, the Iranian capital, is experiencing a crisis as a historic drought has led the local water supply to run low. You can read more about that here: https://www.newsweek.com/irans-capital-running-dry-in-historic-water-crisis-10987433.

This market will resolve to “Yes” if the national government of Iran, the government of Tehran Province, or the government of Tehran Municipality, including the Tehran City Council, orders a major evacuation of the city of Tehran due to the ongoing water crisis by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to “No”. 

A major evacuation order is defined as an official government order mandating or instructing a majority of Tehran’s residents to leave the city. The order must explicitly reference the ongoing water shortage or associated infrastructure failure as a primary reason for evacuation to qualify for resolution.

A limited evacuation order affecting only a minority of the residential population of the city of Tehran, or an evacuation order due primarily to reasons other than the ongoing water crisis will not qualify.

The primary resolution source for this market will be information from the Iranian government; however, a consensus of credible reporting will also be used.

Evacuation of Tehran ordered in 2025?

On October 9, Israel and Hamas signed a deal implementing a ceasefire: https://www.reuters.com/world/middle-east/israel-hamas-agree-gaza-ceasefire-return-hostages-2025-10-09/

This market will resolve to "Yes" if a either Israel or Hamas announce the cancellation of the ongoing ceasefire, or if a consensus of credible reporting confirms that the ceasefire is no longer in effect, by March 31, 2026, 11:59 PM ET. Otherwise this market will resolve to "No".

Announcements that one side or another violated the ongoing ceasefire will not be enough to resolve this market to "Yes"; only a definitive announcement by Israel or Hamas, or otherwise a wide consensus of credible reporting that that the ceasefire has been ended, will qualify to resolve this market to "Yes".

The primary solution resolution source will be official information from Hamas or the government of Israel, however a consensus of credible reporting may also be used.

Israel x Hamas ceasefire cancelled by March 31, 2026?

This market will resolve to "Yes" if the European Union officially imposes new sanctions of any form against Israel between September 2 and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

Sanctions could include measures like tariffs, trade restrictions, financial penalties, diplomatic expulsions, travel bans, restrictions on specific individuals, or any other actions that are commonly recognized as sanctions.

Sanctions against Israeli citizens or entities which do not directly target the Israeli state or members of the Israeli government will not qualify.

The passage of an official act authorizing sanctions on Israel within this market's timeframe will count toward a "Yes" resolution, regardless of if/when the sanctions come into effect.

Only the imposition of sanctions on Israel by the EU as an entity will qualify; if individual member states of the EU apply sanctions against Israel (e.g., France imposes novel trade restrictions on Israel unilaterally), it will not be sufficient to resolve this market to "Yes".

The primary resolution source will be official information from the European Union; however, a consensus of credible reporting may be used.

EU sanctions on Israel by December 31?

This market will resolve to "Yes" if Israel initiates a drone, missile, or air strike on any Gulf state's soil or any Gulf state's official embassy or consulate between September 9, 2 PM ET, and December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

For this market, Gulf states are defined as the six members of the Gulf Cooperation Council (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates).

For the purposes of this market, a qualifying "strike" is defined as the use of aerial bombs, drones, or missiles (including cruise or ballistic missiles) launched by Israeli military forces that impact a Gulf state's ground territory, embassy, or consulate.

Missiles or drones that are intercepted and surface-to-air missile strikes will not be sufficient for a "Yes" resolution, regardless of whether they land on a Gulf state's territory or cause damage.

Actions such as artillery fire, small arms fire, FPV or ATGM strikes directly, ground incursions, naval shelling, cyberattacks, or other operations conducted by Israeli ground operatives will not qualify.

The resolution source will be a consensus of credible reporting.

Israel strike on Gulf State by December 31?

This market will resolve to "Yes" if Israel initiates a drone, missile, or air strike on the West Bank's soil between November 27, 2025, 3:00 AM IST and the listed date 11:59 PM Israel Standard Time (IST). Otherwise, this market will resolve to "No".

For the purposes of this market, a qualifying "strike" is defined as the use of aerial bombs, drones, or missiles (including cruise or ballistic missiles) launched by the Israeli military that impact the West Bank's ground territory.

A strike on any area within the terrestrial territory of the West Bank counts.

Missiles or drones that are intercepted and surface-to-air missile strikes will not be sufficient for a "Yes" resolution, regardless of whether they land on the West Bank's territory or cause damage.

Actions such as artillery fire, small arms fire, FPV or ATGM strikes, ground incursions, naval shelling, cyberattacks, or other operations conducted by the Israeli military will not qualify.

The primary resolution source will be official government/military statements, multilateral bodies (UN, etc.), or a consensus of credible reporting from major international media and national broadcasters/newspapers.

If the date/time of a strike cannot be confirmed by a consensus of credible reporting within 48 hours of this market's end date, it will resolve to "No" regardless of whether a strike was later confirmed to have taken place.

Israel strike on the West Bank by December 31?

This market will resolve to "Yes" if Donald Trump signs any federal legislation or performs any executive action enacting a tariff on imports of semiconductors into the United States by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".

Only tariffs specifically targeting semiconductors will qualify. For example, a general tariff (tariffs on all imports into the U.S.) or country-specific tariff (tariffs on all imports from China) will not count toward this market's resolution.

Tariffs on semiconductors from a specific country will qualify.

Any tariff which is officially enacted within the market's time frame will qualify, regardless of when the tariff goes into effect.

This market's primary resolution source will be official information from the Trump administration; however, a consensus of credible information will also be used.

Trump imposes tariff on semiconductors by December 31?

This market will resolve to "Yes" if President of the United States Donald Trump announces he has resigned or will resign the presidency by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

If it becomes impossible for Donald Trump to resign or to announce his resignation (e.g., due to his removal from office by other means, etc.), this market will immediately resolve to "No."

For this market to resolve to "Yes," it is only necessary that Trump announce that he has resigned or will resign. Whether he actually resigns will have no bearing on the resolution of this market.

The primary resolution source for this market will be official information from the US federal government; however, a consensus of credible reporting will also be used.

Will Iran close the Strait of Hormuz before 2027?

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Will Iran close the Strait of Hormuz before 2027?

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Will Iran close the Strait of Hormuz before 2027?

Order Book

Market Context

Will Iran close the Strait of Hormuz before 2027?

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