semantic governance

The rule layer that determines what a market's outcome actually means: initial on-chain rule text, creator clarifications, and versioned rule updates. It is distinct from the technical act of requesting or settling a resolution, and it can change after an oracle request exists but before any proposal is made.

Cluster: Oracle & Resolution

Related Concepts

• settlement finality — The idea that resolution ends in distinct, non-interchangeable layers rather than one event: oracle finality (a value is proposed, disputed, and settled), protocol finality (payout is recorded and the adapter is terminal), and cash finality (the holder has redeemed). Reaching one layer does not imply the others, which matters for when collateral can safely be released.
• oracle design — Systems that feed real-world outcomes into prediction markets, determining how events are verified and settled.
• dispute resolution — Mechanisms for challenging and adjudicating contested market outcomes when participants disagree on results.
• UMA protocol — Optimistic oracle system where outcomes are assumed correct unless disputed, using economic bonds for security.

Articles about semantic governance

• Resolution Is Not Settlement, Part I: Oracle Adjudication and Semantic Governance on Polymarket by Maksym Nechepurenko