Polymarket odds slip to 48.5% for US–Iran ceasefire by Aug. 31

Polymarket Ceasefire Odds Slip After Fresh US Airstrike Reports Reprice the Timeline Ladder

Polymarket traders are now pricing a 48.5% chance of a US–Iran “effective ceasefire” by August 31, down 1.0 point on the latest update, with $1,024,939 matched. The move follows fresh reporting of new US airstrikes, and the ladder structure shows where the market is drawing its timeline cutoffs.

Key Takeaways

• Prediction: “Ceasefire by August 31” leads at 48.5% (Yes 48.5 / No 51.5) on Polymarket’s timeline ladder.
• Basis: After news of renewed US strikes and ongoing exchanges, the market’s implied odds eased, with near-term ceasefire dates still priced as low-probability outcomes.
• Timing: The market resolves by 2026-08-31 23:59 UTC; recent tape is soft with a -4.0 pp change over 24h and -4.0 pp over 7d in the summary.

The report says the US military carried out new airstrikes on Iran aimed at “swiftly punish[ing]” Iran’s Revolutionary Guard after an attack on a base in Jordan killed two US service members and left one missing. It describes damage to infrastructure and continued exchanges of strikes, with US Central Command citing targets tied to surveillance, logistics, weapons storage, and maritime capabilities. The account also says Iran has effectively closed the Strait of Hormuz to shipping since the war began with US and Israeli strikes on Feb. 28.

Timeline Ladder Breakdown: $1.02M Matched as August 31 Holds 48.5% (vs July 18 at 0.6% and August 14 at 30.5%)

This is a price-ladder (timeline) market, so each row is a separate binary contract on whether an “effective ceasefire” happens by a specific date, not a single bet on a final “settlement date.” The curve is steep: July 18 is priced at Yes 0.6% / No 99.4, July 24 at Yes 9.0% / No 91.0, July 31 at Yes 14.5% / No 85.5, and August 14 at Yes 30.5% / No 69.5—meaning traders see near-term de-escalation as unlikely while leaving meaningful probability for a later pause. The leading cutoff, August 31, sits near a coin flip at Yes 48.5% / No 51.5 on $1,024,939 volume, suggesting unresolved disagreement on whether a two-week pause emerges by the end of the window. The historical summary flags weakening consensus with moderate volatility and a reversal detected, consistent with choppy repricing rather than a one-way “war-to-peace” narrative; the summary also shows -4.0 pp over both 24h and 7d versus an avg_last_5 of 54.3. For readers used to slower headline cycles, the ladder provides a more granular signal: traders are not just debating “ceasefire or not,” but explicitly pricing how quickly it could arrive across multiple deadlines.

Watch whether probability concentrates into the mid-August rung (August 14) or re-expands toward the final rung (August 31). Any sustained shift should show up as a flatter ladder (higher near-term Yes prices) rather than only a small change in the leading 48.5% figure, ahead of the 2026-08-31 23:59 UTC resolution deadline.

What Traders Watch Next on Polymarket: Strait of Hormuz Disruption, Oil Spikes, and Related Macro/Crypto Volatility Cont

Beyond the ceasefire ladder, traders are also mapping second-order risks across other high-volume Polymarket contracts tied to leadership, escalation, and chokepoint disruption. “Strait of Hormuz traffic returns to normal by July 31?” is heavily tilted to No at 98.85% on $17,752,925 volume, while “Will the U.S. invade Iran before 2027?” has No leading at 69.5% on $44,700,737 as bettors handicap longer-horizon military scenarios. On the political continuity side, “Iran leader end of 2026?” shows Mojtaba Khamenei at 73.5% with $32,362,259 matched—signals that can feed back into how traders price macro volatility and energy-sensitive outcomes elsewhere on the platform.

Odds Trend

By the Numbers

• Platform: Polymarket
• Market: US x Iran Effective Ceasefire by…? (2 week pause)
• Contract type: Price strike ladder: each rung has separate Yes/No; Yes means the spot price is above that USD strike at settlement.
• Resolution window: Aug 31, 2026 (UTC)
• Status: Active (open for trading)
• Volume: ~$1,024,939

Top strike rungs

+1 more strikes not shown

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