Shares
Shares are the units you trade in some prediction markets. Buying shares gives you exposure to an outcome and a defined payout at settlement.
Definition
In some prediction markets, positions are expressed in shares rather than “contracts”. Shares represent exposure to an outcome under specific market rules.
Shares vs contracts
Shares and contracts are often conceptually similar: you buy a unit of exposure and receive a defined payout at settlement. The key difference is usually platform terminology and underlying market design.
Why it matters for cost measurement
Execution costs are measured the same way: you still face spread, slippage, and fees. If the market is order book based, you can compute effective spread from fills and midquote.
Common pitfalls
Assuming shares imply AMM: Some platforms use “shares” terminology even with an order book. Always confirm the market structure.
Ignoring units: Know whether the UI is quoting price in 0 to 1 or cents, and how many shares you are trading.