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Morfi doesn’t need a referee. Markets resolve themselves, based on which side can hold a lead long enough to prove it wasn’t a fluke.

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Hold the lead, win the market

Once a market opens up, one side is in front. To win, that side has to hold its lead for a full confirmation window without the other side catching up. If the trailing side closes the gap before the window ends, the window resets and extends. The longer the fight drags on, the longer the leader has to hold. This keeps markets tense all the way to the end. Late surges matter. Comebacks are real. No single trade decides everything.

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Why this design

Two problems plague traditional prediction markets:

Referees are slow and disputable

Waiting for a real-world source of truth delays payouts and invites arguments. Morfi skips the referee — the market itself decides.

Snipers ruin the game

If a market can be flipped by a big last-minute trade, earlier participants get punished for conviction. Morfi’s window resets on flips, so sniping gets expensive.

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Anti-sniping is the point

A well-timed attack right before resolution doesn’t end the market. It forces it to extend. The attacker has to keep defending their new position for the full window. In practice, this makes sniping expensive and conviction cheap.

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Trading during resolution

Both sides can still trade during the resolution window. Activity often peaks here — rally chats, top-holder shifts, and the live feed all spike into the final minutes. The last stretch before a market resolves is designed to feel like a title fight decision.
Resolution windows are where Morfi feels most alive. Watch the clock, watch the chart, watch who’s holding. The last five minutes often decide everything.

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Frequently asked

Enough to be meaningful — the exact threshold is set per market. It’s large enough that noise doesn’t trigger resolution, but small enough that sustained support can close the gap.
A set period — minutes to hours depending on the market. The window resets and extends every time the other side catches up, so fights can run long.
They can still trade — but selling out costs a small premium, which flows into the prize pool for the winning side.
In theory yes, if the two sides keep flipping. In practice, one side eventually runs out of conviction or cash and the other holds long enough. That’s the point.

Next: payouts

How winners get paid.