TOTAL VOLUME:
$117.1b
24H VOL:
$122,493,166
24H TRANSACTIONS:
1,380,975,298
OPEN INTEREST:
$1,191,792,202
340,492
Markets across
34,140
events
MATCHED EVENTS:
4,396
PLATFORM COVERAGE:
5
Polymarket:
42%
VS.
Kalshi:
58%
December 31
- Polymarket
December 31 - Polymarket
16%
1W
News
Positive
Negative
Neutral
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Aug 20
Aug 22
Aug 23
Aug 24
Aug 25
Aug 26
Aug 27
Vol.
$38.1k
·
Resolves Dec 31, 2026
$
This market will resolve to "Yes" if a ceasefire between Russia and Ukraine goes into effect by 11:59 PM Eastern European Time (EET) on the specified date and remains continuously in effect for at least 10 calendar days. Otherwise, this market will resolve to "No". A ceasefire refers to any mutually agreed suspension of direct military engagement between Russia and Ukraine, which is officially announced by both countries or confirmed by a consensus of credible reporting to have been mutually agreed by both countries, and which constitutes a general suspension of direct kinetic military engagement across the primary theater of the overall conflict. A broader peace deal, normalization agreement, political framework, truce, or humanitarian pause (including holiday ceasefires) will count provided they otherwise qualify under this market’s rules. Any form of informal understanding, backchannel communication, de-escalation without an announced agreement, or unilateral pause in hostilities will not be considered a ceasefire. Agreements which only apply to specific conflict categories (e.g. restrictions on certain target categories or certain locations) will not qualify. Any calendar day (EET) during which the ceasefire is in effect (including the first day of the ceasefire) will count towards the 10-day total. The required 10 day period will end at 11:59 PM EET on the 10th day (inclusive). If a qualifying ceasefire goes into effect prior to this market’s end date, this market will remain open until the ceasefire is no longer in effect, or until the 10 calendar days have been reached. A ceasefire is considered no longer in effect when a consensus of credible reporting indicates the general suspension of hostilities has substantively ended across the primary theater. Temporary or technical lapses or expiration of a formal ceasefire term, isolated incidents, localized violations, or accusations alone will not invalidate the ceasefire provided the general suspension of hostilities across the primary theater continues. Where official government statements conflict with a consensus of credible field reporting, the reporting will take precedence over the government statements. The resolution source for this market will be a consensus of credible sources. Examples of qualifying Ceasefires: April 8, 2026 US–Iran ceasefire: The United States and Iran publicly announced and implemented a mutually agreed ceasefire framework intended to broadly halt direct military hostilities between the two countries. Despite subsequent maritime confrontations, alleged violations, isolated retaliatory strikes, and disputes regarding compliance, the broader ceasefire framework continued to function and widescale fighting across the primary theater did not resume. November 27, 2024 Israel–Hezbollah ceasefire: Israel and Hezbollah implemented a broadly operative ceasefire framework brokered through international mediators that substantially reduced hostilities across southern Lebanon and northern Israel, including the effective halt of Israel’s major ground offensive into Lebanon and a significant reduction in Hezbollah rocket fire. Although the ceasefire was not formally announced through a single joint declaration by both parties and public statements differed in framing and characterization, a consensus of credible reporting confirmed the arrangement had been mutually agreed and implemented in practice. Despite continued isolated strikes, alleged violations, and disputes regarding compliance, credible reporting broadly treated the ceasefire as remaining operational and widescale fighting across the primary theater of the conflict did not resume. Examples of non qualifying Ceasefires: November 24, 2023 Israel–Hamas humanitarian pause: Although it was a mutually agreed and publicly announced broad suspension of hostilities across Gaza, the ceasefire framework remained in effect for only approximately 7 days before wide-scale fighting resumed, failing the required 10-calendar-day duration requirement. Ceasefire violations prior to November 30, would not have invalidated the ceasefire. July 22, 2022 Black Sea Grain Initiative: Although Russia and Ukraine entered into internationally brokered agreements governing grain exports and reducing risks to commercial shipping in the Black Sea, the arrangement did not constitute a general suspension of direct military engagement across the primary theater of the war. Hostilities continued across Ukraine throughout the duration of the agreement and the arrangement applied only to specific categories of activity and geographic areas. May 2023 Sudan ceasefires (SAF–RSF): Although the Sudanese Armed Forces (SAF) and Rapid Support Forces (RSF) publicly agreed to multiple internationally brokered ceasefires, a consensus of credible reporting indicated that the general suspension of hostilities across the primary theater never substantively took effect and large-scale fighting broadly continued throughout the ceasefire periods. While some temporary reductions in violence and localized humanitarian access reportedly occurred in certain areas, artillery fire, airstrikes, urban combat, troop movements, and offensive operations continued across major parts of Sudan almost immediately after implementation. Credible reporting broadly treated the ceasefires as having failed or collapsed in practice despite technically remaining in force on paper.
