Prediction markets borrow words from trading, betting and statistics, and the same term can mean slightly different things on two platforms. New users often lose money on a misread word long before they lose it on a wrong forecast.
Eleven terms cover the core of how these markets work, from the share itself to the moment a market resolves. Each one maps to a number or a rule on the market page.
Below: eleven prediction market terms grouped by stage, each with a short definition and a worked example, followed by a quick-reference table.
Terms for the Trade Itself
The first group describes what you buy and what the price tells you.
1. Share
Shares are the unit of a prediction market. Correct shares settle at $1 and wrong ones at zero, so Yes bought at 40 cents earns 60 cents on a correct call.
2. Implied Probability
Share prices double as probabilities. At 40 cents, Yes signals a crowd estimate close to 40%, and that estimate shifts with every trade.
3. Pair Sum
Pair sum adds the Yes and No prices on one question. Any sum above 100 cents shows the cost built into the market. On Dexsport, sampled pairs summed to 101 or 102 cents, a cost of roughly one or two cents per pair.
4. Multi-Outcome Market
Multi-outcome markets ask one parent question with several Yes or No rows, such as Bitcoin price targets for the year. Each row trades on its own, so the rows need not add up to 100%. Our explainer on price ladders shows how those rows relate.
Terms for Market Depth
The second group explains how much can trade, and at what cost.
5. Liquidity
Liquidity measures how much money can change hands near the current price. With plenty of it, a big order fills near the quoted figure; with little, each share bought costs more than the last.
6. Liquidity Pool
Some platforms trade against a shared pool instead of an order book that pairs buyers with sellers. Dexsport uses a pool topped up by investors, which pays out winnings and shows its balance publicly.
7. Volume
Volume counts the total value traded over a market's life. Large volume signals interest, yet it says little about how much can trade today. Our guide to volume versus liquidity explains the difference with real figures.
8. Slippage
Slippage is the difference between the quoted price and the average price an order actually fills at. Small orders of $5 may fill at the screen price, while a $5,000 order in the same market may pay several cents more per share.
Terms for Timing and Settlement
The final group covers when a market stops and how it decides the result.
9. Market Close
Market close marks the moment trading stops, usually shown in UTC. Dexsport pages list a market period and a close time, and an event after the deadline can resolve No.
10. Resolution Source
The resolution source names the evidence that settles the market. Some pages cite a precise feed, such as a Binance price candle, while others cite "a consensus of credible sources", which leaves more room for interpretation.
11. Resolution
Resolution is the final decision on which outcome happened. Shares on the correct side then pay $1 each. At Dexsport, a team confirms each result inside a 24-hour window after the event, with payouts in stablecoins only.
Sales before resolution depend on liquidity, and our piece on early exits covers how that works.
Quick-Reference Table
The table condenses all eleven terms into one line each for use beside a market page.
|
Term |
One-line meaning |
|
Share |
Pays $1 if its outcome happens |
|
Implied probability |
Price in cents read as a percentage |
|
Pair sum |
Yes plus No price, showing the built-in cost |
|
Multi-outcome market |
One question split into separate Yes or No rows |
|
Liquidity |
Money that can trade near the current price |
|
Liquidity pool |
Shared fund that takes the other side of trades |
|
Volume |
Total value traded over the market's life |
|
Slippage |
Difference between quoted and filled price |
|
Market close |
Time trading stops |
|
Resolution source |
Evidence used to decide the result |
|
Resolution |
Final decision and payout |
Last verified: October 2026
Anjouan licenses the operator, Dexapp LTD, and the platform's terms rule out arbitrage betting.
Conclusion
Eleven terms unlock most prediction market pages. Share, implied probability, pair sum and multi-outcome market describe what you buy, while liquidity, pools, volume and slippage describe how much can trade and at what cost.
Market close, resolution source and resolution decide when trading stops and how the market settles. Read each of those lines on the market page, and compare them with what you expect, before you buy a single share.
Check the law where you live, trade only at legal age, and expect that KYC or AML checks may apply. Responsible gambling applies to prediction markets as much as to any sportsbook.
Disclaimer: The information here is provided for general purposes only and is not legal, tax, investment, or financial advice. Market rules, costs and platform terms change, so read each market page and the current terms before you trade. Prediction markets involve risk, and rules vary by country, so check the law where you live. Please trade responsibly, within your means, and only if you are of legal age.
