YES token
Every Polymarket market has two tokens: YES and NO. Buying YES is a bet that the event will happen; buying NO is the opposite.
Prediction Markets 101 editorial team Updated April 16, 2026 1 min read
Definition
A YES token is a contract paying $1 if the market resolves YES, and $0 if it resolves NO. On Polymarket, YES tokens are ERC-1155 conditional tokens.
Plain-English explanation
YES tokens trade between $0.01 and $0.99. The price at any moment is the market's implied probability that the market resolves YES. At resolution, YES tokens are worth $1 (if YES wins) or $0 (if NO wins). You can trade them anytime before resolution.
Example
You buy 100 YES tokens at $0.42. You paid $42. If the market resolves YES, you receive $100. Gross profit: $58. If NO, your tokens are worthless and you lose $42.