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icon for GPT-6 released by…?

GPT-6 released by…?

icon for GPT-6 released by…?

GPT-6 released by…?

$1,543,908 Vol.

Aug 31, 2026
Polymarket

$1,543,908 Vol.

Polymarket

August 31, 2026

$249,207 Vol.

1%

September 15, 2026

$1,470 Vol.

22%

September 30, 2026

$257,456 Vol.

36%

October 31, 2026

$1,511 Vol.

49%

November 30, 2026

$6 Vol.

60%

December 31, 2026

$150,354 Vol.

70%

This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by September 15, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by September 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by October 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by March 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by July 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 7, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 14, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 21, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.OpenAI has yet to release a model named GPT-6 as of late August 2026, with the most recent flagship being the GPT-5.6 family (Sol, Terra, Luna) rolled out in July following the April 2026 GPT-5.5 "Spud" launch. Trader sentiment centers on internal progress toward a next frontier model, tentatively codenamed Astra, after pre-training milestones earlier in the year and recent leaks about advanced capabilities. Competitive pressure from Anthropic, Google, and Chinese labs, alongside safety evaluations and infrastructure scaling like Stargate, shapes timelines. Markets price moderate odds for a 2026 release, reflecting uncertainty around official naming, preview windows, and potential regulatory reviews that could delay or accelerate the next major version.

This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public.

GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution.

The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.
Volume
$1,543,908
End Date
Jan 1, 2027
Market Opened
Jul 8, 2026, 5:27 PM ET
This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.
This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by September 15, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by September 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by October 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by December 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by March 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by June 30, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by July 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 7, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 14, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 21, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.OpenAI has yet to release a model named GPT-6 as of late August 2026, with the most recent flagship being the GPT-5.6 family (Sol, Terra, Luna) rolled out in July following the April 2026 GPT-5.5 "Spud" launch. Trader sentiment centers on internal progress toward a next frontier model, tentatively codenamed Astra, after pre-training milestones earlier in the year and recent leaks about advanced capabilities. Competitive pressure from Anthropic, Google, and Chinese labs, alongside safety evaluations and infrastructure scaling like Stargate, shapes timelines. Markets price moderate odds for a 2026 release, reflecting uncertainty around official naming, preview windows, and potential regulatory reviews that could delay or accelerate the next major version.

This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No."

For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public.

GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution.

The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.
Volume
$1,543,908
End Date
Jan 1, 2027
Market Opened
Jul 8, 2026, 5:27 PM ET
This market will resolve to "Yes" if OpenAI's GPT-6 model is made available to the general public by August 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No." For this market to resolve to "Yes," GPT-6 must be launched and publicly accessible, including via open beta or open rolling waitlist signups. A closed beta or any form of private access will not suffice. The release must be clearly defined and publicly announced by OpenAI as being accessible to the general public. GPT-6 refers to a product explicitly named GPT-6 (e.g. ChatGPT-6o would count), or one that is recognized as a successor to GPT-5, similar to the progression from GPT-3 to GPT-4. Products labeled as GPT-5.5 or similar will not count for this market's resolution. The primary resolution source for this market will be official information from OpenAI, with additional verification from a consensus of credible reporting.

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Frequently Asked Questions

"GPT-6 released by…?" is a prediction market on Polymarket with 13 possible outcomes where traders buy and sell shares based on what they believe will happen. The current leading outcome is "December 31, 2026" at 70%, followed by "November 30, 2026" at 60%. Prices reflect real-time crowd-sourced probabilities. For example, a share priced at 70¢ implies that the market collectively assigns a 70% 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, "GPT-6 released by…?" has generated $1.5 million in total trading volume since the market launched on Aug 7, 2025. 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 "GPT-6 released by…?," browse the 13 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.

The current frontrunner for "GPT-6 released by…?" is "December 31, 2026" at 70%, meaning the market assigns a 70% chance to that outcome. The next closest outcome is "November 30, 2026" at 60%. These odds update in real-time as traders buy and sell shares, so they reflect the latest collective view of what's most likely to happen. Check back frequently or bookmark this page to follow how the odds shift as new information emerges.

The resolution rules for "GPT-6 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.