Arc Markets lets you trade on the outcome of real-world events. Each market asks a question with two possible answers — YES or NO — and you buy shares in the outcome you expect. If you are right, each share you hold pays out 1 USDC when the market resolves. If you are wrong, it pays nothing.
The price of a share is therefore also a probability. A YES share trading at 0.65 USDC means the market collectively puts the odds at roughly 65%.