Settlement & Resolution

When you participate in a Betty market, you're predicting whether a specific outcome will occur. Settlement is the process of determining what actually happened and paying out winnings accordingly.

The Settlement Process:

1. Event Occurs - The real-world event happens (or doesn't happen)
2. Official Confirmation - The designated source confirms the outcome
3. Betty Reviews - We verify the outcome using the specified source
4. Market Resolves - Market is settled as YES, NO, or N/A
5. Automatic Payout - Winning positions receive full payout automatically

Most Important Rule:

All resolution decisions are made at the sole discretion of Betty and are final. Once a market is resolved, the decision cannot be appealed or reversed, even if new information emerges later.

Every market resolves in one of three ways:

YES Resolution

The specified outcome occurred as described in the market. Participants who predicted YES receive their winnings.

Example:

• Market: "Will it rain in London on July 15th?"
• Outcome: Official weather service records 2mm of rain on July 15th
• Resolution: YES - Market description specified any measurable rain counts

NO Resolution

The specified outcome did not occur. Participants who predicted NO receive their winnings.

Example:

• Market: "Will Bitcoin reach $100,000 by December 31, 2025?"
• Outcome: Bitcoin price reaches $98,500 but never hits $100,000 by deadline
• Resolution: NO - The threshold was not reached

N/A Resolution (Full Refunds)

The market cannot be resolved as YES or NO. All participants receive full refunds of their original wagers, regardless of what they predicted.

When N/A Resolution Happens:

• The event is cancelled and doesn't occur before the market deadline
• The necessary entities or conditions cease to exist
• The outcome becomes impossible to determine
• The market description specifically lists N/A conditions that are met
• Betty determines resolution is impossible or inappropriate

Example:

• Market: "Will Keir Starmer be removed as Labour Party leader by December 31, 2026?"
• Outcome: The Labour Party dissolves as an organization in June 2026
• Resolution: N/A - Market description stated this would trigger N/A resolution. Everyone gets refunded.

Every market specifies a resolution source - the authority we use to determine the outcome. The source is clearly stated in the market description.

Common Resolution Sources

• Political Events: Official government records, electoral commissions, parliamentary records, official party statements
• Sports Events: Official league statistics, governing body records, official scoreboards, tournament results
• Financial Markets: Specified exchanges, index providers, SEC filings, company announcements
• Entertainment: Official award ceremonies, box office tracking services, streaming platform data, studio announcements

What If Sources Conflict?

Sometimes different sources report different information. When this happens:

• Betty determines which source is most authoritative for that specific market
• Primary sources (official records) take precedence over secondary sources (news reports)
• Betty's determination is final - users cannot dispute source selection

What If the Source Disappears?

If the specified resolution source becomes unavailable:

• Betty may use an equivalent alternative source
• Betty may resolve the market as N/A if no suitable alternative exists
• Betty makes this determination at its sole discretion

Resolution Timeline

Markets resolve when the outcome is officially confirmed, but timing varies by market type:

The Information Cut-Off Rule

This is crucial: Once we resolve a market based on the information available at that time, we DO NOT reverse the resolution if information changes later.

This means:

• Sports results overturned weeks later don't change the resolution
• Statistics corrected by leagues don't reverse payouts
• Election results contested after certification don't affect resolution
• Records broken and then found invalid later don't matter

We resolve based on what's official at resolution time, period.

Understanding Time Specifications

Markets use precise language about timing:

• "By December 31, 2025" = Must occur on or before 11:59:59 PM on that date (timezone specified in market)
• "Before December 31, 2025" = Must occur any time up to but NOT including December 31
• "After December 31, 2025" = Must occur any time following (not including) December 31
• "During 2025" = Any time from January 1, 2025 00:00:00 through December 31, 2025 23:59:59

Political Markets

Elections

• Resolution Source: Official electoral authority
• YES if: Candidate is officially certified as winner
• NO if: Different candidate certified or deadline passes
• N/A if: Election cancelled without rescheduling, office eliminated

Leadership Changes

• Resolution Source: Official organizational announcement
• YES if: Person officially removed, resigns, or leaves position
• NO if: Person remains in position through deadline
• N/A if: Position eliminated while person still holds it, organization dissolves

Sports Markets

Game Outcomes

• Resolution Source: Official league statistics
• YES if: Specified outcome occurs in official result
• NO if: Different outcome in official result
• N/A if: Game cancelled and not completed before deadline

Financial Markets

Price Thresholds

• Resolution Source: Specified exchange or price aggregator
• YES if: Price reaches or exceeds threshold during timeframe
• NO if: Threshold not reached by deadline
• N/A if: Asset delisted or ceases trading

Entertainment Markets

Awards

• Resolution Source: Official ceremony or organization announcement
• YES if: Nominee wins specified award
• NO if: Different nominee wins
• N/A if: Award ceremony cancelled, category eliminated

Cryptocurrency Markets

What Happens When Language is Ambiguous?

