> For the complete documentation index, see [llms.txt](https://polymarketguide.gitbook.io/polymarketguide/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://polymarketguide.gitbook.io/polymarketguide/case-studies/did-thailand-strike-cambodia/what-happened.md).

# What Happened?

The following timeline outlines how the events unfolded (Eastern Time).

<table data-search="false"><thead><tr><th width="206.300048828125">Time</th><th>Event</th></tr></thead><tbody><tr><td>July 24 at 5:40 am</td><td>Thailand confirms airstrikes on Cambodia</td></tr><tr><td>July 24 at 1:00 pm</td><td>Polymarket creates <em>Thailand strikes Cambodia</em> markets</td></tr><tr><td>July 25 at 1:30–3:03 am</td><td>Emerging reports surfacing that Thailand struck Cambodia</td></tr><tr><td>July 25 at 3:03 am</td><td>Thai government denies Cambodia allegations of Thai strikes on the Preah Vihear Temple</td></tr><tr><td><strong>July 25 at 5:52 am</strong></td><td>Cambodia's Lieutenant General claims that Thailand struck Cambodia at 1:30 am. Southeast Asian media outlets circulate the statement.</td></tr><tr><td>July 25 at 10:57 am</td><td>Reuters confirms via on-ground reporting of Thailand strikes. A few hours later, The Wall Street Journal and Janes reference Cambodia's Lieutenant General's statement.</td></tr><tr><td><strong>July 26 at 12:00 am</strong></td><td>Market proposed as "No"</td></tr><tr><td>July 26 at 1:54 am</td><td>Proposal disputed</td></tr><tr><td><strong>July 26 at 4:52 am</strong></td><td>Second proposal of "No"</td></tr><tr><td>July 26 at 5:40 am</td><td>Second proposal disputed</td></tr><tr><td><strong>July 26 at 11:14 am</strong></td><td>Thai government report confirming airstrikes from July 24–25 surfaces. Market spikes to 99¢.</td></tr><tr><td>July 26 at 7:00 pm</td><td>Polymarket clarification</td></tr><tr><td>July 26 at 7:03 pm</td><td>Thailand strikes Cambodia by July 31? proposed as "Yes"</td></tr><tr><td>July 26 at 8:00 pm</td><td>Voting begins</td></tr><tr><td>July 26 at 9:03 pm</td><td>Thailand strikes Cambodia by July 31? proposal of "Yes" accepted</td></tr></tbody></table>

### Market Price Action

There were three key instances of volatile price action.

**The first spike** occurred after the Cambodia press conference. The price rose from **30¢** to **67¢**.

**The second spike** followed shortly after the proposal was disputed. The price climbed from **5¢** to **14¢**.

**The third spike** followed the Thai government's statement. The price surged from **12¢** to **99¢**.

**Despite these sharp moves**, the market traded below **50¢ for most of its duration**, reflecting a lack of strong consensus among traders. Additionally, the third spike occurred **around noon on July 26**, well after the **market deadline of July 25 at 11:59 pm.**

<figure><img src="https://3511841878-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FwmHFi7NV8gmAN3L4jVKb%2Fuploads%2Fgit-blob-4e32f44994b614d3a4bc81562503aa6d702181fa%2Fimage%20(505).png?alt=media" alt=""><figcaption></figcaption></figure>

#### Coming Up

With the timeline of events explained, we can now turn to the arguments on both sides, starting with the case for a "Yes" resolution.