Professional Terminology Explanations

Term Explanation

Prediction Market A trading platform where participants buy and sell contracts based on the outcomes of future events. Prices reflect the crowd’s estimated probability of each outcome.

Shares (in Prediction Markets) The tradable instrument representing a specific outcome. Priced between $0–$1, they pay $1 if the outcome occurs and $0 otherwise.

Order Book A real-time list of buy and sell orders organized by price level. Determines current market prices through supply and demand.

Proxy Wallet / In-App Wallet A smart contract-based wallet created by the platform on behalf of the user. Simplifies transactions and eliminates the need to manage private keys directly.

Market Order An order to buy or sell immediately at the best available current market price.

Limit Order An order to buy or sell only at a specific price or better.

GTC (Good-Til-Canceled) Order type that remains active until filled or manually canceled.

IOC (Immediate-Or-Cancel) Order type that executes immediately as much as possible; any unfilled portion is canceled.

Gas Fee Transaction fee paid on blockchain networks (e.g., BNB Chain) to compensate validators for processing transactions.

Slippage The difference between the expected price of a trade and the actual executed price, especially common with large orders.

Settlement The process of resolving the market contract and distributing payouts once the event outcome is officially determined.

CEX Centralized Exchange (e.g., Binance) — a traditional crypto trading platform.

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