> ## Documentation Index > Fetch the complete documentation index at: https://docs.xo.market/llms.txt > Use this file to discover all available pages before exploring further. # How markets resolve > How XO Oracle settles a market, and what a void actually means. XO Oracle determines the final outcome using the rules published with the market. A trustworthy resolution starts before trading opens: the market has to define its decision window, primary source, any allowed secondary source, the outcome conditions, and the circumstances that make it void. ## The stages | Stage | What happens | | --------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------- | | **Rules published** | The market exposes its question, outcome conditions, evidence sources, timing and void fallback. | | **Trading ends or market pauses** | New order entry stops according to lifecycle state. Paused markets retain resting orders; terminal states cancel them. | | **Evidence reviewed** | The resolver evaluates the designated source, using a secondary source only under the published conditions. | | **Outcome recorded** | The market becomes Resolved with a winner, Voided under its defined invalid case, or Closed without resolution under engine rules. | | **Portfolio updates** | Winning or void-refund positions appear as claimable after settlement and indexing. | | **You claim** | Your smart wallet redeems through the appropriate contract path. | ## Voids A void is not a loss and not a win. It means the market could not be settled under its own rules — typically because the event was cancelled, the evidence source became unavailable, or the question turned out to be ambiguous in a way the rules did not anticipate. Eligible positions in a voided market follow the refund path defined in that market's published rules. Read the void clause on the market page before trading; it varies by market, and it is the clause people skip. ## Closed without resolution A market can also reach **Closed** — terminal, with no outcome recorded, under engine rules. Like Resolved and Voided, this cancels resting orders. What to do once a market reaches a terminal state.