Redeem

Exchange winning Shares for trading currency once a market settles.

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What Is Redeem?

Once a market reaches the REDEEMABLE state, users holding winning-side Shares can exchange them for trading currency.

Outcome	Shares Value	Description
Winning side	$1.000 × Shares	Full payout
Losing side	$0.000 × Shares	No payout

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Redeem Procedure

1. Open the Portfolio page

2. Locate your winning Shares from a settled market

3. Click the Redeem button

4. Approve the wallet signature

5. Trading currency is credited to your balance and reflected in PnL

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Redeem Rules

Field	Rule
Fee	None (Redeem is fee-exempt)
Buying	Not available (Buy button is disabled for closed markets)
Partial Redeem	Not available (full Redeem only)

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Market Cancellation (CANCELLED)

When a market is cancelled, your share cost (price × shares, excluding fees) is refunded instead of a Redeem.

Note: Previously paid Taker fees are not refunded. Because Maker Rebate is paid immediately upon fill, fee recovery is not possible.

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Redeem Example

250 Yes Shares of "Film A" in the "2026 Oscar Best Picture?" market, purchased at $0.400 as a Maker (0% fee).

If Film A wins → Redeem 250 × $1.000 = $250 (cost $100, profit +$150).

If Film A loses → Shares settle at $0. -$100 loss.