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Belief Index is a structured investment product that packages prediction market outcome tokens into diversified, themed baskets — called series — each representing a distinct category of real-world event risk. If you have invested in index funds or ETFs, the concept is familiar: rather than selecting and managing individual positions, you gain systematic exposure to a curated basket of related markets through a single holding. Each Belief Index share represents a pro-rata claim on the underlying basket of positions held in custody, valued transparently at periodic NAV windows using a published, independently verifiable methodology.
Belief Index is currently in private alpha. Access is invite-only and experimental. See Risk Factors and Disclosures for important information before participating.

The Problem Belief Index Solves

Prediction markets are emerging as one of the most efficient mechanisms for aggregating beliefs about future events — elections, economic data releases, policy decisions, and more. But investing in them today presents challenges that will be familiar to anyone who remembers what equity markets looked like before index funds:
Each prediction market is a small, isolated pool of capital. Polymarket hosts hundreds of individual markets, each with its own order book and liquidity profile. Constructing a diversified portfolio across dozens of these markets is operationally burdensome and requires constant monitoring.
There is no single instrument that allows an investor to express a thematic view — such as “interest rates are heading lower in 2026” or “Republicans will outperform expectations in the midterms” — across multiple related events at once. Every position must be sourced, sized, and managed individually.
Individual prediction markets are binary: they settle at exactly $1 or $0. A single unexpected outcome can wipe a position to zero overnight. This discontinuous payoff profile makes concentrated single-market exposure unsuitable for most investors seeking stable returns.
Each market has its own resolution date, settlement rules, and oracle. Managing a portfolio of these requires tracking dozens of expiration events, handling settlements manually, and reallocating capital as markets resolve. This operational overhead is prohibitive at scale.

The Solution

Belief Index solves these problems by applying the core principles of index investing — diversification, systematic methodology, and transparent valuation — to prediction markets.
1

Curated, themed baskets

Each series bundles 5-15+ related prediction markets around a coherent theme, selected according to published criteria including liquidity, resolution clarity, and thematic relevance.
2

Transparent, rules-based NAV

Net Asset Value is computed at periodic NAV windows — currently every 30 minutes, subject to change — using a published methodology. Every formula is disclosed; every computation is independently verifiable. No black boxes.
3

Mutual fund mechanics

Shares are minted and redeemed at NAV windows using forward pricing, the same mechanism used by open-end mutual funds. This ensures fair treatment of all investors.
4

Managed custody

Underlying positions are held in a dedicated custody wallet on a public blockchain. Holdings are on-chain and independently verifiable, with a rigorous withdrawal process including human approval, mandatory cooldown periods, and automated solvency checks.

Series Examples

Each series tracks a coherent theme, allowing investors to express macro or event-driven views:
SeriesThemeTypical Markets
U.S. Monetary Policy Easing Expectations 2026Interest rate trajectoryFed rate decisions, inflation targets, employment thresholds
U.S. Presidential Election Republican Expectations 2028Election outcomesCandidate victories, party-level results, primary outcomes
U.S. Macro Data 2026Economic data releasesGDP prints, unemployment figures, CPI targets
An investor can express a view like “the market underestimates the likelihood of rate cuts” by holding a rates-focused series — without needing to select, weight, or manage individual contracts.

How Belief Index Compares

FeatureIndividual Prediction MarketsBelief Index
DiversificationSingle event exposureThemed basket of 5-15+ markets
Jump riskBinary ($0 or $1)Smoothed across multiple uncorrelated events
Operational burdenMonitor and manage each positionSingle holding per theme
ValuationCheck each order bookPublished NAV at regular windows
VerificationTrust the platformOn-chain positions, published methodology
Entry/exitTrade each market individuallyMint/redeem shares at NAV

Traditional Finance Analogies

Just as an S&P 500 index fund bundles hundreds of stocks into a single investable product, a Belief Index series bundles multiple prediction markets into a single position. You own shares of the basket, not the individual constituents directly. Like an ETF, Belief Index has a creation/redemption mechanism: new shares are created when investors deposit capital and shares are retired when investors redeem. The key difference is that Belief Index shares are not exchange-traded — minting and redemption happen directly with the fund at NAV, like an open-end mutual fund.

Key Principles

  • Transparent — The NAV methodology is fully published. Investors can replicate any computation independently using public market data and a spreadsheet.
  • Systematic — Index composition and weighting follow rules-based methodology, not discretionary judgment. Market selection criteria are defined and documented.
  • Theme-driven — Each series tracks a coherent risk domain, enabling investors to express specific macro or event-driven views with precision.
  • Institutional mechanics — Forward pricing, pro-rata allocation, independent gating of mints and redemptions, and double-entry fund accounting follow established mutual fund conventions.

Getting Started