> ## Documentation Index
> Fetch the complete documentation index at: https://docs.limitless.exchange/llms.txt
> Use this file to discover all available pages before exploring further.

# Custom Markets

> Write your own yes/no market, fund it, share the link, and settle it yourself

## Overview

A **custom market** is a prediction market written by a Limitless user. You write the question and the rules, pick the opening odds, fund the liquidity pool from your own wallet, and settle the market yourself when the answer is known. Limitless screens the text for prohibited content and hosts the market. It does not judge the outcome and does not handle disputes.

Custom markets are **unlisted**. They do not appear in the market feed, in search, or on category pages. People reach a custom market through the link you share.

<Info>
  Custom markets are one of two kinds of user-generated market. The other kind is the
  price market (for example "BTC above \$X by …"), which trades on the order book and
  pays its creator a share of taker fees. That flow is described in
  [User-Generated Markets](/user-guide/user-generated-markets). Both kinds carry the green
  **Community** badge.
</Info>

## At a glance

| | |
| - | - |
| **Question format** | Two outcomes. Default labels are Yes and No; you can rename them. |
| **Collateral** | USDC on Base |
| **Liquidity** | You fund an on-chain liquidity pool yourself. You are the only liquidity provider. |
| **Minimum pool** | Set by Limitless and shown in the wizard. Currently 1 USDC. |
| **Trading fee** | 2% of each trade, paid into the pool. You withdraw it, together with your remaining liquidity, when you settle. Limitless takes no share. |
| **Opening odds** | 1% to 99% for the first outcome |
| **End time** | Any time in the future, in 5-minute steps |
| **Who settles** | You, from the wallet you created the market with. There is no deadline for settling. |
| **Visibility** | Unlisted. Link only. |
| **Points** | Trades on user-generated markets do not earn points. |
| **Daily limit** | A per-account limit on new custom markets applies. The wizard tells you when you have reached it. |

## Before you start

* **Sign in and hold USDC on Base** in your trading wallet. The liquidity step shows your available balance and will not let you fund more than you hold.
* **The wallet you create with becomes the resolving wallet.** It is written into the market on chain and cannot be changed. Only that wallet can settle the market. If you later switch between an embedded wallet and an external wallet (see [Wallet Types](/user-guide/wallet-types)), you have to switch back to settle.
* **If you never settle, funds stay locked.** Limitless cannot settle a custom market for you. You confirm this in the wizard before creating:

  > I control this wallet and will resolve this market. If I do not resolve it, funds can remain locked indefinitely. Limitless cannot resolve it for me.

## Creating a market

Open **Create Market** in the top navigation, or go to [limitless.exchange/create-custom-market](https://limitless.exchange/create-custom-market). The wizard has six steps. Each step is saved as a draft in your browser, so you can leave and come back.

<Steps>
  <Step title="Ask a question">
    Write the title (10 to 140 characters) and set the two outcome labels. Each label is 1 to 24
    characters and the two must differ. The **first** label is the side that pays out when you
    settle "Yes", the **second** pays out on "No". A first label that reads as a refusal (such as
    "No") or a second label that reads as agreement is rejected, because the card would contradict
    the payout. You can add an optional image (JPEG, PNG, WebP, or GIF under 1 MB).

    The title is checked for prohibited content before you can continue (see
    [Content screening](#content-screening)).
  </Step>

  <Step title="Set the odds">
    Choose the opening probability of the first outcome, between 1% and 99%. Quick picks are 50%,
    60%, and 75%. This only sets where trading starts. Trades move the price from there.
  </Step>

  <Step title="Add liquidity">
    Enter the USDC amount to deposit into the pool, at or above the current minimum. This is what
    people trade against. As the only liquidity provider you earn all trading fees, and your
    deposit is at risk as people trade. You get back what is left in the pool, plus the fees, when
    you settle.
  </Step>

  <Step title="Write the resolution criteria">
    Describe how you will settle the market, in 20 to 2,000 characters. The criteria are shown on
    the market page and are what traders rely on. A good shape is: *Resolves YES if…*, *Source:
    where you will check*, *Edge cases: what does and does not count*. The criteria are checked
    for prohibited content before you can continue.
  </Step>

  <Step title="Choose an end time">
    Pick any future date and time, in 5-minute steps. Quick picks are 24 hours, 7 days, and 30
    days. Trading opens as soon as the market is created and funded, and closes at the end time.
    You can settle before the end time if the answer is already known.
  </Step>

