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: a moderator can void it, which reverses every trade in it using new records rather than rewriting history.
- 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%.