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A quick reference for every term that appears in the docs or the app.

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Markets

A question with two or more sides, where the winner is decided by which side attracts and holds the most support. Different from a prediction market, which waits on a real-world result.
One of the options in a market. Each side has its own price, its own chart, and its own community. (You may also see this called an “outcome.”)
A market with exactly two sides. Yes/no, for/against, team A / team B.
A market with three or more sides. Useful when a debate has genuine multiple tribes.

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Trading

A unit of your position on a side. Buying into a side gets you shares; selling gets rid of them. Your final payout depends on how many shares you held and for how long.
How much a share of a side costs right now. Prices move with buys and sells — more buys push it up, more sells push it down. See how prices work.
A small extra cost on selling the losing side once the market has opened up. Flows into the prize pool.

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Lifecycle

The earliest part of a market. Small trades move the price the most. This is where early conviction has maximum leverage.
The process of deciding the winner — holding a lead through a confirmation window. See resolution.
The stretch of time a leading side has to hold its lead to win. The window resets and extends every time the other side catches up.
Once a market resolves, payouts are calculated and winners can claim. That’s settlement.

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Payouts

The money paid out to winners when a market resolves. Funded by the losing side and accumulated fees.
Your slice of the prize pool, calculated as shares held multiplied by time held, across the full life of the market.
Collecting your winnings after a market resolves. See payouts.

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People

The user who opened a market. Earns a portion of trading activity. See for creators.
One of the biggest position-holders on a given side. Surfaced on every side’s leaderboard.
Someone who tries to flip a market with a late trade. Morfi’s resolution rules reset the clock on flips, making sniping structurally unprofitable.