This study explores iberdomide, a drug for treating smoldering multiple myeloma (SMM), a type of blood cancer. SMM is a stage where abnormal cells are present but symptoms are not severe. Iberdomide might help the immune system fight cancer cells and slow the disease. The study also involves dexamethasone, a synthetic steroid that can help reduce inflammation and is often used in cancer treatment. **Key Points:** - **Study Duration:** Participants take iberdomide alone or with dexamethasone over several 28-day cycles. After treatment, follow-up visits occur for up to 6 months. - **Eligibility:** Candidates must have intermediate or high-risk SMM, meet specific health criteria, and agree to use contraception to prevent pregnancy during the study. - **Safety:** Participants should have no other major illnesses, and the study will monitor for side effects. Risks include changes in blood counts and potential liver damage. Participants should understand and sign a consent form, and they must be willing to attend regular study visits and follow the study's rules.