# Supported Markets

<mark style="color:$info;">Prediction markets fall into three categories:</mark>

* <mark style="color:$info;">Markets that can be hedged continuously with</mark> **no jump-to-settlement risk**,
* <mark style="color:$info;">Markets that trade normally but have a short,</mark> **clearly defined jump-to-settlement window**, <mark style="color:$info;">and</mark>
* <mark style="color:$info;">Markets that</mark> **can resolve at any time**, <mark style="color:$info;">with no reliable hedge at any point in their life.</mark>

<mark style="color:$info;">A</mark> **jump-to-settlement** <mark style="color:$info;">is a discrete move from a tradable probability to a final 0 or 1 outcome without an opportunity to unwind at intermediate prices.</mark>

<mark style="color:$info;">Multiply supports the first two categories, which account for the majority of trading volume on Polymarket.</mark>

**Examples:**

1. **No jump to resolution: Fully covered by the Facility throughout lifecycle.**\ <mark style="color:$info;">"Will the S\&P 500 close above 6,500 on Friday?"</mark>
2. **Clear, short jump-to-resolution window**\ <mark style="color:$info;">"Will the Federal Reserve raise interest rates at the next meeting?"</mark>\ <mark style="color:$info;">Long pre-meeting hedgeable phase, then a very tight FOMC announcement window where jump is introduced.</mark>
3. **Full jump-to-settlement over the whole life: Not supported by Dimes**\ <mark style="color:$info;">"Will a new Supreme Court justice be confirmed in 2026?"</mark>\ <mark style="color:$info;">Can settle unpredictably.</mark>

<mark style="color:$info;">Beyond market structure, Multiply applies a clear framework for structuring its exposure. We evaluate the market's liquidity and reliability, eligibility criteria for safe margining, and the sizing caps required to keep execution efficient. All market greenlighting and sizing is fully autonomous.</mark>

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<summary><strong>Venues</strong></summary>

<mark style="color:$info;">Multiply currently provides leveraged exposure on</mark> **Polymarket** <mark style="color:$info;">and handles all underwriting, collateralization, and settlement.</mark> <mark style="color:$info;">Future integrations may include Kalshi, Opinion, Hyperliquid, and Limitless.</mark>

<mark style="color:$info;">Additional venues will be added if they meet the same requirements of:</mark>

* <mark style="color:$info;">reliable price feeds</mark>
* <mark style="color:$info;">consistent orderbook activity</mark>
* <mark style="color:$info;">predictable, objective settlement</mark>
* <mark style="color:$info;">safe hedging pathways</mark>

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<summary><strong>Market Types</strong></summary>

<mark style="color:$info;">Multiply supports binary and simple categorical markets. These markets are enabled only when the underlying venue provides:</mark>

1. **Sufficient tradable liquidity:** <mark style="color:$info;">minimum thresholds for usable depth, effective spread, order book stability, fill rate, update frequency, volume, and holder distribution;</mark>
2. **Predictable resolution with continuous price discovery:** <mark style="color:$info;">markets must exhibit stable pricing dynamics over a sufficient horizon, maintain prices within eligible ranges, and have current exposure within per-market and per-side caps.</mark>

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<summary><strong>Per-Market Caps and Exposure Limits</strong></summary>

<mark style="color:$info;">To operate safe leverage on capped-payoff instruments, Multiply uses strict exposure control:</mark>

* **Market-Level Exposure Cap:** <mark style="color:$info;">Total outstanding notional across all users is capped at a fraction of hedgeable depth across both sides, ensuring unwindability even during stress.</mark>
* **Side-Level Caps (YES vs NO):** <mark style="color:$info;">YES and NO exposures have independent caps to avoid unbalanced books, preventing skewed risk profiles, degraded hedgeability, and situations where one leg becomes too thin to support exit liquidity.</mark>

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