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A market’s status tells you whether users can trade, wait, or redeem, and nothing else. Prediction markets move through a fixed lifecycle from creation to final settlement. A market’s status defines what actions users and builders can take at each stage. Lifecycle order: initialized → active → inactive → closed → determined → finalized Markets may move forward through this sequence, and in some cases temporarily move backward from inactive to active.
The inactive status represents a paused state. A market can resume trading (active) or proceed toward closure (closed).

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Market Statuses

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Initialized

The market exists but trading has not started.
  • Trading is not allowed
  • No positions can be opened or closed
Transitions:
  • → active when trading opens

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Active

The market is open for trading. This is the only status that allows trades. Users can:
  • Open new positions
  • Reduce or close existing positions
Builders can:
  • Execute trades through the Trade API
Transitions:
  • → inactive if trading is paused
  • → closed when trading ends
Only markets with status: "active" accept trades. Always check status before submitting orders.

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Inactive

Trading is paused.
  • No trades can execute
  • Existing positions remain unchanged
Transitions:
  • → active if trading resumes
  • → closed if trading ends permanently

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Closed

Trading has ended, but the outcome is not yet known.
  • No trades allowed
  • Outcome not yet determined
  • Redemption not available
Transitions:
  • → determined when the outcome is decided

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Determined

The outcome has been decided and written onchain.
  • Trading remains disabled
  • Winning outcome is known
  • Redemption may be available, depending on funding
Transitions:
  • → finalized once settlement completes
Markets with status: "determined" or status: "finalized" may allow redemption. Always check the redemptionStatus field to confirm availability.

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Finalized

The market has fully completed its lifecycle.
  • Trading permanently disabled
  • Outcome finalized
  • Redemption available for winning positions
  • No further changes
Transitions:
  • None (final state)

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Querying Market Status

Builders read market status through the Prediction Market Metadata API. The status field is included in all market responses. See the Markets API reference for details.

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Filtering by Status

Builders can filter markets by status across metadata endpoints:
  • Markets API: Filter markets directly by status
  • Events API: Filter events by the status of their markets
  • Series API: Filter series by the status of their markets
Valid status values: initialized, active, inactive, closed, determined, finalized

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Trading and Redemption Rules

Trading rules by status:
  • Active: Trading allowed
  • Initialized / Inactive / Closed: Trading not allowed
  • Determined / Finalized: Trading disabled
Redemption rules:
  • Redemption may be available in determined and finalized
  • Always confirm via redemptionStatus before submitting redemption requests

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TL;DR

  • Markets move from creation → trading → closure → settlement
  • Only active markets allow trades
  • Redemption happens after the outcome is determined
  • Always check status and redemptionStatus before acting