Iran charges Hormuz fees by October 31 priced at 3.4% on Polymarket, down 4.7 points, on $671K traded

The Polymarket contract on whether Iran will charge Hormuz fees by October 31 was priced at 3.4%, down 4.7 probability points, with $671K traded, in the supplied market update published Oct 23, 2026 at 11:24 PM ET.

According to PredictionBubbles, the contract appeared among declining political markets in its political/geopolitics category. That placement records a shift in trader pricing; it does not establish whether Iran has taken any action on fees.

What the board measures

PredictionBubbles ranks moves by their absolute size over 24 hours, using probability points rather than relative percentage changes. It draws prices from Polymarket and Kalshi and updates every 15 minutes. The supplied page identifies its venue-data snapshot as 24 Oct 2026, 03:03 UTC.

According to PredictionBubbles, volume and liquidity provide context but do not determine a market’s position in the movement ranking. The $671K traded figure therefore describes a separate dimension from the Hormuz contract’s 4.7-point decline; the supplied headline does not specify the period covered by that volume.

Limits of the available reporting

The supplied source excerpt explains the board’s methodology but does not reproduce the Hormuz contract’s individual listing, settlement criteria or probability history. It also identifies no announcement or other event as the cause of the decline. The available material supports a report of repricing, not an explanation of what drove it.

What it means for prediction markets

• Low probability is not certainty: The 3.4% price reflects a low market-implied likelihood of the specified outcome, rather than confirmation that it will not occur.
• The decline is measured in points: The reported change is 4.7 probability points, not a 4.7% relative fall.
• Turnover does not establish depth: The $671K traded figure alone does not show current liquidity or how much trading accompanied the decline.
• Settlement details remain important: Without the contract’s rules, the supplied material does not establish precisely what conduct would qualify as charging Hormuz fees by October 31.