Event Contract Rules and Special Outcomes

Where can I find the full rules for a specific contract?

Every event contract is governed by its own contract terms, which the exchange files with the CFTC. They define the underlying event, the source agency, the payout criterion, the expiration date and time, and how unusual situations are handled.

On Webull, every contract's full rules can be viewed through the link on the contract detail page. This opens the full contract terms. The same terms are published as PDFs, and every rule amendment is filed publicly with the CFTC. Contract terms are written as templates, so placeholders such as <game> or <cryptocurrency> are filled in with the details of each specific market.

Which official data source determines a contract's outcome?

Each contract identifies a “Source Agency,” the official source used to determine its outcome. To check this in the app, open the contract and review its Timeline and Rules for the designated source and settlement criteria.

Always review this information before trading, as sources and settlement rules vary by contract. If multiple sources are listed, the rules specify their order of priority.

How are thresholds such as “above,” “at least,” ranges, and exact values interpreted?

Contract terms define comparison words precisely, and small wording differences matter. Some common thresholds can be interpreted as follows:

• "Above X": strictly greater than X. A result exactly equal to X does not count.

• "Below X": strictly less than X. A result exactly equal to X does not count.

• "X or Above": greater than or equal to X. A result exactly equal to X counts.

• "At least X": X or greater, so a result equal to X does count.

• "Exactly X": equal to X, to the number of decimal places the contract specifies.

• "Between X and Y": includes both ends of the range, so results equal to X or Y count.

Many totals and spread contracts use half-point thresholds, such as 47.5, so a result cannot land exactly on the line.

What happens if an event is canceled, postponed, rescheduled, or abandoned?

Each contract's terms spell out how disruptions are handled, and the approach differs by product:

• Short postponements: Many sports contracts stay open if the game is rescheduled within a set window.

• Longer postponements or cancellations: If the event is canceled, or postponed beyond that window, contracts usually settle at the "last fair market price" before the disruption, as determined by the exchange.

• Abandoned games: For some sports contracts, a game that has reached 55 minutes of play settles on what happened up to that point, even if it is never finished. A game suspended before 55 minutes, without the league declaring it complete, settles at the last fair market price.

• Other products: The rules vary. Some NFL player contracts settle at the last fair market price if the game is not played within the same scheduling week. Some tournament-style contracts stay open for up to two weeks past the original date.

Because the rules differ so much, you should read and understand the specific contract's terms before trading.

How do ties, overtime, player nonparticipation, and other sports-specific conditions affect settlement?

For some contracts, overtime counts toward results unless the contract says otherwise, so full-game totals and player-stat contracts include overtime. For player contracts, if a player is declared inactive, or is active but does not take part in any plays, some contracts settle at the last fair market price before the game started, not as a loss.

Ties are handled contract by contract. Some markets list a draw or tie as its own outcome. Some contracts with more than one winner split the $1.00 payout evenly among the winners, rounded down to the nearest cent. Halftime, quarter or period markets count only the period named in the contract.

Always read and understand the contract's full rules before trading.

How are corrected data, revised results, unavailable official data, and other nonstandard outcomes handled?

Contracts are settled based on what the source agency reports at expiration. Corrections or revisions published after expiration may change settlement. This includes stat corrections, restated data and later disqualifications. If official data is missing or incomplete, the rules vary by contract. For some cancellations, the exchange decides a fair settlement when no reliable last traded price exists.