market structure.

A markets-and-systems note on Polymarket bot narratives, complementary-share arbitrage, fee drag, speed edges, and why prediction-market alpha gets more operational the moment many bots show up.

A technical note on instrument identity, symbology resolution, derivatives modeling, and why broker-specific security labels should not become the platform ontology.

An exploratory markets essay on OPRA licensing, professional versus non-professional classification, direct-access fees, and the public vendor pricing that matters more for most individual options backtests.