This market will resolve to "Yes" if a ceasefire between Russia and Ukraine goes into effect by 11:59 PM Eastern European Time (EET) on the specified date and remains continuously in effect for at least 10 calendar days. Otherwise, this market will resolve to "No". A ceasefire refers to any mutually agreed suspension of direct military engagement between Russia and Ukraine, which is officially announced by both countries or confirmed by a consensus of credible reporting to have been mutually agreed by both countries, and which constitutes a general suspension of direct kinetic military engagement across the primary theater of the overall conflict. A broader peace deal, normalization agreement, political framework, truce, or humanitarian pause (including holiday ceasefires) will count provided they otherwise qualify under this market’s rules. Any form of informal understanding, backchannel communication, de-escalation without an announced agreement, or unilateral pause in hostilities will not be considered a ceasefire. Agreements which only apply to specific conflict categories (e.g. restrictions on certain target categories or certain locations) will not qualify. Any calendar day (EET) during which the ceasefire is in effect (including the first day of the ceasefire) will count towards the 10-day total. The required 10 day period will end at 11:59 PM EET on the 10th day (inclusive). If a qualifying ceasefire goes into effect prior to this market’s end date, this market will remain open until the ceasefire is no longer in effect, or until the 10 calendar days have been reached. A ceasefire is considered no longer in effect when a consensus of credible reporting indicates the general suspension of hostilities has substantively ended across the primary theater. Temporary or technical lapses or expiration of a formal ceasefire term, isolated incidents, localized violations, or accusations alone will not invalidate the ceasefire provided the general suspension of hostilities across the primary theater continues. Where official government statements conflict with a consensus of credible field reporting, the reporting will take precedence over the government statements. The resolution source for this market will be a consensus of credible sources. Examples of qualifying Ceasefires: April 8, 2026 US–Iran ceasefire: The United States and Iran publicly announced and implemented a mutually agreed ceasefire framework intended to broadly halt direct military hostilities between the two countries. Despite subsequent maritime confrontations, alleged violations, isolated retaliatory strikes, and disputes regarding compliance, the broader ceasefire framework continued to function and widescale fighting across the primary theater did not resume. November 27, 2024 Israel–Hezbollah ceasefire: Israel and Hezbollah implemented a broadly operative ceasefire framework brokered through international mediators that substantially reduced hostilities across southern Lebanon and northern Israel, including the effective halt of Israel’s major ground offensive into Lebanon and a significant reduction in Hezbollah rocket fire. Although the ceasefire was not formally announced through a single joint declaration by both parties and public statements differed in framing and characterization, a consensus of credible reporting confirmed the arrangement had been mutually agreed and implemented in practice. Despite continued isolated strikes, alleged violations, and disputes regarding compliance, credible reporting broadly treated the ceasefire as remaining operational and widescale fighting across the primary theater of the conflict did not resume. Examples of non qualifying Ceasefires: November 24, 2023 Israel–Hamas humanitarian pause: Although it was a mutually agreed and publicly announced broad suspension of hostilities across Gaza, the ceasefire framework remained in effect for only approximately 7 days before wide-scale fighting resumed, failing the required 10-calendar-day duration requirement. Ceasefire violations prior to November 30, would not have invalidated the ceasefire. July 22, 2022 Black Sea Grain Initiative: Although Russia and Ukraine entered into internationally brokered agreements governing grain exports and reducing risks to commercial shipping in the Black Sea, the arrangement did not constitute a general suspension of direct military engagement across the primary theater of the war. Hostilities continued across Ukraine throughout the duration of the agreement and the arrangement applied only to specific categories of activity and geographic areas. May 2023 Sudan ceasefires (SAF–RSF): Although the Sudanese Armed Forces (SAF) and Rapid Support Forces (RSF) publicly agreed to multiple internationally brokered ceasefires, a consensus of credible reporting indicated that the general suspension of hostilities across the primary theater never substantively took effect and large-scale fighting broadly continued throughout the ceasefire periods. While some temporary reductions in violence and localized humanitarian access reportedly occurred in certain areas, artillery fire, airstrikes, urban combat, troop movements, and offensive operations continued across major parts of Sudan almost immediately after implementation. Credible reporting broadly treated the ceasefires as having failed or collapsed in practice despite technically remaining in force on paper.
Prediction market odds on Polymarket reflect real-money incentives and trader conviction, often diverging from traditional polling on geopolitical outcomes. While polls capture public opinion snapshots, prediction markets aggregate dispersed information from participants with financial stakes in accuracy. For the Russia x Ukraine Ceasefire by...? event, market prices incorporate ongoing diplomatic signals, military developments, and expert analysis. Prediction markets typically respond faster to breaking news than polls and can reveal asymmetries in how different groups assess ceasefire probability. Comparing the two approaches provides complementary perspectives on resolution likelihood.
On Polymarket, the Russia x Ukraine Ceasefire by...? market is priced through an automated market maker mechanism where traders buy and sell outcome shares. On Polymarket, prices reflect that venue's order book, liquidity, and how traders price the outcome right now. The top outcome currently reflects a 15.5% probability of ceasefire by June 30, 2026, with volume of $1,203,582 demonstrating active participation. Prices adjust continuously as new trades occur, with larger orders moving odds more significantly. Traders can enter or exit positions at any time before the market resolves on Dec 31, 2026, allowing dynamic positioning as geopolitical conditions evolve and new information surfaces.
The Russia x Ukraine Ceasefire by...? market resolves on Dec 31, 2026. Resolution hinges on whether a formal or de facto ceasefire agreement between Russia and Ukraine is reached and verified by the specified deadline. The outcome determination considers official announcements, international recognition, and documented cessation of hostilities. Traders should monitor diplomatic channels, peace negotiations, and statements from key parties for signals indicating movement toward resolution. The market captures uncertainty around both the likelihood and timing of any potential agreement within the defined window.
Key catalysts for the Russia x Ukraine Ceasefire by...? market include diplomatic breakthroughs, multilateral peace talks, shifts in military momentum, and statements from Russian, Ukrainian, or international leaders. Economic sanctions changes, NATO positioning, and U.S. policy announcements can significantly influence ceasefire probability. Unexpected military escalations or humanitarian crises may reduce near-term ceasefire odds, while successful negotiations or mediation efforts could spike prices sharply. Media coverage of peace proposals, prisoner exchanges, or territorial discussions often precedes market moves. Traders should track geopolitical developments, intelligence reports, and official communications through Dec 31, 2026 for actionable signals.