UK guide
How YES/NO Prediction Markets Work
A focused guide to binary event contracts, prices, payouts and settlement rules.
Published 1 September 2026Reviewed 18 September 2026
Two sides of one question
A binary market has two exhaustive outcomes: YES and NO. If YES trades at 62p, NO should be worth roughly 38p before fees and market frictions.
Price and payout
A winning contract typically settles at £1 or one unit, while the losing side settles at zero. Your return depends on the price paid, fees and whether you close the position early.
Read the rules first
The question wording, deadline and resolution source decide what counts as YES. A good market removes ambiguity before trading begins.