How Markets Work

Prediction markets trade outcome shares. Most public markets you see in the app are Polymarket markets, shown with current prices, volume, liquidity, status, rules, and event context when available.

Yes and No positions

In a binary market:

• A Yes share gains value if the market resolves Yes.
• A No share gains value if the market resolves No.
• The winning side can generally redeem for $1 per winning share after resolution.
• The losing side can become worth $0.

Multi-market events can contain many related individual markets. For example, an event title can describe the overall topic while each market row represents one candidate, team, temperature, date, or outcome.

Prices

Prices are usually displayed as cents or percentages. A Yes price of $0.42 roughly maps to 42% market-implied probability for Yes. You may not trade at the displayed midpoint; buys usually interact with asks and sells usually interact with bids.

Volume and liquidity

Volume is how much has traded. Liquidity and order-book depth are about how much can trade near the current price. High volume does not guarantee your order will fill at the price you expect. Thin books can move quickly, partially fill, or fail to fill.

Market states

• Open: trading is available if your account and wallet are ready.
• Active: the market is live and still accepting activity.
• Ending Soon: the close time is near.
• Closed: trading has stopped or the market is no longer taking orders.
• Resolved: the outcome has been determined.
• Claimable: you may have winning shares that can be claimed or redeemed.
• In Review: the outcome or market data may need extra review before normal settlement or display.

Always read the market rules, especially the resolution source, end date, and edge cases.

Next: Browsing Markets, Trading, and Market Resolution.