P&L
Last reviewed 2026-08-07
P&L — definition
Profit and Loss — the running total of what you've made or lost, both realized (closed trades) and unrealized (open positions).
Realized P&L = settled trades + closed positions. Unrealized P&L = open positions marked to a reference price (usually mid).
Tax treatment of P&L in the US is still evolving for event contracts. Talk to a CPA.
Learn more: How prediction markets work
See also
Frequently asked questions
What does p&l mean in prediction markets?
Profit and Loss — the running total of what you've made or lost, both realized (closed trades) and unrealized (open positions).
How does p&l work in practice?
Realized P&L = settled trades + closed positions. Unrealized P&L = open positions marked to a reference price (usually mid).
Sources & further reading
- CFTC — Event contracts explainedU.S. Commodity Futures Trading Commission
- Kalshi — how prices and settlement workKalshi
- UMA Optimistic Oracle documentationUMA Protocol
Last reviewed 2026-08-07 · CollegePredictionMarkets.com