> For the complete documentation index, see [llms.txt](https://docs.strixlab.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.strixlab.io/getting-started/what-is-strix.md).

# What is Strix Lab?

Strix Lab is a **prediction market** — a marketplace where you buy and sell shares in the outcome of a future real-world event. The price of a share is the market's live estimate of how likely that outcome is.

You already form views on these outcomes every day: will it rain this weekend, will rates get cut, will your team win the final. A prediction market gives those views a price — and lets you back them with a position.

### Shares, prices, and probability

Every market is built around one question with a **Yes** side and a **No** side. Each side is a share that:

* costs between **1¢ and 99¢** to buy, and
* **settles at exactly $1** if it turns out correct — or **$0** if not.

Because of this, **a price is a probability**. If Yes shares on "Will it rain tomorrow?" trade at 65¢, the market collectively thinks there's roughly a 65% chance of rain. As people buy and sell, the price moves — so the market is a live forecast that updates as collective belief shifts.

**Example.** You buy 100 Yes shares at 65¢, paying $65. If it rains, the market settles and each share is worth $1 — you receive $100, a $35 profit. If it doesn't rain, the shares settle at $0.

(You may also see the word *resolve* used elsewhere for the same thing — on Strix Lab we say a market **settles** when the real-world outcome is confirmed.)

### You don't have to wait for settlement

Prices move as news breaks and other traders buy and sell. You can **sell your shares at any time before the market settles** — to lock in a profit or cut a loss, just like selling a stock or anything else you own.

If those Yes shares climb from 65¢ to 80¢ after a strong weather forecast, you can sell at 80¢ and take the gain without waiting for the rain itself. You control when you exit.

### How Strix Lab is different

<table data-view="cards"><thead><tr><th></th><th></th></tr></thead><tbody><tr><td><strong>A real order book</strong></td><td>When you place an order on Strix Lab, it matches directly against other users' orders on a live order book — the same system professional exchanges use. A live order book means you always trade at a true market price.</td></tr><tr><td><strong>Low, transparent fees</strong></td><td>If your order waits in the book for someone to match it, you pay <strong>nothing</strong>. If you match an existing order for instant execution, you pay a small fee — among the lowest of any prediction market. Full details in <a href="https://docs.strixlab.io/trading/fees">Fees</a>.</td></tr><tr><td><strong>Your funds stay yours</strong></td><td>Your money sits in your own built-in wallet — Strix Lab never takes custody of it. Every trade settles transparently on the blockchain in <strong>USDC</strong>, a digital dollar designed to stay at $1.</td></tr></tbody></table>

### What you can trade

Markets span **Sports, Crypto, Finance, Politics, Economics, Culture, Weather, Tech, Geopolitics**, and more.

Most markets are a single Yes/No question: *"Will the Fed cut rates at the next meeting?"*

Some events group several outcomes together — *"Who will win the tournament?"* is really a set of Yes/No markets, one per team, collected under one event page. You take a position on the specific outcome you believe in, and each one settles independently when the result is confirmed.

You can also [create your own market](https://docs.strixlab.io/trading/create-a-market) around any outcome you think people will want to take positions on.


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A real order book	When you place an order on Strix Lab, it matches directly against other users' orders on a live order book — the same system professional exchanges use. A live order book means you always trade at a true market price.
Low, transparent fees	If your order waits in the book for someone to match it, you pay nothing. If you match an existing order for instant execution, you pay a small fee — among the lowest of any prediction market. Full details in Fees.
Your funds stay yours	Your money sits in your own built-in wallet — Strix Lab never takes custody of it. Every trade settles transparently on the blockchain in USDC, a digital dollar designed to stay at $1.