TOTAL VOLUME:
$154.4b
24H VOL:
$235,918,089
24H TRANSACTIONS:
2,984,028,936
OPEN INTEREST:
$1,884,820,873
413,109
Markets across
40,428
events
MATCHED EVENTS:
4,364
PLATFORM COVERAGE:
5
Polymarket:
37%
VS.
Kalshi:
63%
Closed: Oct 20, 8:57 PM EST
Polymarket
Description
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.
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.
Frequently asked questions
On Polymarket, this market is priced through a continuous double auction, where traders buy and sell shares representing their belief about the outcome. The price of a share directly corresponds to the probability of the event occurring. As more traders buy shares, the price increases, indicating a higher perceived likelihood. On Polymarket, prices reflect that venue's order book, liquidity, and how traders price the outcome right now. The market’s price reflects the collective wisdom of participants, incorporating various sources of information and analysis. The current price is determined by the forces of supply and demand, constantly adjusting to new information and changing perspectives.
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 – this includes missile strikes, drone attacks, or other forms of direct military engagement. The determination will be based on publicly available information from reputable news sources and government statements. The specifics of what constitutes a 'target' will be assessed based on established definitions of military engagement and intent.
Several signals or events could significantly move this market. Escalations in regional tensions, such as attacks on U.S. forces in Iraq or Syria, would likely increase the probability of Iranian action. Similarly, heightened rhetoric from Iranian or Iraqi officials, or a breakdown in diplomatic negotiations, could also shift the market. Major geopolitical developments, like a change in U.S. policy towards Iran, or a significant shift in the internal political landscape of either country, could also influence trading activity. Unexpected military exercises or troop movements could also be catalysts.
