Cryptocurrency bettors are pricing in higher odds on Iran closing its airspace for commercial flights after renewed attacks in the Strait of Hormuz challenged the ceasefire.

Will Peace Be Short-Lived?

Polygon (CRYPTO: POL)-based Polymarket showed a 52% possibility that Iran initiates a “major closure” of its airspace, up from 42% the day before.

A “major closure” is defined as a broad closure, cancellation, or suspension of commercial flights transiting, arriving in, and departing from Iranian airspace or a major Iranian Airspace region. Limited cancellations, delays or other partial closures will not qualify.

Over $3.70 million has been wagered on the outcome, making it one of the…

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