Iran warns of full-force retaliation if ceasefire collapses

Iran’s FARS news agency warned of full-force retaliation if the current ceasefire collapses. The US x Iran ceasefire by April 21 market sits at 17% YES.

The April 22 market moved to 26.5% YES, up from 12% a week ago. The April 30 odds climbed to 44.5% YES, suggesting traders expect any resolution to take longer.

The Iran military action against Israel by April 30 market remains at 100% YES. Trading volume there is negligible, which points to settled consensus rather than active speculation.

Trading volume for the ceasefire market is $699,190 in USDC over the last 24 hours. The order book shows $16,401 is needed to move the April 22 market 5 percentage points, indicating moderate liquidity. The largest move was a 4-point spike at 12:18 AM.

Iran’s threat adds strain on already tense ceasefire negotiations. At 8¢, a YES share for an April 21 ceasefire pays $1 if it happens, a 12.5x return. That bet requires confidence in a sudden diplomatic breakthrough within five days.

Watch for statements from CENTCOM or shifts in naval posture. The next Pentagon briefing could signal US strategic adjustments that move these markets.