The words that show up in every prediction market.

Event Contract

A financial contract that pays out based on the outcome of a defined real-world event.

Implied Probability

The probability of an event implied by its market price.

Limit Order

An order to buy or sell a contract at a specified price or better.

Liquidity

How easily you can enter or exit a position without moving the market price.

Market Maker

A participant who continuously quotes buy and sell prices, providing liquidity.

No Contract

A contract that pays a fixed amount if a stated event does not occur.

Order Book

The list of all open buy and sell orders for a market, organized by price.

Prediction Market

A market where people trade contracts whose payout depends on the outcome of a future event.

Resolution Criteria

The specific rules that determine how a market's outcome is decided.

Settlement

The process of resolving a market and paying out winning contracts after the event outcome is known.

Volume

The total value of contracts traded in a market over a period.

Yes Contract

A contract that pays a fixed amount if a stated event occurs.