Markets
Anyone signed in can open a market. There is no approval queue, so nothing is checked before it appears. A market that breaks the rules is dealt with after it appears: anyone can report it, signed in or not, and a moderator can void it, which reverses every trade in it using new records rather than rewriting history.
A moderator can also take a reported market down. That hides it from every public page and voids each of its options that is still open, leaving anything already resolved as it was. Phonymarket cannot say when a report is read or what happens to the market it names.
- Every market needs clear, verifiable outcomes.
- Published criteria, and any source they cite, determine the result.
Trading
Trading is available only while a market is open. Prices come from an automated market maker and move as orders are accepted, so a quote is only an estimate.
Phonymarket rechecks the live market, available balance or shares, and price limit before recording a trade. Accepted trades cannot be canceled and remain in the market's history.
Outcomes
- Every market resolves YES or NO according to its published criteria.
- In an exactly-one event, one option resolves YES and every other option resolves NO. While trading is open, those option probabilities total 100%.
- If no reliable result is possible, the affected market is voided: net credit effects are reversed with new records while the original trade history is retained.
- Independent options may resolve YES together, so their probabilities do not need to total 100%.