Glossary
Polymarket
A decentralized prediction market platform where users trade on real-world events.
Users trade against each other. There is no house or trading fee.
Shares
Investment in a market
Users who own shares in a Polymarket market.
UMA
Universal Market Access, the oracle that resolves market outcomes.
UMA stakers vote on disputed proposals.
Stakeholder
Any participant with a vested interest in a market.
Includes UMA stakers, Polymarket traders, and proposal authors.
Proposal
A submitted answer to a market question, backed by a bond and reward.
"Proposed" is used interchangeably with "answered."
Dispute
A challenge to a submitted proposal.
Must be submitted within the 2-hour challenge period after a proposal is posted.
Voting
The process where UMA stakers decide the outcome of a disputed proposal.
Voting only happens if a proposal is disputed.
Market Resolution
The final outcome of a proposal after any disputes are resolved.
Once resolved, shareholders may receive payouts based on the result.
Precedent
A decision pattern established through multiple resolved cases.
Precedents are used to help answer similar future proposals.