Is this essentially just giving you leverage in PredictIt?
This process increased my “cash” on PredictIt by $117, but it looks like it will probably pay out around 15⁄14.75*850 − 850 = $15. If I lost my $117 on some other bet, would my PredictIt balance eventually end up negative?
No, you can’t go negative. The “cash” is actually cash (modulo a delay and a 5% withdraw fee). If you withdraw or lose, you won’t be able to sell you shares from this market, but there is no risk of debt.
Is this essentially just giving you leverage in PredictIt?
This process increased my “cash” on PredictIt by $117, but it looks like it will probably pay out around 15⁄14.75*850 − 850 = $15. If I lost my $117 on some other bet, would my PredictIt balance eventually end up negative?
No, you can’t go negative. The “cash” is actually cash (modulo a delay and a 5% withdraw fee). If you withdraw or lose, you won’t be able to sell you shares from this market, but there is no risk of debt.