  <Step title="Review and create">
    Check everything. Nothing can be edited after creation. Tick the resolving-wallet confirmation,
    then click **Create market**. Limitless deploys the market on chain, then asks your wallet to
    sign the funding transaction (a USDC approval first if your wallet has not approved the pool
    before). When the funding lands the market opens and you are taken to its page.
  </Step>
</Steps>

<Note>
  A market whose funding never arrives is abandoned after a short grace period and cannot be
  traded. If your funding transaction was sent but the page lost track of it, reopen the market
  page: a funding transaction that lands late is still picked up for 24 hours.
</Note>

## Content screening

The title, the outcome labels, and the resolution criteria are screened automatically for sexual content, hate, harassment, violence, self-harm, and illicit activity. Flagged text has to be changed before you can continue. Early checks in the wizard are limited to a few per hour per account; the final check at creation does not count against that limit.

Limitless can also take a market page down for a violation of the [Terms of Service](/user-guide/terms-of-service). Taking a page down does not touch positions or funds, and the creator can still settle it.

## Sharing your market

After creation you land on the market page with a share panel. The page tells you that your market is not listed anywhere and is only reachable by link. Copy the link (`limitless.exchange/markets/<slug>`) and share it wherever your audience is.

Traders who open the link see a **This Market Is User-Made** notice and accept it before their first trade:

> I understand that this Prediction Market was created by another Platform User, has not necessarily been independently verified or endorsed by the Company, and that participating may result in financial loss.

The market page also shows who created it, the resolution criteria, and a **How it works** summary: a user made this market, their rules are the contract, they resolve it, and it is private.

Your own markets are listed under **Profile → My markets**, with volume, liquidity provided, and the markets that are waiting for you to settle.

## Trading on a custom market

For traders a custom market works like other AMM markets on Limitless: you buy and sell outcome shares against the pool, the price moves with each trade, and the market's 2% fee is charged per trade. Read the resolution criteria before trading. The creator picks the winning outcome and that decision is final. There is no appeal to Limitless.

Trades on user-generated markets do not earn points and do not count toward points-program activity thresholds.

## Settling your market

When you know the answer, open the market page or **Profile → My markets** and click **Resolve market** (shown as **Resolve early** while trading is still open). Pick the winning outcome and sign from the resolving wallet.

Settlement is one action that does three things:

1. Withdraws your remaining liquidity and the fees the pool earned.
2. Reports the outcome on chain. Every position on the winning outcome becomes redeemable.
3. Redeems any winning shares you hold yourself.

A smart wallet signs this once. An external wallet signs the calls one at a time and sees a progress counter. The liquidity is pulled before the outcome is public, so nobody can buy the known winner out of your pool between the two steps.

<Warning>
  Settlement cannot be undone. Check the outcome against your own criteria before you sign.
</Warning>

After settlement, Limitless re-checks the pool within about 30 minutes. If any of your liquidity, fees, or winnings are still on chain, a **Finish settlement** button appears on the market page so you can collect them.

There is no deadline for settling. Until you settle, the traders' funds stay in the market. Markets past their end time appear in your profile as waiting for an outcome.

## Limits

| Field | Limit |
| - | - |
| Title | 10 to 140 characters |
| Outcome labels | 1 to 24 characters each, must differ |
| Resolution criteria | 20 to 2,000 characters |
| Opening odds | 1% to 99% |
| Minimum pool | Shown in the wizard, currently 1 USDC |
| Image | JPEG, PNG, WebP, or GIF under 1 MB |
| New markets per account | Daily limit, shown by the wizard when reached |

<Note>
  Custom markets are in a pilot. The total number of custom markets on the platform is capped
  while the pilot runs. If the cap is reached, the wizard says so and no new market can be
  created until it is raised.
</Note>

## For developers

A custom market is a normal market record. [Get market](/api-reference/markets/get-market) by slug returns it even though it is not listed in market feeds, with `source` set to `ugm:custom` and lifecycle fields: `customState` (`UNFUNDED`, `OPEN`, `AWAITING_OUTCOME`, `RESOLVED`, or `ABANDONED`), `customOracleAddress`, `fundedAmount`, `resolvedAt`, and `resolvedOutcome`.

Market creation happens in the app. The creation endpoints are not part of the documented public API.

## Summary

* You write the question and the rules, set the opening odds, and fund the pool yourself.
* The market is unlisted. Share the link.
* Traders pay a 2% fee per trade into your pool. You collect it, with your remaining liquidity, when you settle.
* Only the wallet you created with can settle. There is no deadline, and Limitless cannot do it for you.
* Trades on user-generated markets do not earn points.


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.