Iran re-closes Strait of Hormuz, raising military stakes

Iran’s Supreme Leader Mojtaba Khamenei announced the country’s navy is ready to inflict “new bitter defeats” on its enemies after Iran re-closed the Strait of Hormuz. The UK warship deployment market on Polymarket sits at 6% YES for deployment by April 30.

The UK warship deployment market is unchanged at 6% YES, down from 12% a week ago. It takes $478 to move the price 5 percentage points, which points to a thin order book. Daily USDC volume is at $2,086.

Khamenei’s statement and the strait closure raise the military stakes, but the market has barely moved. Traders appear to be waiting for concrete actions from the UK Ministry of Defence or allied navies rather than pricing in rhetoric. The low daily volume confirms limited conviction on either side.

For traders, the question is whether Iran’s posture forces the UK’s hand within the next 14 days. A YES share at 6¢ pays $1 on successful deployment, a potential 16.7x return. That bet requires significant geopolitical developments before the April 30 deadline.

Watch for UK Defence statements, allied naval movements near the Persian Gulf, and further Iranian military actions. Any confirmation of UK warship movements toward the strait would be the clearest signal.

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