> ## 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.
# Negrisk / Category Markets
> Multi-outcome markets where only one result can win
## What Are Negrisk Markets?
Negrisk markets are a special kind of prediction market bundle where **only one outcome can win**. Think of them like a multiple-choice question — only one answer is correct.
Each outcome has a Yes and No orderbook, but here's the twist: **all the "No" contracts across the different outcomes are linked**.
This setup lets traders interact with bundles of outcomes more efficiently and powers a unique feature: **[share conversion](/user-guide/converting-shares)**.
## Capital Efficiency
Traditional markets require you to open separate positions for each outcome. With Negrisk, you can:
* **Switch outcomes on the fly** by converting No → Yes
* **Take broad positions** (e.g., "I think it's *not* A or B") and refine later
* **Unlock USDC** by converting extra No shares back into cash
This boosts **capital efficiency** — you do more with fewer trades and less capital tied up.
## Powering Financial Dashboards
Negrisk markets unlock forward-looking data streams for real-world decisions:
| Dashboard | Example |
| --------------------------- | -------------------------------------------------------------------- |
| **Price Feeds** | "According to Limitless, ETH will close the week at \$2,150" |
| **Interest Rate Forecasts** | "Markets expect the Fed to cut rates in July by 0.25bps" |
| **Funding Round Forecasts** | "Anthropic's post-money valuation will be \$6.4B" |
| **Portfolio Advice** | "Your portfolio's risk-adjusted future is RED. Reduce BTC exposure." |
These dashboards aren't just informational — they're **tradeable signals**.