This market will resolve to "Yes" if there is an official ceasefire agreement, defined as a publicly announced and mutually agreed halt in military engagement, between Israel and Iran by June 20, 2025, 11:59 PM ET. Unilateral statements from either Iran or Israel that they are pausing or ending military action will not qualify if it does not reflect a mutually agreed halt in military engagement. However, a ceasefire which is publicly announced by either Iran, Israel, or a third party mediator, which is confirmed by a consensus of credible reporting will qualify. If the agreement is officially reached before the resolution date, this market will resolve to "Yes," regardless of whether the ceasefire officially starts afterward. Ceasefire agreements between Israel and any Iranian entity other than the internationally recognized government of the Islamic Republic of Iran—such as a provisional authority or opposition group in the event of civil war or revolution—will not qualify. Only ceasefires which constitute a general pause in the conflict will qualify. Ceasefires which only apply to energy infrastructure, specific locations, or other similar agreements will not qualify. Any form of informal agreement will not be considered an official ceasefire. Humanitarian pauses will not count toward the resolution of this market. This market's primary resolution will be based on official announcements from Israel and Iran. However, a publicly announced ceasefire which is confirmed by a wide consensus of credible media reporting stating an official ceasefire agreement between Iran and Israel has been reached will suffice.