Market hierarchy

Series → Events → Markets

Series        BTC-5MIN            recurring family ("BTC 5-minute close")
  └─ Event    …T0900             one resolvable question at a strike time
       └─ Market  …T0900-Y       one tradable YES/NO contract

• Series — a recurring template that spawns many events over time, identified by a series_ticker.
• Event — a single question resolving at a strikeDate, identified by an event_ticker. When mutuallyExclusive is true, exactly one of its markets resolves YES.
• Market — a tradable YES/NO contract with its own order book, identified by a ticker. This is what you place orders against.

Pricing & settlement

Contracts trade in dollars from 0.01 to 0.99. The price equals the market's implied probability — a YES contract at 0.54 implies a 54% chance. On resolution the winning side settles at 1.00 and the losing side at 0.00.

Buying YES and buying NO are two sides of the same book: a YES buyer at 0.54 matches a NO buyer at 0.46 (the two sum to 1.00).

Market lifecycle

A market moves through a fixed set of statuses:

DRAFT → ACTIVE → SUSPENDED → CLOSED → RESOLVED

• ACTIVE — open for trading.
• SUSPENDED — temporarily halted; no new matches.
• CLOSED — past its close date, awaiting resolution.
• RESOLVED — outcome decided; positions settled and paid out.

Money & precision

All monetary values — prices, balances, P&L — are serialized as decimal strings (e.g. "0.54", "1000.00") to avoid floating-point rounding. Parse them with a decimal-safe library, not a native float, before doing arithmetic.