As tensions escalate between Iran and Israel’s latest conflict, an unusual indicator is drawing attention — crypto prediction markets, as per a report.
After US President Donald Trump urged citizens of Tehran, Iran’s capital, to “immediately” evacuate the city, home to around 10 million people, on Monday, cryptocurrency bettors increased the likelihood that the United States would join Israel in the war against the Middle Eastern country, reported Benzinga.
He took to his social media site, Truth Social, to write that, “Iran should have signed the ‘deal’ I told them to sign. What a shame, and waste of human life. Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON,” quoted Benzinga.
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While, the White House Press Secretary Karoline Leavit had also said that the US president would cut short his G7 summit “because of what’s going on in the Middle East,” as quoted in the report.
On Polymarket, a popular blockchain-based betting platform, the odds of a United States military strike on Iran before June 30 have jumped sharply, climbing 15 percentage points in just 24 hours to reach 44%, as of June 19, according to Benzinga.
Over $5.3 million has been wagered on the bet, and the market would resolve to “Yes” if the United States initiates a military action on Iranian soil, airspace, or maritime territory or against any Iranian embassies or consulates before June 30, as per the Polymarket’s rules.
Why are crypto traders betting on a US strike on Iran?
Because of rising tensions and strong public statements from US president Donald Trump, traders are reacting to the possibility of war on Polymarket.
What is Polymarket?
Polymarket is a crypto-based prediction platform where users bet on real-world events using blockchain technology.
