President Donald Trump warned Iran amid the ongoing unrest and downplayed the role of exiled Crown Prince Reza Pahlavi in any possible regime change.

Trump Warns Iran, Signals Hands-Off Stance

On The Hugh Hewitt Show on Thursday, Trump addressed the recent protester deaths in Iran, attributing them to crowd control issues. He warned Iran that there would be consequences if such incidents continued, but he did not specify what these consequences would be.

“That if they do that, they’re going to have to pay hell,” says Trump.

When asked about meeting with opposition figure Pahlavi, Trump called him a “nice person” but expressed uncertainty, stating that it may not be “appropriate” at this time. At the same time, for regime change, Trump suggests allowing events to unfold without intervention and seeing who ultimately rises to the forefront.

Pahlavi leads the monarchist wing of Iran’s divided opposition, also backed by Israel, but Trump’s remarks indicate Washington could be skeptical about supporting his bid to head a post-regime transition if Iran’s current system falls.

Iran Protests Fuel Unrest And Market Bets

The Iranian government recently imposed a nationwide internet shutdown in response to the protests, drawing international attention and criticism from exiled opposition figure Reza Pahlavi. Notably, Pahlavi thanked Trump for reaffirming his commitment to hold the regime accountable and called on European leaders to take action.

Meanwhile, wagering on Iran’s Supreme Leader Ayatollah Ali Khamenei losing power has surged dramatically on Polymarket as anti-regime protests entered their 12th day. The trade volume for the “Khamenei out as Supreme Leader of Iran by January 31?” bet has spiked to $4.7 million, making it one of the most popular bets on the platform.

Trump’s comments also follow a warning from Iran against potential U.S. intervention in the protests. Trump had previously stated that the U.S. would come to the aid of Iranian protesters if the Iranian government resorts to violence.

Price Action: Oil prices slid nearly 20% in 2025 due to oversupply and weak demand. Iran’s continuing protests and internal unrest, as well the developments in Venezuela, remain a geopolitical risk that could still unsettle global energy markets. When last checked, WTI Crude was trading 1.09% higher at $58.39 per barrel.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.