Browse open markets and buy YES or NO positions on real-world outcomes using PLS. Markets are created on topics like crypto prices, sport, politics, and macroeconomic events. Your YES/NO positions can also be sold while the market is open.

• AMM-priced odds

  Positions are priced by a constant-product AMM — the more people buy YES, the pricier YES becomes and the cheaper NO gets, reflecting the crowd's current probability estimate.

• Winner takes the pot

  When a market resolves, the winning side shares the full pot proportionally to their positions.

• Smaug fee discount

  Holding and staking Smaug gives a fee discount on all trades, shared with the Outcome Exchange via SmaugStaking.

Two parties lock PLS against each other on the outcome of any event — a sports result, a price milestone, a real-world prediction, anything they agree on. The creator sets the terms, the odds, and how long the offer stays open. A challenger accepts by matching their side.

• Trustless resolution

  After the event, both parties vote on the winner. If they agree, payout is automatic. If they disagree, three-of-five community arbitrators resolve the dispute.

• Bet on anything

  Any event works — sports, politics, or a price milestone (e.g. "PLS above $0.0001 on January 1"). Both parties agree the terms up front.

• On-chain & non-custodial

  Every wager is escrowed on-chain. Smaug stakers receive a fee discount on all wagers.