What this platform is

Spectr3 is a prediction market platform where users browse event markets, choose an outcome, and trade positions based on what they think is likely to happen. Markets are organized around events, with outcomes such as Yes and No or other listed choices.

The product is built around user-facing trading concepts: markets, outcomes, prices, orders, open orders, positions, balances, and settlement after an event result is known.

What prediction markets are

A prediction market lets people trade around the likelihood of an outcome. A price near 0.60 can be read as the market valuing that outcome around 60%. Prices move when orders are matched and trades are recorded.

A position is not just a poll response. It is a tradable share in an outcome. If the outcome later resolves as winning, the platform settlement process determines how eligible shares are paid out.

How markets work

Events can contain one or more markets. Each market contains outcomes, and each outcome can have its own order book. Users can enter a market page, review current prices and available orders, then decide whether to buy or sell.

Trading is only available while the related event is open for betting. Some markets can be closed, ended, locked, or waiting for resolution, so the available actions may change as the event moves through its lifecycle.

Reading prices

Prediction market prices are easiest to read as probabilities. A Yes price around 0.25 suggests the market is pricing that outcome near 25%. A price around 0.75 suggests roughly 75%.

The price you see is a market signal, not a guarantee. It can move as users add orders, remove orders, or complete trades. Thin markets can move quickly because a small amount of trading may change the available prices.

Order book liquidity and spread

The order book is the list of open buy and sell interest for a market. Buy interest is often called bids. Sell interest is often called asks. The highest bid and lowest ask are the closest prices where a trade can happen.

The spread is the gap between the best bid and the best ask. A tight spread usually means the market is easier to trade at a fair price. A wide spread means a user may pay more to buy immediately or receive less to sell immediately.

Depth matters too. A market may show a good top price, but if only a small quantity is available there, larger trades may fill across worse prices or may not fully fill.

How orders work

A limit order says what outcome you want, whether you want to buy or sell, the price you accept, and the quantity. If the order can trade immediately, the matching engine attempts to match it. If it cannot fully trade, the remaining quantity can stay open in the book.

Market buys and market sells are different. They try to trade immediately against available open orders at the best reachable prices. A market buy spends across sell orders. A market sell sells shares into buy orders.

Limit orders give more price control because they only execute at the chosen price or better. Market orders prioritize immediate execution, so the final average price can differ from the price a user first noticed if the book changes or the order consumes multiple price levels.

Sell limit orders reserve the shares being offered. Buy limit orders must be affordable when placed, but the trading cost is not debited until a match is found.

When tax and fees apply

Spectr3 applies a 1% fee per side on executed trade value. In user-facing terms, this means tax or fees apply when a trade is actually filled, not merely because a buy order is resting open in the book.

When a buy fills, the buyer pays the matched cost plus the buyer-side fee. When a sell fills, the seller receives the matched proceeds minus the seller-side fee. If a buy order remains open and unmatched, the trading cost and fee have not been debited yet.

Canceling an unmatched buy order does not create a trade fee because no trade happened. If an order partially fills, fees apply only to the filled part. The remaining open quantity can continue resting or be managed by the user.

Positions and settlement

When a buy order fills, the user receives a position in the selected outcome. That position can represent exposure to Yes, No, or another listed outcome depending on the market.

Before a market resolves, users may be able to sell positions if there is available buy interest. After the event result is known and the market is resolved, eligible winning positions are settled according to the outcome.

Resolution depends on the event result and market rules. Users should read the market title and available context carefully before trading, especially around deadlines, start times, and close times.

Managing open orders

Open orders are not permanent commitments to trade at any price. They rest at the price and quantity selected by the user. If market conditions change, an unfilled order can be canceled, and open quantity may be reduced where supported.

Orders can also partially fill. For example, a user may place an order for 100 shares and only 30 shares may match at first. The remaining 70 shares can continue resting as open liquidity until matched, changed, or canceled.

Users should monitor open orders around event changes. A price that was reasonable earlier may no longer match the latest information, and a market can close or stop accepting trades.

Why open orders help populate markets

A new or quiet market needs visible interest before it feels tradable. Open orders let users add that interest early. A trader can say, in effect, "I am willing to buy here" or "I am willing to sell here," and the market can show that opportunity to everyone else.

Because buy orders are not charged until matched, users can seed markets with liquidity more comfortably. Other users then have prices to react to, orders to take, and clearer signals about where the market may trade.

Basic user flow

1. Browse events and markets from the public market lists.
2. Open a market to review outcomes, prices, spread, recent movement, and available liquidity.
3. Choose an outcome and decide whether to buy, sell, or place a limit order.
4. If the order matches, the trade is filled and the user position and balance update.
5. If a limit order does not fully match, the remaining quantity can rest as an open order.
6. After the event result is resolved, eligible positions are settled according to the market outcome.

Important limitations

Markets can only be traded when they are open for betting and not otherwise restricted. Orders can be partially filled, canceled, resized, or left unmatched. Prices are market-driven and can change as matching occurs.

The platform may prevent self-trading, may reject unaffordable orders, and may require available shares before a sell order can be opened. This documentation is informational and does not promise that every market will have available liquidity.

Prediction markets involve risk. A price can look attractive and still be wrong. Liquidity can disappear, spreads can widen, and immediate market orders can receive worse execution than expected in thin books.

Affiliate API documentation

This page is regular product documentation for users. Affiliate tracking and postback documentation is available separately for partners that receive event data from the platform. View affiliate documentation.

The affiliate documentation covers tracking links, attribution, JSON postbacks, signatures, retry behavior, and supported event payloads.