What if Iran proxy network rolled back across the region?
Degraded Hezbollah, Houthi and militia capabilities shrink Iran's forward threat, structurally lowering the regional war premium and the oil-risk tail.
how we built this number — every step
The class rate is measured from our dated, sourced event library (decade-normalized Poisson — the full table is public at base_rates.json). The variant’s share within its class is the analyst’s editorial call, published so you can audit it. A wider range means thinner precedent. Full recipe: methodology · scored at Reality Check.
The butterfly cascade
How this trigger trickles across markets, left → right — the root shock, its first‑order moves, then the ripple effects. Drag any node; tap a market for its real price history.
Resolution timeline — how this probability is moving
Our model's odds (gold) over time vs the crowd's (Polymarket, blue), from the past toward the 6–18 months horizon. Each dot is a real macro event that nudged the probability — green pushed it up, red pushed it down. Tap a dot for the source. The gold path is an illustrative reconstruction anchored to today's estimate — real dated events, not a live re-estimate history.
What it would mean
If this plays out, it is a risk-on shock. Degraded Hezbollah, Houthi and militia capabilities shrink Iran's forward threat, structurally lowering the regional war premium and the oil-risk tail. The trigger decomposes into signed root‑shocks — Defense spending ▼ · Geopolitical risk ▼ · Oil supply risk ▼ · Risk appetite ▲ — which propagate through our causal graph to the markets below.
If it happens — the markets it would move
Biggest moves first. Projected moves are cascade-model priors; hist A–B% = what comparable past events actually did (measured abnormal returns), and model prior · unmeasured marks markets with no analogue backing yet. Tap any market for its price history.
| Market | Class | Projected move | |
|---|---|---|---|
| 1 | Volatility (VIX) VIXon Hyperliquid 📈 chart | Vol | ▼ -6.6% hist -4.07–-1.7% · other way -2.29% (n=10) |
| 2 | Nasdaq 100 NDXon Hyperliquid 📈 chart | Index | ▲ +2.7% hist +0.95–+1.86% · other way +0.16% (n=10) |
| 3 | Tech sector XLK 📈 chart | Equity | ▲ +1.9% hist +0.47–+1.85% · other way -0.12% (n=9) |
| 4 | Brent crude BRENTon Hyperliquid 📈 chart | Commodity | ▼ -1.8% hist -5.06–+1.72% · other way -0.68% (n=9) |
| 5 | WTI crude CLon Hyperliquid 📈 chart | Commodity | ▼ -1.5% hist -6.59–+3.25% · other way -3.79% (n=9) |
| 6 | S&P 500 SPXon Hyperliquid 📈 chart | Index | ▲ +1.4% hist -0.07–+2.11% · other way -3.81% (n=12) |
| 7 | MicroStrategy MSTRon Hyperliquid 📈 chart | Equity | ▲ +1.3% hist -4.94–+9.69% · other way -5.83% (n=9) |
| 8 | Semiconductors SMHon Hyperliquid 📈 chart | Equity | ▲ +1.3% hist +0.55–+1.15% · other way -1.35% (n=9) |
| 9 | Solana SOLon Hyperliquid 📈 chart | Crypto | ▲ +1.2% hist +0.08–+1.44% · other way -1.9% (n=5) |
| 10 | Hyperliquid (HYPE) HYPEon Hyperliquid | Crypto | ▲ +1.0% model prior · unmeasured |
| 11 | Energy sector XLEon Hyperliquid 📈 chart | Equity | ▼ -1.1% hist -2.33–+0.5% · other way -0.76% (n=9) |
| 12 | Ether ETHon Hyperliquid 📈 chart | Crypto | ▲ +0.9% hist -1.09–+1.28% · other way -3.92% (n=7) |
| 13 | Lockheed LMT 📈 chart | Equity | ▼ -0.8% hist -0.93–-0.07% · other way +2.19% (n=12) |
| 14 | Bitcoin BTCon Hyperliquid 📈 chart | Crypto | ▲ +0.8% hist +0.34–+0.75% · other way -2.54% (n=8) |
Probable recommendation
Historical precedent — what analogous events actually did
Across 23 analogous events (overlap‑weighted), as abnormal returns — market beta stripped, so it's the event's own effect, not the market backdrop. Shown at 20 days (persistent) and 5 days (immediate); ↺ fades = the two horizons disagree. Confidence = consistency × sample × significance.
| Asset | History says | Abnormal (20d · 5d) | Hit | n | Confidence | vs cascade |
|---|---|---|---|---|---|---|
| COIN COIN | LONG | +15.1% · 5d +5.5% | 88% | 8 | 0.62 | ✓ matches cascade |
| AUD AUD | SHORT | -1.7% · 5d -0.7% | 83% | 12 | 0.52 | ⚠ differs |
| EURUSD EURUSD | SHORT | -1.0% · 5d -0.3% | 83% | 12 | 0.49 | ⚠ differs |
| AVGO AVGO | LONG | +3.5% · 5d -0.5% ↺ fades | 75% | 12 | 0.46 | ✓ matches cascade |
| KRW KRW | SHORT | -1.1% · 5d -0.9% | 75% | 12 | 0.44 | ⚠ differs |
| High-yield credit HYG | SHORT | -1.2% · 5d -0.3% | 75% | 12 | 0.40 | ⚠ differs |
| TRY TRY | SHORT | -1.4% · 5d +0.9% ↺ fades | 75% | 12 | 0.32 | ⚠ differs |
| ETH ETH | SHORT | -1.6% · 5d -3.0% | 73% | 11 | 0.31 | ⚠ differs |
| US dollar DXY | LONG | +0.1% · 5d +0.4% | 67% | 22 | 0.30 | ⚠ differs |
| UAL UAL | LONG | +5.8% · 5d -0.2% ↺ fades | 67% | 12 | 0.29 | ✓ matches cascade |
| DAL DAL | LONG | +3.4% · 5d -0.1% ↺ fades | 67% | 12 | 0.28 | ✓ matches cascade |
| INR INR | SHORT | -0.2% · 5d -0.2% | 67% | 12 | 0.25 | ⚠ differs |
| NOC NOC | SHORT | -0.5% · 5d -0.1% | 62% | 22 | 0.21 | ✓ matches cascade |
| SPX SPX | LONG | +1.3% · 5d +0.6% | 60% | 22 | 0.19 | ✓ matches cascade |