Market Creation | Phoenix Prediction Docs

A good event and market are easy to find, easy to understand before a player orders, and easy to settle after the real-world outcome is known.

Do not publish an event until its title, the market question, the outcomes, the close time, and the rules all agree with each other.

For the steps in the back office, see Your Events and Results. This page covers the thinking behind a good market.

Publish only resolvable markets

A market is ready only when support can explain it, operators can resolve it from the published rule, and players can understand the outcome choices before ordering.

Creation Flow

Shape the event

Players browse an event's card or page before they choose a market.

Before writing markets, decide:

What event page this prediction belongs to.
Its category, and its place (what the event is about: Global, or regions and countries).
Whether it needs one market or several related ones, and whether exactly one of them can win (a One winner event). A One winner event also states whether its outcomes cover every result; see Your Events and Results.
What image and description help players understand it.

The market should feel like a natural action on the event, not a disconnected trading object.

Make the required decisions

Decision	Operator guidance
Event title	Name the event or prediction page players are opening.
Market question	Ask a single clear question. Avoid jokes, vague wording, or multiple conditions.
Outcomes	Yes and No by default, or two names you choose. Make them mutually exclusive and complete.
Opening price	Your best estimate of the chance of Yes, from 5% to 95%.
Trading closes	Before the outcome can be known. The back office refuses a close at or after the outcome time.
Outcome known	The first moment the result could be public: the announcement, data release, polls closing or final whistle.
Result expected	When the source should show the result, at or after the outcome time.
Rules and source	Name the source of truth (a link) and exactly what value or event decides the outcome. The rules never change after publishing.
Category and place	Put the event where players will naturally look for it, and where your place filters treat it correctly.
Image	Use an image that supports the market without implying a different rule.

What a market does not set

Every market has two outcomes. The trading engine, currency, order limits and price steps are not set when you write a market:

Trading engine belongs to your operator and is set by Phoenix. A change applies only to books opened after it.
Currency and order limits come from your operator's currencies: each currency's minimum and maximum order, which your Admin sets under Manage > Your operator for each environment. Each environment and currency has its own book.
Price steps on an order book are fixed at 0.01: limit prices sit between 0.01 and 0.99.

Review before publishing

Review the market as if you were a player seeing it for the first time:

Can the player understand what they are predicting?
Are the possible outcomes complete?
Is there a clear moment when trading should stop?
Is the source of truth named clearly?
Would support know how to explain the result?
Could the market become unfair if the real-world event changes?

Also confirm the category and place match how players will browse. A technically correct market can still fail if players cannot find it or misunderstand why it appears where it does.

Multiple Markets on One Event

An event holds up to 20 markets when it is created. Use several when players naturally expect related predictions on the same event page.

Good examples:

Match winner, total goals, and first scorer on one match event.
BTC close direction, price range, and volatility on one daily crypto event.
Election winner, turnout, and margin on one election event.

Avoid grouping unrelated markets only because they share an internal campaign or reporting code. Players should understand why the markets are together.

Good Market Wording

Prefer wording that makes the resolution path obvious:

Weak	Better
BTC up today?	Will BTC close above its previous daily close on the named price source?
Team A wins?	Will Team A win the scheduled match against Team B on the official result?
Will it rain?	Will the named weather source report measurable rain in the selected city on the selected date?

Launch Checklist

Before promoting a market:

The event appears where you intended for your players, and Curation does not hide it.
Your currency limits suit the expected demand.
The resolution owner knows when and how to resolve it.
Support can find the market and understand the rule.
Compliance and responsible gaming requirements are satisfied.

Common Mistakes

Publishing a market whose title and resolution rule do not match.
Letting trading remain open after the outcome is effectively known.
Creating outcomes that do not cover the real result.
Using a source that can change or disappear after settlement.
Launching high-volume markets before the team understands the risk.