> For the complete documentation index, see [llms.txt](https://docs.spend.market/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.spend.market/markets/how-markets-resolve.md).

# How Markets Resolve

When a market's window closes:

* **Window closes.** No new positions. In Phase 2, the order book freezes.
* ***Revere***** computes the result.** Spend Market's oracle produces the value for the market's chosen metric over its window. See [Data & Revere](/data-and-revere/overview.md).
* **Resolution.** The market resolves to the winning outcome per the rules printed on its page. Markets are reviewed and resolved by the Spend Market team at launch.
* **Payouts.** Winning tokens redeem for $1.00 each, with the 1% net-profit fee applied only to your winnings (see [Fees](/markets/fees.md)); losing tokens go to zero. Payouts typically complete at time of market resolution.

**Tie handling.** A tie refunds all positions in full. This covers Versus and Ranking. In Target markets, a result exactly at the threshold resolves on the stated operator (≥ resolves YES; > does not). Every market's rules state the exact operator.

**Threshold language.** Spend Market always uses unambiguous operators: ≥, ≤, >, <, or "exactly." Never "approximately," "around," or "about."

**Disputes.** If you think a market resolved incorrectly, email <help@americanspend.com> within 7 days. The Spend Market team reviews the data against the rules and responds.


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