European military action against Iran by...?

According to the latest prediction market data for the query “European military action against Iran by...?”, traders have formed a strong consensus.

Currently, December 31 is dominating the market with an overwhelming 1,000% chance of winning. October 31 follows in second place at 310%. The betting volume for this specific market has already reached $325.4K, reflecting intense industry interest.

To better assess where each potential outcome stands, the market can be segmented into three distinct trading tiers based on implied probability and contract pricing:

🥇 Tier 1: The Dominant Leader

• December 31 (1,000%): Currently commanding the highest probability, December 31 is heavily favored by the order book. Traders looking to back this outcome face a “Buy Yes” contract price of 1,000¢, signaling a high degree of market conviction. This contract alone has generated $1.3K in volume.

🥈 Tier 2: The Primary Challengers

• October 31 (310%): Positioned as the most viable alternative, October 31 maintains a 310% chance of resolving true. Its “Buy Yes” shares currently trade at 310¢.

This market will resolve to “Yes” if any European country takes a qualifying military action against Iran by the specified date, 11:59 PM Central European Summer Time (CEST). Otherwise this market will resolve to “No.”

A qualifying military action refers to an air strike or a surface-to-surface missile strike, initiated by any European country, that directly impacts Iran. An air strike includes bombs, air-to-surface missiles, and air-launched drones. A surface-to-surface missile strike includes one-way attack drones and surface-to-surface missiles such as cruise or ballistic missiles.

For the purposes of this market, a “European country” is defined as any of the following sovereign states: Albania, Andorra, Austria, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, Ireland, Italy, Kosovo, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Monaco, Montenegro, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, United Kingdom, and Vatican City.

The following actions do not constitute a qualifying military action:

Munitions destroyed or intercepted before impact;

Surface-to-air missile strikes;

Small-arms fire;

Ground incursions;

Cyber operations;

Naval gunfire and artillery fire;

Howitzers, artillery pieces, mortars, and rocket artillery (e.g. MLRS systems);

Minor surface-to-surface strikes, including short range loitering munitions, FPV drones, and ATGM strikes;

Any threat, authorization, or announcement of force that has not been executed.

Any munition that is intercepted or destroyed before impact does not constitute a qualifying military action. Debris, fragments, or any wreckage from intercepted munitions that land on Iran do not constitute a military action regardless of any damage incurred.

“Iran” refers to the territory within the internationally recognized borders of Iran. If the precise location of a strike cannot be clearly attributed to the defined territory, it will not qualify.

The occurrence, attribution, and timing of a qualifying military action will be primarily determined based on a consensus of information available from the resolution sources. Where multiple sources conflict regarding the occurrence, attribution, or timing of a relevant military action, this market will remain open until the earlier of: i) the confirmation of the occurrence, attribution, and timing of the action based on a consensus of information available from the resolution sources or ii) 3 full calendar days (CEST) from the date of the first credibly reported evidence of the action. If this period would extend past the end date, this market will remain open to allow for 3 full calendar days to pass. If, at the end of the third calendar day, conflicting reports remain as to the occurrence, attribution, or timing of the action, this market will resolve based on the totality of information available from the resolution sources at that time. No single statement, denial, or presentation of evidence will govern where it is contradicted by the totality of information.

The resolution sources for this market will be official information from the governments and militaries of the relevant European country and Iran and credible reporting.