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icon for New "Stranger Things" episode released by...?

New "Stranger Things" episode released by...?

icon for New "Stranger Things" episode released by...?

New "Stranger Things" episode released by...?

$30,267,190 Vol.

Jan 7, 2026
Polymarket

$30,267,190 Vol.

Polymarket

June 30

$64,733 Vol.

1%

December 31

$1,009,661 Vol.

6%

July 31

$41,785 Vol.

1%

This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and July 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and January 7, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and January 14, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and January 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and March 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and April 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and May 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and February 28, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and March 15, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.Season 5 of Stranger Things wrapped its final episode on January 1, 2026, leaving no new main-series installments slated for summer 2026 and pushing trader focus toward potential spin-offs or anniversary-tied content. With the franchise’s core story concluded, attention has shifted to ancillary releases like the complete Season 5 script book dropping July 14 and the 10-year anniversary events around mid-July, though neither qualifies as a new streaming episode. Netflix has greenlit additional episodes of the animated Tales From ‘85 spin-off for later in the year, but no firm summer or early-fall premiere date has been confirmed, keeping probabilities fragmented across distant monthly outcomes. Traders are watching for any surprise drop tied to the July anniversary or official spin-off updates that could resolve the market sooner than the currently low single-digit odds suggest.

This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series.

If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix.

The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.
Volume
$30,267,190
End Date
Jan 7, 2026
Market Opened
Jan 6, 2026, 12:22 AM ET

Resolver

0x65070BE91...
This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.
This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and July 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and January 7, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and January 14, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and January 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and March 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and April 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and May 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and February 28, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and March 15, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.Season 5 of Stranger Things wrapped its final episode on January 1, 2026, leaving no new main-series installments slated for summer 2026 and pushing trader focus toward potential spin-offs or anniversary-tied content. With the franchise’s core story concluded, attention has shifted to ancillary releases like the complete Season 5 script book dropping July 14 and the 10-year anniversary events around mid-July, though neither qualifies as a new streaming episode. Netflix has greenlit additional episodes of the animated Tales From ‘85 spin-off for later in the year, but no firm summer or early-fall premiere date has been confirmed, keeping probabilities fragmented across distant monthly outcomes. Traders are watching for any surprise drop tied to the July anniversary or official spin-off updates that could resolve the market sooner than the currently low single-digit odds suggest.

This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No".

For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series.

If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix.

The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.
Volume
$30,267,190
End Date
Jan 7, 2026
Market Opened
Jan 6, 2026, 12:22 AM ET

Resolver

0x65070BE91...
This market will resolve to "Yes" if Netflix officially releases a new episode of Stranger Things (i.e., an episode that was not previously available to stream on Netflix) between market creation and December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". For the purposes of this market, an “episode” must be listed as a distinct episode of Stranger Things on Netflix and be playable for general subscribers in the United States. A behind-the-scenes featurette, documentary, trailer, recap, cast interview, deleted scenes compilation, or other bonus content will not count unless it is clearly presented by Netflix as an official numbered or titled episode of the series. If Netflix releases an alternate cut, extended cut, or “secret” version of an already-released episode, it will not count unless it is listed as a separate episode entry on Netflix. The primary resolution source for this market will be the Stranger Things title page on Netflix (episode list and availability), however a consensus of credible reporting may also be used.

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Frequently Asked Questions

"New "Stranger Things" episode released by...?" is a prediction market on Polymarket with 11 possible outcomes where traders buy and sell shares based on what they believe will happen. The current leading outcome is "December 31" at 6%, followed by "June 30" at 1%. Prices reflect real-time crowd-sourced probabilities. For example, a share priced at 6¢ implies that the market collectively assigns a 6% chance to that outcome. These odds shift continuously as traders react to new developments and information. Shares in the correct outcome are redeemable for $1 each upon market resolution.

As of today, "New "Stranger Things" episode released by...?" has generated $30.3 million in total trading volume since the market launched on Jan 5, 2026. This level of trading activity reflects strong engagement from the Polymarket community and helps ensure that the current odds are informed by a deep pool of market participants. You can track live price movements and trade on any outcome directly on this page.

To trade on "New "Stranger Things" episode released by...?," browse the 11 available outcomes listed on this page. Each outcome displays a current price representing the market's implied probability. To take a position, select the outcome you believe is most likely, choose "Yes" to trade in favor of it or "No" to trade against it, enter your amount, and click "Trade." If your chosen outcome is correct when the market resolves, your "Yes" shares pay out $1 each. If it's incorrect, they pay out $0. You can also sell your shares at any time before resolution if you want to lock in a profit or cut a loss.

This is a wide-open market. The current leader for "New "Stranger Things" episode released by...?" is "December 31" at just 6%, with "June 30" close behind at 1%. With no outcome commanding a strong majority, traders see this as highly uncertain, which can present unique trading opportunities. These odds update in real-time, so bookmark this page to watch how the probabilities evolve.

The resolution rules for "New "Stranger Things" episode released by...?" define exactly what needs to happen for each outcome to be declared a winner — including the official data sources used to determine the result. You can review the complete resolution criteria in the "Rules" section on this page above the comments. We recommend reading the rules carefully before trading, as they specify the precise conditions, edge cases, and sources that govern how this market is settled.