TOTAL VOLUME:
$154.4b
24H VOL:
$290,393,159
24H TRANSACTIONS:
2,984,640,614
OPEN INTEREST:
$1,944,100,805
420,493
Markets across
40,511
events
MATCHED EVENTS:
4,612
PLATFORM COVERAGE:
5
Polymarket:
37%
VS.
Kalshi:
63%
Closed: Oct 14, 7:03 PM EST
Polymarket
This market will resolve to “Yes” if Iran targets Iraq through a qualifying military action between market creation and the listed date, Arabia Standard Time (AST). 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 Iran, directed at Iraq. 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. The following actions do not constitute a qualifying military action: 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. Military action that consists primarily or exclusively of munitions that are intercepted before impact will still qualify if they constitute a qualifying military action during the specified timeframe; whether the munitions were intercepted, where the munitions landed, and whether damage resulted will not be considered. A military action will be considered directed at Iraq if it is directed at the terrestrial territory of Iraq, including any internal waters. Only military actions by Iranian forces explicitly claimed by the Islamic Republic of Iran, or confirmed to have originated from Iranian territory will count toward the resolution of this market. Attacks by proxy forces (i.e. Hezbollah, Houthis, etc.) will not count toward the resolution of this market. 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 (AST) 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. At the end of the third calendar day, if conflicting reports remain, the incident will be adjudicated 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 Iran and Iraq and a consensus of credible reporting.
This market will resolve to “Yes” if Iran targets Iraq through a qualifying military action between market creation and the listed date, Arabia Standard Time (AST). 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 Iran, directed at Iraq. 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. The following actions do not constitute a qualifying military action: 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. Military action that consists primarily or exclusively of munitions that are intercepted before impact will still qualify if they constitute a qualifying military action during the specified timeframe; whether the munitions were intercepted, where the munitions landed, and whether damage resulted will not be considered. A military action will be considered directed at Iraq if it is directed at the terrestrial territory of Iraq, including any internal waters. Only military actions by Iranian forces explicitly claimed by the Islamic Republic of Iran, or confirmed to have originated from Iranian territory will count toward the resolution of this market. Attacks by proxy forces (i.e. Hezbollah, Houthis, etc.) will not count toward the resolution of this market. 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 (AST) 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. At the end of the third calendar day, if conflicting reports remain, the incident will be adjudicated 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 Iran and Iraq and a consensus of credible reporting.
Currently, the implied probability on Polymarket reflects a different perspective than many traditional analyst forecasts concerning potential escalation in the Iran-Iraq region. While some analysts predict a low probability of direct Iranian action against Iraq, this market suggests a potentially higher likelihood, depending on how traders interpret geopolitical signals. It's important to remember that prediction markets represent the collective wisdom of a diverse group of participants, while analyst forecasts rely on individual expertise and models. This market allows for a real-time assessment of risk as perceived by traders.
On Polymarket, this market is priced through a continuous exchange where traders buy and sell shares representing their belief about the outcome. The price of these shares fluctuates based on supply and demand, directly reflecting the collective probability assigned to the event. On Polymarket, prices reflect that venue's order book, liquidity, and how traders price the outcome right now. The price movements are influenced by news events, geopolitical developments, and shifts in overall market sentiment. Higher demand for shares increases the price, indicating a growing belief that Iran will target Iraq, and vice-versa.
This market resolves around Nov 1, 2026, with the outcome confirmed once the event is verifiable from credible public reporting. Resolution will depend on whether Iran directly targets Iraq with military action, including missile strikes, drone attacks, or other forms of armed engagement. The determination will be based on publicly available information from reputable news sources and governmental statements, establishing a clear record of any such targeting. The outcome will be a simple yes or no regarding whether the event occurred by the resolution date.
Several factors could significantly impact this market. Escalating tensions between the United States and Iran, particularly involving Iraq as a proxy, would likely increase the probability of Iranian action. Major political developments within Iraq, such as a change in government or increased instability, could also be catalysts. Furthermore, any direct military confrontation between Iran and Israel, or a significant attack on US forces in the region, could prompt a response from Iran targeting Iraq. Unexpected diplomatic breakthroughs or de-escalation efforts could move the market in the opposite direction.