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This is a market on if the CDC will denote variant B.1.1.529 (“Omicron”) under the heading Variant of High Consequence (VOHC) on its website before January 1, 2022, 12:00:01 AM ET. This market will resolve to “Yes” if the resolution source shows B.1.1.529, "Omicron" or any label which references the Omicron variant in the VOHC category at any point before the resolution date, and “No” otherwise. The resolution for this market is https://www.cdc.gov/coronavirus/2019-ncov/variants/variant-info.html which at the time of this market's inception states "Currently, there are no SARS-CoV-2 variants that rise to the level of high consequence." Other CDC links may be used if the aforementioned link changes.
Polymarket uses a central limit order book (CLOB) model — you can buy or sell shares of any outcome at the current market price, or place limit orders at your target price. All positions are settled in USDC when the market resolves.
Markets resolve through UMA's Optimistic Oracle. After the market closes, a proposer submits a resolution, followed by a 2-hour dispute window. If no dispute is raised, the resolution is accepted. Disputed markets go to UMA token holder vote.