Event contracts
An event contract pays a fixed amount if a specific outcome happens — it settles to yes or no. Your risk is capped at what you paid to enter.
Perpetual futures
A perpetual tracks a continuous price and moves up or down with it. Gains and losses scale with how far the price moves and how much leverage you used.
Choosing
Use event contracts for defined yes/no questions with capped risk; use perpetuals for continuous price exposure in either direction.