Kalshi traders think gas prices will stay higher for longer as U.S.-Iran tensions heat back up

AI Summary

Traders using the Kalshi prediction market expect gas prices to remain elevated due to renewed U.S.-Iran tensions and uncertainty around traffic in the Strait of Hormuz. The geopolitical situation is significantly impacting energy market expectations.

With the U.S. and Iran exchanging strikes once again — and the return of normal traffic flows in the Strait of Hormuz in doubt — traders on prediction market platform Kalshi think gas prices will likely still be elevated for longer now. Speculators think there’s a 75% chance that gas prices on Election Day, Nov. ...