Glossary

Condition - Something that will be true or false at a specific time in the future.

Forecast - The odds that a condition will be true, e.g., "60% chance"

Market Prediction - The forecast implied by the current prices available in a prediction market.

Predicted Outcome - A pair of a condition and a choice (Yes/No). For example: "Will Mamdani become the mayor of NYC?" + "Yes" or "No"

Parlay - A group of prediction outcomes. All outcomes in a parlay must resolve as predicted for the parlay to win.

Anti-Parlay - A wager that at least one of the predicted outcomes will not occur as stated.

Wager - Collateral staked on one on more predicted outcomes.

Auction - The system in which prediction market participants bid on predicted outcomes.

Spot Market - A system where Yes tokens are traded in a CLOB-like onchain market powered by Uniswap.

Settlement - When a verifier determines the winner and distributes the collateral accordingly.

Verifier - A smart contract that integrates with an oracle network to determine the outcome of conditions.

USDe - Ethena's reward-bearing synthetic dollar, used as collateral in prediction markets.

Market Groups - Prediction markets grouped together by theme, category, or topic for easier navigation and discovery.