> 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-to-read-a-market.md). # How to Read a Market Every market page is built the same way. Once you know the parts, you can size up any market in under a minute. ``` Is the average DoorDash order shrinking this month? YES $0.41 / NO $0.59 [██████░░░░░░░░░] $259 VOL. / 12 Days Left. Phase 1 (Early Pool) ``` * **Title / subtitle.** The question, in plain English. * **Outcomes and prices.** Each side's price between $0.00 and $1.00, which is also its implied probability. Read it as a probability, not a stock quote: YES at $0.41 means the market puts the odds at 41%. * **Context.** Two to four sentences on why this market exists right now. Found within individual market pages. * **Window.** Open, close, resolve, plus cadence. * **Phase.** Phase 1 (Early Pool) or Phase 2 (Open Market). This determines whether you can exit before resolution. ### The rules section, always in this order * **Market window.** Exactly when it opens, closes, and resolves. Time zone is always ET. * **Definitions & Scope.** Which merchants or groups are in. Any exclusions or methodology notes. Where a metric measures only part of an audience, it is stated plainly here (for example, "subscribers" counts paying subscribers only; free sign-ups are not visible to transaction data). If the market resolves on a group, the group is defined here; click the group tag to see the full merchant list. * **Resolution Method.** How the winner is decided, in precise language (always ≥, ≤, >, <, or "exactly"), including how ties are handled. * **Data Source.** Where the resolution data comes from. Points to Revere, always. See [Data & Revere](/data-and-revere/overview.md). > Before you trade, check four things: Do you understand the metric? What's included? The window? Is it Phase 1 or Phase 2? --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.spend.market/markets/how-to-read-a-market.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.