Sometimes market descriptions contain terms that could be interpreted multiple ways. When this happens:

• Betty interprets language using common understanding and context
• Technical terms are interpreted according to their meaning in the relevant field
• Betty's interpretation is final and cannot be disputed
• If truly impossible to resolve, market may resolve as N/A

"Substantially Similar" Determinations

Some markets ask whether an outcome is "substantially similar" or "effectively the same" as described. Betty determines this based on:

• Core characteristics specified in market description
• Whether functional purpose is achieved
• Whether material differences exist (vs cosmetic differences)
• Intent of the market question

Postponed or Rescheduled Events

Insider Information and Manipulation

Betty may void positions and ban users who:

• Have advance knowledge of outcomes
• Attempt to manipulate market outcomes
• Collude with others to affect markets
• Engage in any fraudulent activity

If manipulation is suspected, Betty may resolve market as N/A with refunds to non-manipulating users.

Resolution is Final

Once a market is resolved, the decision is permanent and final. There is no appeals process, no reconsideration, and no reversal.

This means:

• You cannot request Betty review a resolution decision
• You cannot dispute a resolution based on your interpretation of events
• You cannot argue a different source should have been used
• New information discovered later doesn't change the resolution

Obvious Errors

In extremely rare cases, Betty may review and correct obvious errors if:

• Error is discovered within 24 hours of resolution
• Error is demonstrably clear and unambiguous (e.g., resolved to wrong market by mistake)
• Correction wouldn't create unfair advantage or disadvantage

Important: Betty has no obligation to correct errors. Most resolution disagreements are interpretation differences, not errors.

When You Disagree With a Resolution

If you believe a market was resolved incorrectly:

1. Check the market description - Ensure you understand exactly what was being asked and what the resolution criteria were
2. Check the specified source - Verify what the official source actually says
3. Understand the information cut-off rule - Remember we don't reverse based on later changes
4. Accept Betty's discretion - Resolution interpretation is at our sole discretion

Payouts

Winning positions are paid out automatically after resolution:

• Payouts are calculated based on your position size and the final market odds
• Funds are credited to your account immediately
• There are no fees deducted from winnings (fees are charged at entry if applicable)
• Payouts are final once processed

Refunds (N/A Resolution)

When a market resolves N/A:

• All participants receive full refunds of their original wager amounts
• Refunds are automatic and immediate
• You receive back exactly what you wagered, regardless of odds or timing
• This applies to all positions (YES and NO)

Read Market Descriptions Carefully

Before participating in any market, you must:

• Read the complete market description
• Understand the resolution criteria
• Know the resolution source
• Understand timing specifications
• Be aware of N/A conditions

You Are Responsible: By participating in a market, you acknowledge you have read and understood the market description and accept the resolution criteria as written. "I didn't read the description" is not grounds for dispute.

Understand the Risks

Prediction markets involve risk and uncertainty:

• Ambiguous markets may resolve in unexpected ways
• Sources may report conflicting information
• Events may occur differently than anticipated
• Technical language may be interpreted differently than you expect

You accept these risks by participating.

Questions Before Participating

If you're unsure about any aspect of a market before participating:

• Don't participate until you're comfortable with the criteria
• Look for clearer markets on similar topics
• Accept that ambiguity exists and may resolve against you

Betty's Authority

By using Betty, you agree that:

• All resolution decisions are made at Betty's sole discretion
• Betty's decisions are final and binding
• You cannot appeal or dispute resolution decisions
• Betty may update these settlement rules at any time
• Betty may close, modify, or cancel markets at its discretion

Limitation of Liability

Betty is not liable for:

• Resolution decisions you disagree with
• Loss of potential profits
• Delays in settlement or payout
• Errors in market descriptions
• Source unavailability or inaccuracy
• Technical issues or platform problems
• Any losses from market participation

Force Majeure

Betty may resolve markets as N/A or delay settlement due to:

• Natural disasters or extreme weather
• War, terrorism, or civil unrest
• Government actions or regulations
• Internet or infrastructure failures
• Any circumstances beyond our reasonable control

Market Modifications

Betty reserves the right to:

• Modify market descriptions for clarity before significant trading
• Close markets early
• Suspend trading during uncertainty
• Cancel markets and issue refunds
• Limit user participation

Updates to These Rules

These settlement rules may be updated at any time:

• Markets created before updates follow the rules in effect at creation time (typically)
• Betty may apply updated rules retroactively at its discretion
• You are responsible for checking current rules
• Continued use of Betty constitutes acceptance of updated rules