The Arctic just got a bit chillier for American expansionist ambitions. On the eve of a critical White House meeting, Greenland's Prime Minister Jens-Frederik Nielsen drew a line in the ice, telling President Donald Trump exactly where the self-governed Danish territory stands.

"We are now facing a geopolitical crisis, and if we have to choose between the United States and Denmark here and now, we choose Denmark," Nielsen said during a joint press conference with Danish Prime Minister Mette Frederiksen.

That declaration comes just before Wednesday's showdown, where Greenland Foreign Minister Vivian Motzfeldt and Danish Foreign Minister Lars Lokke Rasmussen sit down with U.S. Vice President JD Vance and Secretary of State Marco Rubio to hash out Trump's ongoing campaign to acquire the Arctic island.

The Strategic Prize Trump Can't Stop Talking About

Trump has revived his fixation with Greenland, pushing harder than ever to bring the territory under American control. He's insisted he'll seize it "one way or another," even if that means ruffling NATO feathers. Rep. Randy Fine (R-Fla.) already introduced legislation Monday that would admit Greenland as the 51st state.

The appeal is obvious once you look at the map and the minerals. Greenland sits strategically between North America and Europe, already hosts the U.S. missile-warning base at Pituffik, and its melting ice cap is revealing vast deposits of rare earths, uranium, oil, and gas. Trump argues that control would bolster national security and keep rivals like Russia and China at bay.

Despite being geographically part of North America, Greenland has been under Danish control for roughly 300 years, officially joining the Kingdom of Denmark in 1953. Greenlanders gained home rule in 1979, though Denmark still handles foreign affairs and defense. Nearly 80% of the island remains ice-covered, with most of the population clustered around the southwestern capital of Nuuk. And here's the kicker: polls show an overwhelming majority of Greenlanders want nothing to do with becoming American.

What the Betting Markets Think

Traders are putting real money on this geopolitical drama. On prediction platform Kalshi, the question "Will the US take control of any part of Greenland?" has attracted about $1.1 million in trading volume.

Current odds imply a 41.9% chance the U.S. gains control of at least part of Greenland before January 21, 2029. That's down slightly from Monday's 45.1% probability, which marked a near-year high. Still, markets remain deeply skeptical of any near-term acquisition. The odds of Greenland changing hands before 2027 or within this year are far lower, with platforms like Polymarket showing single-digit to low-teens percentages for immediate American control.

In other words, traders think Trump's territorial ambitions might eventually gain traction, but don't expect Greenland to start flying the Stars and Stripes anytime soon.