Implied probability is the market’s estimate of an outcome’s likelihood, read directly from price. Because a winning share pays $1, a Yes share trading at $0.62 implies the market thinks there is a 62% chance of Yes. Tracking implied probability over time is what the price-history chart shows.
Implied Probability
The probability of an outcome inferred from its market price; a $0.62 Yes share implies a 62% chance.