A void market returns collateral according to the refund rule written for that market. If you usually trade on a centralised exchange, think of it as a position being settled under its own rules, rather than a trade being reversed. You connect your wallet, check the market rules, and sign a transaction to claim any refund.
When does a market count as void?
A market is void when its rules say the event cannot be settled as a normal win or loss. For example, a match might be abandoned before the required result is recorded. The exact trigger depends on the market: an event being postponed may void it, or the rules may allow a new deadline.
Read the resolution criteria before you buy. They name the source of the result and explain what happens in edge cases, such as a cancellation or missing data. Phantom’s prediction market disclosures also describe why each market’s own rules matter: the event source and settlement conditions can affect the result.
If you are considering Byreal prediction markets, check the event’s cancellation and refund rules before buying. Byreal is part of the Solana trading world, where a wallet signs transactions that move tokens through on-chain programs.
How does the collateral get back to you?
First, the market’s resolver marks the event void under its stated rules. A resolver is the process or authority that records the outcome. The market’s settlement program then applies the refund formula to eligible positions; it does not usually recreate your original buy order.
For a simple example, say a market locks 100 USDC as collateral and its rules refund 0.50 USDC for each eligible YES or NO share. A wallet holding 12 eligible shares would claim 6 USDC, before any applicable transaction costs. Your refund follows the shares and formula at settlement, so it may differ from what you paid for them.
That distinction matters if you bought shares from another trader. Your purchase price reflects the market price at that moment; the void formula may use a fixed refund per share or another rule. Check whether the market requires you to claim manually, and which token account receives the payout. Solana documentation explains that wallet-signed transactions carry instructions for programs to execute, so a claim is a new transaction, not an exchange-style account credit.
What should you check before signing?
Start with three details: what makes the event void, how much each eligible share returns, and how you claim. Check the market’s deadline and source for results too. A postponed event, an unclear result, and a cancelled event may have different treatments.
Then check the transaction in your wallet. Confirm the market and token, the amount you are claiming, and the network fee shown before you sign. A void refund can return collateral, but it does not guarantee you recover your purchase cost or avoid fees.
Your next step is to open the event rules and calculate the refund using your share count. If the void condition or payout formula is unclear, wait until you can verify it. That small check tells you what your wallet can actually claim if the event cannot be settled normally.
Does a void refund mean I get my full purchase price back?
No. The market applies its stated refund formula to eligible shares. If you paid more per share than that formula returns, you can receive less than your purchase cost. Network fees may also reduce the amount left in your wallet.
Do I need to claim a void refund myself?
It depends on the market. Some systems settle automatically; others require you to submit a claim transaction after the void status is recorded. Check the event page and your wallet’s position details for the claim step and destination token.