Can I jailbreak the Verizon iPhone 4?

Yes, the Verizon CDMA iPhone 4 can be jailbroken using the same tools as the AT&T GSM iPhone 4. The Verizon iPhone shipped with iOS 4.2.6 installed.

You can jailbreak your iPhone with PwnageTool from the iPhone Dev-Team or GreenPois0n which was released by Chronic Dev Team. Using either one of these jailbreak solutions results in an untethered, jailbroken Verizon iPhone 4.