How to Access Event Contracts

You must have an open Event Account to trade event contracts. Access to an Event Account requires a pre-existing Individual Cash or Margin account. Once your primary brokerage account is established, you may proceed to open an Event Account.

On the Mobile app, navigate to Markets > Predictions and click the “Trade Prediction Markets” button. Or choose an event, select a contract to trade, and click the “Open Account” button.

On the Desktop app, navigate to the accounts drop-down > Open more accounts > Events Account.

On Webull.com, navigate to My Account > View All Accounts > Events Account.

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How Do Event Contracts Work

Let’s walk through a trade step-by-step:

Step 1: Buying a Contract

• Minimum Amount: Contracts are priced from $0.01 to $0.99, with a $0.01 fee charged by the Exchange and $0.01 by the Firm for each contract on both opening and closing trades.
• Open a position: Select one event contract, choose “Yes” or “No” for a particular event and confirm the order submission.

Example

Consider the event “Will the S&P 500 be at or above XYZ today at 16:00?”. If you think the index will surpass 7,650, you may select the 7,650 strike value and buy “Yes” contracts for the "Will the S&P 500 be at or above 7,650 today at 16:00?" outcome. Alternatively, you could purchase “No” contracts for the same event, meaning you are effectively speculating that the index will not reach 7,650 points at 16:00. Both contract types reference identical underlying conditions.

• Price Determination:
  The Event Contract prices can be interpreted as market-implied probabilities. (e.g., a "Yes" contract for "Will the S&P 500 be at or above 7,650 today at 16:00?" priced at $0.60 implies a 60% probability).

Step 2: Holding Until Expiration

• Can You Sell Early? Yes! You can sell contracts before expiration (e.g.: Buy "Yes" at $0.60; sell later at $0.80 if the outcome has a higher implied probability).
• Expiration: The contract closes when the event deadline passes.

Step 3: Settlement & Payout

• Payout Time: Payout schedules vary by contract. For specific timelines and settlement details, please refer to the “Timeline and Rules” section on the individual event contract page.
• Gains/Losses: If you bought "YES" at $0.60 and the event happens, you get $1 per contract. If the event fails, you lose your initial cost ($0.60).

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Funding and Buying Power

• Funding: You will need to deposit funds into the linked individual brokerage account. Depending on the type of linked brokerage (Cash or Margin), your Event Contract Buying Power will be calculated as follows:

Linked Cash account: Event Contract Buying Power = Settled Cash Buying Power − Provisional Cash
Linked Margin account: Event Contract Buying Power = Options Buying Power

Key Trading Takeaways

• Trading hours: Vary by contract type. Index Event Contracts are available from 8:00 AM to 4:00 PM EST. Crypto, Economic, Culture, and Sports-related Event Contracts are available 24/7, outside of any maintenance windows.

*Trading hours are subject to maintenance windows and changes as new contracts are introduced. See specific contract rules under “Timeline and Rules”

Order Types & Time-in-Force: Currently, Event Contracts can only be traded using the following order types and time-in-force selections:

Limit Orders: If executed, limit orders will be filled at the specified limit price or a better price if available. You may place use the following Time-in-Force selections for Limit Orders:

1. Day: Cancels at 12:10 AM the following day.
2. Immediate or Cancel (IOC): Executes immediately. Any unfilled portion is canceled.
3. Fill or Kill (FOK): Executes immediately and in full, or cancels entirely. No partial fills.
4. Good ‘Til Canceled (GTC): Remains active until filled, canceled, or the event concludes.
5. Good ‘Til Date (GTD): Remains active until the close of business on your selected date unless filled, canceled, or the contract expires.
6. Quick Orders: A Quick Order, also known as a market order, is a request to immediately buy or sell a specified number of contracts at the best available price. Quick Orders are designed to execute without delay and allow you to place a trade based on either a dollar value (USD) or a specific number of contracts. Please note that market prices may fluctuate between the time an order is placed and when it is executed. You may use the same Time-in-Force selections for Quick Orders as Limit Orders if you are trading a specific number of contracts. If you select to trade in dollar value, you may only select Fill or Kill (FOK) as the time-in-force.

Supported Platforms: Event Contract trading is currently available on the mobile app and desktop.