Polymarket Overview
- What is Polymarket?
Polymarket is a betting/gambling platform that allows users to trade on predictions about future events across various topics like politics, sports, and pop culture. Users can buy or sell shares based on their forecasts of event outcomes. The price of these shares represents the real-time probability of the event occurring, as determined by market consensus.
- Main Features
- Decentralized and transparentSupports various event typesEfficient and low cost transactionsRelies on credible reporting and consensus for resultsGlobal accessibility
- Blockchains
- Polygon
Frequently asked questions
If the resolution source for a market on Polymarket is unavailable, the platform may use alternative sources to determine the outcome or involve the community in reaching a consensus. If no resolution can be achieved, the market may be voided and all trades reversed. Details on handling such situations are typically outlined in Polymarket's terms of service.
In Polymarket, users can propose outcomes for bets by initializing a market question and proposing a price through the Optimistic Oracle system. If another user disagrees with this proposal, they can dispute it, potentially escalating the issue to a community vote for resolution.
The resolution of bets depends on the specific market and its terms. There are different types of bets, such as political, sports, and global events. Each market has its own resolution criteria. For example, in the political market, the resolution may be based on official information from the government or a consensus of credible reporting. In the global events market, the resolution may be based on conclusive proof becoming public or official sources. It is important to refer to the specific market's terms and resolution source for accurate information on how bets are resolved.
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