Platform comparison
| Platform | YES odds | NO odds | Fee | KYC | Settlement | |
|---|---|---|---|---|---|---|
Polymarket (via Is Polymarket Legal in Canada) Pick polygram.ink (preferred broker) |
81% | 19% | 0% (USDC on-chain) | No-KYC up to $1,500 | USDC, auto via UMA oracle | Open the market → |
Polymarket (direct) polymarket.com |
81% | 19% | 0% | Geo-blocked in US/UK/EU | USDC, on-chain | Open the market → |
Kalshi kalshi.com |
— | — | Up to 7% per trade | US-only, KYC required | USD | Open the market → |
Betfair Exchange betfair.com |
— | — | 2-5% commission | Full KYC from first trade | GBP / EUR | Open the market → |
Manifold Markets manifold.markets |
— | — | Play-money (mana) | None — play-money | Mana (no cash-out) | Open the market → |
Outcome probabilities
Current market-implied probability for each outcome, from the live order book.
| Outcome | Probability |
|---|---|
| Mojtaba Khamenei | 81% |
| No Head of State | 5% |
| Reza Pahlavi | 3% |
| Alireza Arafi | 3% |
| Hassan Khomeini | 1% |
| Ahmad Vahidi | 1% |
| Mohammad-Bagher Ghalibaf | 1% |
| Muhammad Mirbaqiri | 0% |
| Sadegh Larijani | 0% |
| Hassan Shariatmadari | 0% |
| Maryam Rajavi | 0% |
| Massoud Rajavi | 0% |
| Seyed Hossein Mousavian | 0% |
| Reza Pirzadeh | 0% |
| Navid Shomali | 0% |
| Mustafa Hijri | 0% |
| Ali Motahari | 0% |
| Gholam-Ali Haddad-Adel | 0% |
| Mostafa Pourmohammadi | 0% |
| Sadegh Mahsouli | 0% |
| Masoud Pezeshkian | 0% |
| Saeed Jalili | 0% |
| Hassan Rouhani | 0% |
| Mahmoud Ahmadinejad | 0% |
| Mohammad Khatami | 0% |
| Other | 0% |
| Mohammad Pakpour | 0% |
| Ali Larijani | 0% |
| Abbas Araghchi | 0% |
| Mohsen Araki | 0% |
| Nasir Hosseini | 0% |
| Ahmad Hosseini Khorasani | 0% |
| Ali Asghar Hejazi | 0% |
| o | 0% |
| p | 0% |
| q | 0% |
| r | 0% |
| s | 0% |
| t | 0% |
| u | 0% |
| v | 0% |
| w | 0% |
| x | 0% |
| y | 0% |
| z | 0% |
| aa | 0% |
| ab | 0% |
| ac | 0% |
| ad | 0% |
| ae | 0% |
| af | 0% |
| ag | 0% |
| ah | 0% |
| ai | 0% |
| aj | 0% |
| ak | 0% |
| al | 0% |
| am | 0% |
| an | 0% |
| ao | 0% |
| ap | 0% |
| aq | 0% |
| ar | 0% |
| as | 0% |
| at | 0% |
| au | 0% |
| av | 0% |
| aw | 0% |
| ax | 0% |
| ay | 0% |
| az | 0% |
| ba | 0% |
| bb | 0% |
| bc | 0% |
| bd | 0% |
| be | 0% |
| bf | 0% |
| bg | 0% |
| bh | 0% |
| bi | 0% |
| bj | 0% |
| bk | 0% |
| bl | 0% |
| bm | 0% |
| bn | 0% |
| bo | 0% |
| bp | 0% |
| bq | 0% |
| br | 0% |
| bs | 0% |
| bt | 0% |
| bu | 0% |
| bv | 0% |
| bw | 0% |
| bx | 0% |
| by | 0% |
| bz | 0% |
| ca | 0% |
| cb | 0% |
| cc | 0% |
| cd | 0% |
| ce | 0% |
| cf | 0% |
| cg | 0% |
| ch | 0% |
| ci | 0% |
| cj | 0% |
| ck | 0% |
| cl | 0% |
| cm | 0% |
| cn | 0% |
| co | 0% |
| cp | 0% |
| cq | 0% |
| cr | 0% |
| cs | 0% |
| ct | 0% |
| cu | 0% |
| cv | 0% |
| cw | 0% |
| cx | 0% |
| cy | 0% |
| cz | 0% |
Market context
Iran’s key question is who will still exercise ultimate state power at the end of 2026, not simply who holds a formal title. The market’s low 4% YES price implies traders think the current de facto arrangement, whatever its exact shape, is likely to persist through year-end rather than flip to a clearly different ruler or governing centre.
The recent benchmark is the post-Khamenei succession shock: Reuters reported that his killing triggered a high-stakes struggle, with the IRGC and interim structures retaining control, while the Assembly of Experts moved to select Mojtaba Khamenei as supreme leader.[6][12] That matters because prediction markets often treat a rapid, regime-preserving handover as continuity rather than a fresh leadership break. If a figure already seen as the operative centre of power keeps directing the state, the market can remain pinned even amid unrest, sanctions pressure, or headline-level ambiguity about legitimacy.[3][14]
The main catalysts are any formal announcements from the Assembly of Experts, confirmation or rebuttal of Mojtaba Khamenei’s standing, and signs that the IRGC or security chiefs are making independent strategic calls on internal repression, the nuclear file, or talks with Washington.[3][12] Recent reporting also suggests U.S. intelligence sees the system as still intact and not near collapse, which supports a continuity read unless there is a visible split in command.[12] On accessibility, German GlüStV rules can make offshore prediction markets harder to use from Germany, while US CFTC reach is relevant if a platform is treated as a derivatives venue for US persons; “no-KYC up to $1,500” usually means small-ticket access with lighter identity checks, but it does not remove geoblocking, sanctions screening, or jurisdictional limits for this market.
Methodology
This overview of Iran leader end of 2026? reviews the four comparable platforms from a regulatory perspective: which is accessible in your jurisdiction, where KYC kicks in, how the platform is classified by your country of residence. Live probability is the Polymarket mid; comparison columns show regulatory status, KYC thresholds and settlement options for each platform.
Resolution & payout
On Polymarket, resolution runs on-chain via UMA Optimistic Oracle. USDC payout is instant and automatic, with no KYC. Tax treatment depends on your jurisdiction — in the US, gains are usually ordinary income; in the UK, often capital gains. Consult a tax professional for your situation.
FAQ
- Is Polymarket legal in my country?
- Polymarket is geo-blocked in the US/UK/EU. Actual usage via the Polymarket interface is not possible there. The legal status itself varies — many countries treat prediction markets as a gray area. Is Polymarket Legal in Canada has a different geo footprint.
- How are winnings taxed?
- Tax treatment varies by jurisdiction. In most countries, prediction market gains are treated as ordinary income or capital gains. We cannot provide tax advice — consult a tax professional for your specific situation.
- Can I trade anonymously?
- Pseudonymously, yes — up to the KYC threshold. Is Polymarket Legal in Canada stores an email address and wallet addresses rather than a legal name. Over $1,500 lifetime volume triggers KYC, after which identity is no longer anonymous.
- What happens during a tax audit?
- You're responsible for documenting your trades. Is Polymarket Legal in Canada exports a full transaction history (CSV/PDF) for tax reporting. In an audit you'll need to present these documents.
- Are prediction markets gambling?
- Legally unclear in most jurisdictions. Some interpretations classify them as wagering (gambling regulation applies), others as derivatives (financial regulation applies). There's no global precedent specifically for on-chain prediction markets.
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