Trump had imposed the $100,000 fee in order to restrict the program, arguing that it has undermined U.S. security through the "replacement of American workers."
Two weeks ago traders on Kalshi saw a 60% chance that the Strait of Hormuz would open before August. Now traders see a higher chance it won't open before 2027.
The U.S. House is expected to vote this week on a $70 billion measure to fund Immigration and Customs Enforcement and Customs and Border Protection after delay.
The U.S. will lean on the same playbook it did starting in the late 1950s, part of which involves releasing sterile insects to suppress the pest's population.