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Markets progress through a chronological lifecycle from creation to finalization. The status indicates what actions are allowed and what the market’s current state is: initialized → active → inactive → closed → determined → finalized
Markets can transition from inactive back to active, or from inactive to closed. The inactive status represents a paused state that can go either direction.

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Status Definitions

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Initialized

A market has been created but is not yet open for trading. Characteristics:
  • Trading is not yet open
  • No buy or sell orders can be executed
Possible Transitions:
  • Can transition to active when trading opens

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Active

A market is available for trading. This is the only status that allows buy and sell orders. When a market is active, traders can:
  • Open new positions
  • Reduce existing positions
Characteristics:
  • Trading is enabled through the DFlow Trade API
  • Buy and sell orders are accepted
Possible Transitions:
  • Can transition to inactive if trading is paused
  • Can transition to closed when trading ends
Only markets with status: "active" can accept trades. Always check the market status before attempting to execute buy or sell orders.

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Inactive

A market is paused and temporarily unavailable for trading. Markets in the inactive status can transition to either active or closed depending on the circumstances. Characteristics:
  • Trading is temporarily paused
  • No new orders can be executed
  • Existing positions remain unchanged
Possible Transitions:
  • Can transition back to active if trading resumes
  • Can transition to closed if the market is permanently closed

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Closed

A market is closed for trading, but no outcome has been determined yet. Markets in the closed status have stopped accepting new trades but are still waiting for the outcome to be determined. Characteristics:
  • Trading is permanently disabled
  • No new orders can be executed
  • Outcome has not yet been determined
  • Redemption is not yet available
Possible Transitions:
  • Can transition to determined when the outcome is decided

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Determined

A market is closed for trading and an outcome has been determined. Markets in the determined status have had their outcome written to the Market Ledger, but the market may not yet be finalized. Characteristics:
  • Trading is disabled
  • Outcome has been determined
  • Redemption may be available (depending on funding status)
  • Market is waiting for finalization
Possible Transitions:
  • Can transition to finalized when the market reaches its final state
Markets with status: "determined" or status: "finalized" allow traders to redeem winning outcome tokens. Check the redemption status in the market data to confirm redemption availability.

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Finalized

A market is in its final state and no changes will be made. Markets in the finalized status have completed their entire lifecycle. Characteristics:
  • Trading is permanently disabled
  • Outcome has been determined
  • Market is in its final state
  • No further status changes will occur
  • Redemption is available for winning positions
Possible Transitions:
  • No transitions (final state)

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Querying Market Status

You can query market status using the Prediction Market Metadata API. The status field is included in all market responses. See the Market API reference for complete details on the status field.

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Filtering by Status

The Markets, Events, and Series API endpoints support filtering by status:
  • Markets API: Use the status query parameter to filter markets by status
  • Events API: Use the status query parameter to filter events by their markets’ status
  • Series API: Use the status query parameter to filter series by their markets’ status
Available status values for filtering: initialized, active, inactive, closed, determined, finalized

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Example: Checking Market Status

// Query a specific market
const response = await fetch(
  "https://api.dflow.net/api/v1/markets/by-mint/{mint_address}"
);
const market = await response.json();

// Check if market is active (trading allowed)
if (market.status === "active") {
  // Execute trade with the DFlow Trade API
} else {
  // Handle non-active market
}

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Status and Trading

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When Can You Trade?

Only markets with status: "active" accept buy and sell orders. Before executing any trade, always verify the market status:
  • Active: Trading allowed
  • Initialized: Trading not yet open
  • Inactive: Trading paused
  • Closed: Trading permanently disabled
  • Determined: Trading disabled, redemption may be available
  • Finalized: Trading disabled, redemption may be available

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Status and Redemption

Markets with status: "determined" or status: "finalized" may allow redemption of winning outcome tokens. However, you should also check the redemptionStatus field in the market data to confirm redemption availability, as the redemption vault must be funded before redemption is possible.

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Key Takeaways

  • Markets progress through a lifecycle: initialized → active → inactive → closed → determined → finalized
  • Only active markets accept buy and sell orders
  • inactive markets can transition back to active or forward to closed
  • determined and finalized markets allow redemption of winning positions
  • Always check market status before executing trades or redemption requests
  • Use the Prediction Market Metadata API to query and filter by status

Markets API Reference

Query markets and filter by status to discover trading opportunities

Trade Tokens Quickstart

Learn how to execute trades on active markets using the DFlow Trade API

Redeem Outcome Tokens

Understand how to redeem winning positions from determined or finalized markets

Event Settlement and Redemption

Learn how markets transition from closed to determined and finalized states