NO token
NO tokens let you bet against an event happening.
Prediction Markets 101 editorial team Updated April 16, 2026 1 min read
Definition
A NO token pays $1 if the market resolves NO and $0 if it resolves YES. The mirror of a YES token.
Plain-English explanation
NO prices must sum with YES prices to approximately $1 (by arbitrage — otherwise you could buy both sides and lock in a profit). If YES is at $0.42, NO is at about $0.58.
Example
You think the Fed won't cut rates. YES on a 'will they cut?' market is at $0.58. You buy NO at $0.42. If they hold, you receive $1 per token.