Can I exit a position before the event occurs?

Trade event contracts on IBKR Prediction Markets. Log into IBKR Prediction Markets using your IBKR login credentials. You can view event contracts from the IBKR Prediction Markets link in our trading platforms…

Yes, you can place orders on an IBKR trading platform at any time, including the weekend. However, the orders will not submit to the exchange until the exchange opens for trading (including pre-market where available).  …

What is an event contract?

An event contract is a standardized, exchange-listed contract that lets you take a Yes/No position on the outcome of a specific, measurable event. For example, you can trade on whether a particular asset's price will be above a certain level at a set time. Each contract settles at a fixed value if the event happens ("Yes") and at zero if it does not ("No"). You can trade event contracts on Interactive Brokers through the Prediction Markets platform…

The maximum risk on a long position in a CME Event contract will be the amount of money the market participant pays as the premium for that event contract…