Selling, merging, and redeeming are different exits

A position screen can show three ways to leave: sell, merge, or redeem. They are not interchangeable buttons with different labels.

Each path answers a different question about the market, the balances you hold, and whether the event has resolved.

Selling changes market exposure

Selling an outcome token before resolution sends it through the order book. The result depends on the executable quote, size, fees, and whether the order fills.

Record the filled quantity and price separately from the quantity you intended to sell. An open remainder is still exposure, not a completed exit.

Merging needs both sides

A complete Yes/No set can be merged back into pUSD when equal amounts of both positions are available. The operation uses the set you already hold; it is not the same as finding a buyer for one side.

If the two balances do not match, the unpaired amount remains a position. Keep the unmatched side visible instead of treating the whole line as collateral.

Redeeming follows resolution

After a market resolves, winning positions can be redeemed for the recorded payout and losing positions become worthless. A binary market can also have a split payout, so the resolution result still matters.

Do not call a position exited just because the event ended. Check whether it is redeemable and whether the redemption transaction has completed.

Journal the operation, not just the result

Save the action type, timestamp, balance before and after, transaction or trade reference, and the position status. This keeps a market sale, a merge, and a redemption comparable without pretending they had the same execution risk.

The useful question is not whether the position disappeared from one screen. It is which exit path changed the balance, the exposure, and the time until funds were available.

Further reading: Positions and tokens · Wallet activity · Resolution.

Explore the markets: Open Polymarket (referral link).