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Overview

Prediction markets have two native mechanisms that don’t exist in traditional instruments: Merging and Splitting shares.
Merge and split interface

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Splitting

Split $1 into 1 Yes share + 1 No share. This is useful when you want to take a position on one side without buying from the orderbook — split collateral and sell the side you don’t want.

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Merging

Merge 1 Yes share + 1 No share back into $1 collateral. This lets you exit both sides of a position and recover your collateral without selling on the orderbook.

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Why Use Merge / Split?

  • Capital efficiency — Open and close positions without relying on orderbook liquidity
  • Better execution — Avoid paying the spread
  • Liquidity defragmentation — Under the hood, this enables better orderbook matching across Yes/No assets
Merge and split operations are available directly in the market UI. Look for the Merge/Split option on the market page.