> For the complete documentation index, see [llms.txt](https://polypoll.gitbook.io/polypoll-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://polypoll.gitbook.io/polypoll-docs/protocol/market-lifecycle.md).

# Market Lifecycle

Every paper market moves through the same core states.

## 1. Creation

The creator publishes:

* the question
* the options
* the close time
* the description and rules
* the initial odds and liquidity

Status after publish:

* **active**

## 2. Live trading

While the market is active:

* users can buy shares
* users can sell owned shares
* the LS-LSMR engine updates prices after every trade
* volume and price history accumulate

## 3. Betting closes

Once the close time passes:

* new trades should stop
* the market waits for the outcome

## 4. Resolution

The creator or an admin resolves the market.

Resolution sets:

* the winning option
* the resolved timestamp
* the resolution note

At this moment:

* the creator fee pool is paid to the creator
* the market status becomes **resolved**

## 5. Claims

After resolution:

* winners claim 1 point per winning share
* losing shares are worthless
* portfolio history and leaderboard metrics update


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://polypoll.gitbook.io/polypoll-docs/protocol/market-lifecycle.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.