The near-term potential for iodine propellant in Hall thrusters is explored. The merits of iodine with respect to other propellants are presented. Recent performance measurements are summarized, and new measurements taken with an 8 kW thruster are presented. Thruster discharge power exceeded 10 kW, and peak measured anode efficiency exceeded 65%. Spacecraft interactions issues are also addressed and relevant data taken with a 1 kW thruster are presented. Plume data showed lower divergence with iodine than with xenon, and that a plume shield could effectively attenuate the far field plume. Material samples placed in the plume showed a strong reaction with iron, but little reaction with typical spacecraft materials. System level benefits, including low storage pressure and extremely high density, are also discussed. All results so far indicate iodine is a viable propellant for electric rockets, and for some missions is superior to xenon.