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An event is a prediction question that you can bet on — for example, “Who will win the 2024 US Presidential Election?” or “Will Bitcoin exceed $100,000 by end of year?” Each event has one or more markets, which are the outcomes you can trade.
The API uses the term markets for what were previously called “Outcomes” in older versions of the API. Events were previously called “Questions.”

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Events

An event defines the question, the resolution criteria, and the timeframe. Key fields on an event object include:

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Event statuses

The event is active and accepting bets. You can place, modify, and cancel orders.
Trading has stopped — bet_end_date has passed — but the event has not yet resolved. No new orders are accepted.
The outcome has been determined. Winning wagers are paid out and losing wagers are settled. The event is read-only.
The event was cancelled and will not resolve normally.
Trading is temporarily paused on this event.
A previous resolution was reversed.

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Markets correlation

The relationship between markets within an event is defined by markets correlation:

Linked prices

Markets are correlated. The sum of all market prices equals 1, and placing a bet on one market automatically affects the prices of other markets in the same event. This is the default correlation type.

Independent

Markets operate independently. Each market’s price is calculated separately, and betting on one market does not affect others.
The correlation type determines how prices are calculated and how bets impact market dynamics within an event.

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Markets

A market represents a single tradeable outcome within an event. For example, in an election event, each candidate would be a separate market. Key fields on a market object include:

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Long vs short positions

When placing an order, you specify a position: For a binary market (Yes/No), going long on “Yes” is equivalent to going short on “No”.