US-Iran Strait of Hormuz talks progressing, says Energy Secretary Wright

US Energy Secretary Chris Wright said negotiations with Iran over the Strait of Hormuz are progressing. Diplomatic meeting odds by April 30 sit at 19.8%, down from 22% yesterday.

Wright made the comments on Fox News, claiming the US is close to a deal with Iran. This generated some activity in the April 30 diplomatic meeting market, but not enough to reverse the recent downtrend. The drop from 22% to 13% in 24 hours shows traders are skeptical about actual progress.

A diplomatic breakthrough could also affect the Trump’s military operations market, since reduced military tensions would raise the likelihood of Trump announcing an end to operations. Related markets haven’t moved, which suggests traders doubt a quick resolution.

Daily trading volume in the diplomatic meeting market is $5,026 in USDC, with $283 depth to move the price 5 percentage points. That thin liquidity means a single large trade could swing odds significantly, a real risk for anyone betting on an imminent meeting. The largest recent spike, a 6-point move at 7:32 PM yesterday, shows how sensitive the market is to new information.

Wright’s optimism lacks concrete details or confirmations, making it more noise than signal. Buying YES at 19.8¢ pays 7.7x if a meeting occurs, an attractive return if you believe the talks are real, but speculative given current data.

Watch for the outcome of upcoming talks in Islamabad, Pakistan, scheduled for April 20. A confirmed meeting would likely drive a sharp move in odds, particularly if US negotiators meet directly with Iranian counterparts.

Get prediction market intelligence as a structured API feed. Early access waitlist.