German Chancellor Friedrich Merz will attend a Paris conference on a potential European military mission in the Strait of Hormuz. The market on the UK sending warships by April 30 sits at 11% YES, up from 10% yesterday.

Merz’s participation is a shift for European states, which have so far avoided direct involvement in the Strait of Hormuz crisis. The UK warships market has moved modestly but remains low at 11% YES, meaning traders still see a UK deployment as unlikely.

Daily trading volume is $3,410 in USDC, and it takes just $740 to move the odds by 5 points, making this market susceptible to swings from a single strategic player. The largest move in the last 24 hours was a 3-point spike, suggesting some speculative interest without a broader shift in sentiment.

Merz’s attendance could signal a new phase of European military coordination, possibly leading to multinational escorts in the strait. At 11¢, a YES share pays $1 if the UK sends warships by April 30, a nearly 9x return. That payout requires believing Merz’s diplomatic move translates into concrete UK military action within 15 days.

Watch for announcements from the UK Ministry of Defence or a joint Franco-German statement after the conference. Either would be a strong signal for this market.

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