> ## 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.

# Read the rules

> The rules are the settlement contract. Six checks to run first.

A market page answers four questions: What is the claim? What are the possible outcomes? When does trading or observation end? Which evidence decides the result?

The price chart and the order book are trading tools. **The rules are the settlement contract.**

## What's in the header

| Element                            | What it tells you                                               |
| ---------------------------------- | --------------------------------------------------------------- |
| Question and image                 | The human-readable claim.                                       |
| Creator and creation time          | Who proposed the market, and when.                              |
| Status and time remaining          | Whether trading is active, and how long is left.                |
| Eligibility or promotional markers | Whether the market is in a campaign or reward program.          |
| Volume                             | Activity already executed. Not the same as available liquidity. |

## The Rules and Resolution panel

A well-specified market states the observation window, the condition that makes each outcome win, the primary source, when a secondary source may be used, how conflicting or unavailable evidence is handled, and when the market is voided.

## Six checks before you trade

| Check          | Question to answer                                                                                       |
| -------------- | -------------------------------------------------------------------------------------------------------- |
| **Scope**      | Does the title match the detailed condition — including asset, location, competition or product version? |
| **Time**       | Which timezone and exact cutoff govern the result? Does "by" include the deadline?                       |
| **Outcome**    | What makes YES win, what makes NO win, and are the named outcomes exhaustive?                            |
| **Evidence**   | Which primary source is authoritative? When may a secondary source be used?                              |
| **Edge cases** | What happens on cancellation, postponement, unavailable data, ambiguous wording or a source correction?  |
| **Void**       | What exact condition makes the market invalid, and how are positions refunded?                           |

<Note>
  If you cannot answer all six from the market page, that is itself information. An unresolvable question is a risk that no price accounts for.
</Note>