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Will the US officially declare war on Iran by...?

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Bulls Say, Bears Say

Bulls Say

Ongoing US-Iran tensions over nuclear program keep conflict risk non-zero

Any rapid escalation in the Middle East could trigger emergency war powers

Low price means even small probability shifts create large percentage gains

Bears Say

Price trending down with no news catalysts supporting escalation

Formal war declarations are historically rare; US hasn't declared war since 1942

Diplomatic and economic pressure remain the dominant US policy tools toward Iran