Limit order
Limit orders avoid spread cost and give you price control, but may not fill.
Prediction Markets 101 editorial team Updated April 16, 2026 1 min read
Definition
A limit order is a buy or sell order at a specific price. It fills only if the market reaches your price.
Plain-English explanation
When you post a limit order, it sits in the order book at your price. If the market moves to your price and a counter-trader crosses it, you fill. Otherwise it stays open until you cancel or the market expires.
Example
Best ask is $0.52. You post a limit buy at $0.50. You wait. If a seller lowers their ask to $0.50, you fill. If not, you don't buy.