Polymarket, a cryptocurrency-based prediction market, has seen rapidly fluctuating odds regarding potential military actions involving Israel, the United States, and Iran ahead of July 2025. Initially, the probability of Israeli military action against Iran surged from around 20% to over 40%, then climbed as high as 54%, amid reports of Israeli bases on high alert and evacuation of non-essential personnel. Concurrently, the likelihood of U.S. military intervention in Iran increased sharply, rising from single digits in early June to peaks above 80%, before settling around 59-70% in mid to late June. This surge in odds coincided with aggressive statements from U.S. President Donald Trump, including calls for the evacuation of Tehran and meetings in the White House Situation Room with senior advisors. Polymarket data also indicated a 97% chance of an Iranian counterstrike against Israel within the month at one point. Additionally, the market reflected a 21% chance of Iran acquiring nuclear weapons in 2025 and a 61% probability that Iran's Supreme Leader Ayatollah Khamenei would leave office by January 2026. The volatility in betting odds reflects escalating tensions following Israeli strikes in Tehran, evacuation warnings in specific districts, and ongoing diplomatic and military developments. As of late June, the probability of U.S. military action against Iran remains elevated, with Polymarket showing odds between 62% and 70%, while the chance of the Israel-Iran conflict ending before July stands at approximately 72%. These market indicators underscore growing expectations of intensified conflict in the region in the near term.