> ## Documentation Index
> Fetch the complete documentation index at: https://docs.futuur.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Events & Markets

> Understand events, binary markets, and long/short positions in Futuur.

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.

<Note>
  The API uses the term `markets` for what were previously called "Outcomes" in older versions of the API. Events were previously called "Questions."
</Note>

## Events

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

| Field | Description |
| - | - |
| `id` | Unique identifier |
| `title` | The prediction question |
| `slug` | URL-friendly identifier |
| `status` | Current state: `open`, `stopped`, `resolved`, `cancelled`, `paused`, or `reversed` |
| `category` | Array of category objects the event belongs to |
| `markets` | Array of outcome markets |
| `bet_end_date` | When betting closes |
| `resolve_date` | When the event was resolved |
| `markets_correlation` | How markets relate to each other (see below) |
| `description` | Full question details and resolution criteria |

### Event statuses

<AccordionGroup>
  <Accordion title="open">
    The event is active and accepting bets. You can place, modify, and cancel orders.
  </Accordion>

  <Accordion title="stopped">
    Trading has stopped — `bet_end_date` has passed — but the event has not yet resolved. No new orders are accepted.
  </Accordion>

  <Accordion title="resolved">
    The outcome has been determined. Winning wagers are paid out and losing wagers are settled. The event is read-only.
  </Accordion>

  <Accordion title="cancelled">
    The event was cancelled and will not resolve normally.
  </Accordion>

  <Accordion title="paused">
    Trading is temporarily paused on this event.
  </Accordion>

  <Accordion title="reversed">
    A previous resolution was reversed.
  </Accordion>
</AccordionGroup>

### Markets correlation

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

<CardGroup cols={2}>
  <Card title="Linked prices" icon="link">
    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.
  </Card>

  <Card title="Independent" icon="unlink">
    Markets operate independently. Each market's price is calculated separately, and betting on one market does not affect others.
  </Card>
</CardGroup>

The correlation type determines how prices are calculated and how bets impact market dynamics within an event.

## 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:

| Field | Description |
| - | - |
| `id` | Unique identifier |
| `title` | The outcome name |
| `price` | Current probability (0 to 1) |
| `status` | Market status |
| `volume` | Total trading volume |

## Long vs short positions

When placing an order, you specify a **position**:

| Position | Description |
| - | - |
| `long` | You believe this outcome **will** happen. You profit if the market resolves to Yes. |
| `short` | You believe this outcome **will not** happen. You profit if the market resolves to No. |

For a binary market (Yes/No), going long on "Yes" is equivalent to going short on "No".


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