Question 1

Shares, prices and chances

Accepted Answer

A share of the right outcome pays $1. Its price, from 1¢ to 99¢, is the chance the market gives that outcome.

Question 2

Market and limit orders

Accepted Answer

A market order buys at the best price now; a limit order waits in the book at your price until someone matches it.

Question 3

Selling before the result

Accepted Answer

You can sell your shares at any time while the market is open, to take a profit or cut a loss.

Question 4

How markets are settled

Accepted Answer

When the result is final, each winning share pays $1 automatically. The source of the result is stated in each market's rules.

Question 5

Cancelled markets and refunds

Accepted Answer

If a market is cancelled, open orders are refunded and every share is redeemed at $0.50.

Question 6

My order was not placed

Accepted Answer

Usually the balance was too low, the price moved, or trading on the market has stopped.