Yes, No, and outcome tokens

Each market has two outcome tokens: Yes and No. They are the instruments the venue lists on its order book. Foreseez paper-trades those same token ids against the live book.

Buying Yes is a claim the statement resolves true. Buying No is a claim it resolves false. If the market is “Will Candidate A win?”, buying No is not “buying Candidate B.” It is buying “not A.” In a many-candidate event you pick the market for the person, then Yes or No on that person.

Prices should add up, approximately

Yes and No on the same market should sit near 1.00 together. A 0.62 Yes usually means a 0.38 No. Spreads, fees, and stale books can leave a gap. If the two sides add up to something wild, the book is thin or not accepting orders. Do not paper-trade a broken book.

Named outcomes on the desk

Some desk views label the buttons with the candidate or team name instead of Yes and No. “Buy Vance” is still buying the Yes token of the Vance market. “Buy not Vance” is the No token. Same instruments, clearer language.