The U.S. and Israel conducted strikes on Iran on Saturday, which killed Iran's Supreme Leader, Ayatollah Ali Khamenei, along with several other senior leaders.

Both sides continue to attack each other, with there being no signs of a ceasefire anytime soon. With the death of the Supreme Leader and several senior leaders, the regime's fate is unclear.

Here's What Prediction Market Thinks

Polymarket, a Polygon (CRYPTO: POL) based prediction platform that allows users to wager on an outcome using the USDC (CRYPTO: USDC) stablecoin, is currently betting on a contract "Will the Iranian regime fall by June 30?"

Over $5.7 million has been bet on the contract so far.

As per bettors, the chances of the Iranian regime falling by June 30 are 36%, up by 20%. It has, however, fallen from its peak of 49% on Mar. 1.

As of writing, a user “Curseaaaaaaaa” was holding 694,850 shares of “Yes,” and user “AML” was holding 383,000 shares of “No,” making them the biggest backers of each option.

Iran Closes Strait Of Hormuz

Iran on Monday escalated tensions after it closed the Strait Of Hormuz, and said it would fire on any vessel attempting to pass.

The Strait of Hormuz is an essential trading route and around one-fifth of the global oil consumption passed through the waterway last year.

Trump Warns Of ‘Big Wave'

President Donald Trump, in an interview with CNN, cautioned that a “big wave” of military action is still ahead in Iran.

When Will US-Iran Agree To A Ceasefire?

A separate contract on Polymarket is betting on when the U.S. and Iran will agree to a ceasefire. The contract, which has seen action worth over $7.5 million, thinks that a ceasefire won't happen anytime soon.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.