How Automated Settlement Works
How markets resolve automatically after close, including model review, verification, reports, and no-outcome payouts.
Automated Settlement
Automated Settlement resolves every new Delphi market after trading closes, including markets opened through Predict Anything. Each market's question, outcomes, data sources and settlement criteria are set before trading starts. Delphi then reviews the available evidence against them and submits the final result on-chain.
Creators do not run a model or select a winner after close. Traders can inspect the configuration and resulting settlement report.
Before You Trade
Every automated market shows the inputs that guide its settlement:
Question: The real-world question being answered.
Outcomes: The results the workflow can select.
Data Sources: The sources used to review evidence.
Settlement Criteria: The rules that map evidence to an outcome.
Analyst Models: The models that review available evidence.
Judge Model: The model that selects the final result.
Trading Close: When new trades stop.
Review these details before trading. Clear questions, complete outcomes, reliable sources, and precise criteria make markets easier to resolve.
On markets opened through Predict Anything, these terms are generated before the market exists. Delphi drafts the settlement criteria and data sources while it prices your prediction, and shows them on the forecast card. If it can't produce terms that public sources could settle, the prediction is marked Forecast Only and no market is opened.
The Automated Settlement Process
After trading closes, the market moves through six stages:
Trading closes. No more positions can be bought or sold.
Delphi waits for evidence. Settlement starts at the offset chosen when the market was created, 1 to 12 hours after close, so official results and reliable reporting have time to appear.
Analyst models review the market. They assess the rules, sources, and available evidence.
The judge evaluates the reports. It selects the outcome that best matches the declared rules.
The result is submitted on-chain. The workflow sends the selected outcome to Delphi's contracts.
The market page updates. It shows the outcome, payouts, settlement details, and available reasoning.
Creators do not need to take settlement action after an automated market closes.
Settlement Timing
Automated Settlement starts after trading closes. It is not instant. The workflow waits for evidence, reviews model outputs, and submits the result on-chain.
Settlement starts 1 to 12 hours after close (8 hours by default), and every market settles within 48 hours of trading close. The market contract enforces this window.
Markets are set to close before the outcome is knowable. If trading stayed open until the answer was public, prices would drift to near-certain and trading would stop meaning anything.
How the Models Work Together
Automated Settlement separates evidence review from the final decision.
Analyst Models
Analyst models independently review the market and its available evidence. They:
Find evidence from the declared sources.
Apply the settlement criteria.
Explain which outcome the evidence supports.
Identify incomplete or conflicting evidence.
Judge Model
The judge receives the analyst reports and makes the final structured decision. It evaluates the reports against the market's question, outcomes, and settlement criteria.
Separating these roles reduces reliance on one model response. It also creates a clearer decision record.
What Is Verifiable?
The final judge runs through Gensyn's REE (Reproducible Execution Environment). REE produces a receipt that records the model, inputs, output, and computation hash.
You can use the receipt to reproduce the judge's computation. It confirms that the recorded model produced the recorded output from the recorded inputs.
Verification proves computational integrity. It does not guarantee that:
Every source was factually correct.
The question and outcomes were well designed.
The analyst reports included every relevant piece of evidence.
The selected outcome represents an objective or universal truth.
The receipt verifies the computation. The market's rules, sources, and settlement report let you evaluate the decision.
Understanding the Settlement Report
After settlement, select View Settlement Report in the AI Settlement section.
Depending on the available artifacts, the report may include:
The final outcome.
Analyst and judge model roles.
The market's data sources and settlement criteria.
Settlement reasoning and the on-chain transaction.
Settlement reasoning explains how the evidence was assessed against the market's rules. Delphi displays it only when a settlement artifact is available.
What Winners Receive
When a market settles to a winning outcome, winning shares become claimable from the market page or Claimable in Activity:
On LMSR markets, each winning share pays $1.
On DPM markets, winning shares split the pool.
What Does "No Outcome" Mean?
Sometimes a market closes without a winning outcome. Delphi displays this state as No Outcome.
When this happens:
No listed outcome wins.
Positions pay at the final market prices when trading closed. On LMSR markets, prices freeze at close, so a share priced at 12% pays $0.12.
Payouts may be higher or lower than the original purchase amount.
Proceeds appear in the Payouts section of Activity.
This is not a refund of the original purchase amount.
For example, imagine Yes costs $0.70 and No costs $0.30 when trading closes. If the market has no outcome, Yes positions pay at $0.70 per unit and No positions pay at $0.30 per unit. No position receives a winner-takes-all payout.
Frequently Asked Questions
These answers cover automated settlement. For other common questions, see Help.
Next Steps
Learn how to create a clear market.
Learn how to explore markets and trade.
Review positions and payouts in Activity.
Read more about Gensyn REE.
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