Resolution & Settlement
Every market carries predefined rules that determine its final result. Read a market's Resolution Rules before trading it — they, not the market title, decide the outcome.
Resolution rules
A market's rules specify the conditions used to pick the winning outcome. Depending on the market that can include:
- the market question
- resolution date and time
- resolution source
- the exact conditions for YES and NO
- the reference price or data source
- how delays, cancellations, and exceptional events are treated
- any additional market-specific conditions
For Will BTC be above $100,000 at 08:00 UTC on September 30? the rules might specify:
| Field | Value |
|---|---|
| Observation time | September 30, 08:00 UTC |
| Resolution source | Binance BTC/USDT 1-hour candle close |
| YES condition | reference price above $100,000 at the observation time |
| NO condition | reference price at or below $100,000 at the observation time |
Market closing
Trading close and event resolution are two different moments. A market can stop accepting orders well before the result is known.
Resolution
Once the event has occurred and the result is confirmed against the published rules, the market is resolved.
Settlement
For a binary market:
| Your position | Resolves YES | Resolves NO |
|---|---|---|
| YES | $1 per share | $0 |
| NO | $0 | $1 per share |
In a category market, the winning outcome's shares settle at $1 and every losing outcome settles at $0.
Settlement runs automatically once the market resolves, and proceeds are credited in USDC. There is nothing to claim.
Cancelled, invalid, or unresolvable markets
Some events cannot be resolved under the original rules — for example:
- the event is cancelled
- the event is postponed
- required data is missing or unavailable
- the final result is ambiguous
- the specified resolution source fails
- the market was configured incorrectly
A market that cannot resolve normally may be cancelled or declared invalid under its own rules. How affected positions are settled or refunded follows the rules published for that market.
Resolution sources
Markets may depend on external data. Price-based crypto markets may use a specified price index, exchange price, or oracle; sports markets may use an official competition or an approved results provider. The source in force is shown in each market's Resolution Rules.