Lacuna · Research Desk

The gap between the price and the argument.

Short, opinionated editorials on prediction markets. We pair frontier AI with sharp human editors to weigh everything a market is pricing — market data, news flow, on-chain signals, and the conversation moving the trade — then pick a side, cite our sources, and update the call in public when the evidence moves.

23
analyses
10
Yes calls
13
No calls
6h ago
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khamenei.ir / CC BY 4.0
geopolitics Geopolitics Lead story

Shattered Army, Stubborn Regime

On Polymarket: Will the Iranian regime fall before 2027?

Iran's military is wrecked and its population is furious, but a broken army and a fallen regime are not the same thing — and 19¢ on YES is still too generous.

Lacuna's call No
19¢ Polymarket YES

The June Cut Thesis Is Dead

With CPI at a four-year high, an Iran-driven oil shock still burning, and bond markets pricing zero 2026 cuts, a 91% probability on a June Fed cut is the clearest mispricing we see right now.

No 91¢
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macro Yes

Brent at $140 makes June moot

The Hormuz chokepoint, a downed US pilot, and tankers sitting idle have structurally broken the pre-war oil pricing regime through at least June.

100¢ Oil
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macro Yes

Hormuz closed the book on April WTI

With Brent already above $140 and the Strait of Hormuz actively disrupted, WTI hitting its April threshold is not a question — it is a settled fact the market is pricing at 99.9 cents.

100¢ Oil
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politics Yes

Keiko cleared round one. Markets haven't.

Keiko Fujimori locked up a comfortable first-place finish in round one, and at 26¢ the market is still pricing ghosts of 2016 rather than a three-way scramble for second that fractures the anti-fujimorismo coalition.

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