diff --git a/desktop/src/features/channels/ui/ChannelPane.tsx b/desktop/src/features/channels/ui/ChannelPane.tsx
index 77c0731cf0..bbd9027f32 100644
--- a/desktop/src/features/channels/ui/ChannelPane.tsx
+++ b/desktop/src/features/channels/ui/ChannelPane.tsx
@@ -66,7 +66,7 @@ import * as agentSessionSelection from "@/features/channels/ui/agentSessionSelec
 import { usePrepareDmSendChannel } from "@/features/channels/ui/usePrepareDmSendChannel";
 import { useChannelPaneMessages } from "@/features/channels/ui/useChannelPaneMessages";
 import { useRoutedMessageEdit } from "@/features/channels/ui/useRoutedMessageEdit";
-import { MarketChannelIntro } from "@/features/market/ui/MarketChannelIntro"; import { useMarketObserver } from "@/features/market/ui/marketChannelComposer";
+import { useMarketTimelineMessages } from "@/features/market/lib/marketTimeline"; import { MarketChannelIntro } from "@/features/market/ui/MarketChannelIntro"; import { useMarketObserver } from "@/features/market/ui/marketChannelComposer";
 import { Button } from "@/shared/ui/button";
 import { useRenderScopedReactionHydration } from "@/features/messages/lib/useRenderScopedReactionHydration";
 import { isWelcomeExperienceChannel as isWelcomeExperience } from "@/features/onboarding/welcome";
@@ -203,6 +203,7 @@ export const ChannelPane = React.memo(function ChannelPane({
   );
   const [isMainDeferredEditPending, setMainDeferredEditPending] = React.useState(false);
   const isMarketObserver = useMarketObserver(agentPubkeys, currentPubkey);
+  const marketTimelineMessages = useMarketTimelineMessages(messages);
   const isNonMemberView =
     activeChannel !== null &&
     !activeChannel.isMember &&
@@ -373,7 +374,7 @@ export const ChannelPane = React.memo(function ChannelPane({
     useChannelPaneMessages({
       activeChannel,
       isHuddleTranscript,
-      messages,
+      messages: marketTimelineMessages,
       profiles,
       threadSummaries,
     });
diff --git a/desktop/src/features/market/lib/marketProtocol.test.mjs b/desktop/src/features/market/lib/marketProtocol.test.mjs
index 693291933f..9ac50bcb9a 100644
--- a/desktop/src/features/market/lib/marketProtocol.test.mjs
+++ b/desktop/src/features/market/lib/marketProtocol.test.mjs
@@ -141,6 +141,16 @@ test("projectMarketChannel folds a channel contract through fake settlement", ()
   assert.ok(projection);
   assert.equal(projection.channelId, CHANNEL_ID);
   assert.equal(projection.contractAuthorPubkey, SELLER);
+  assert.deepEqual(projection.bids, [
+    {
+      eventId: RESPONSE_ID,
+      actorName: "Buyer Agent",
+      amountSats: 50,
+      bidderPubkey: BUYER,
+      message: "I reserve the report.",
+      quantity: 1,
+    },
+  ]);
   assert.equal(projection.scenario.status, "Fulfilled");
   assert.equal(projection.scenario.activity.length, 5);
   assert.equal(
@@ -257,6 +267,10 @@ test("reverse auction enforces the minimum decrement", () => {
   );
 
   assert.ok(projection);
+  assert.deepEqual(
+    projection.bids.map(({ eventId }) => eventId),
+    [RESPONSE_ID],
+  );
   assert.equal(projection.scenario.liveMetrics[1].value, "1");
   assert.equal(
     projection.rejected[0].reason,
diff --git a/desktop/src/features/market/lib/marketProtocol.ts b/desktop/src/features/market/lib/marketProtocol.ts
index 6405342895..d146ddcecf 100644
--- a/desktop/src/features/market/lib/marketProtocol.ts
+++ b/desktop/src/features/market/lib/marketProtocol.ts
@@ -100,11 +100,21 @@ export type MarketProjection = {
   contract: MarketContractEnvelope;
   contractAuthorPubkey: string;
   listingEventId: string;
+  bids: MarketBid[];
   scenario: MarketScenario;
   rejected: Array<{ eventId: string; reason: string }>;
   wallet: MarketWallet;
 };
 
+export type MarketBid = {
+  eventId: string;
+  actorName: string;
+  amountSats?: number;
+  bidderPubkey: string;
+  message: string;
+  quantity: number;
+};
+
 export type MarketWallet = {
   /** Awarded but not yet settled, in fake sats. */
   escrowedSats: number;
@@ -500,6 +510,16 @@ export function projectMarketChannel(
     .reverse();
 
   const settled = settlements.size > 0;
+  const bids: MarketBid[] = [...responses.entries()].map(
+    ([eventId, { envelope, note }]) => ({
+      eventId,
+      actorName: envelope.actorName,
+      amountSats: envelope.amountSats,
+      bidderPubkey: note.pubkey,
+      message: envelope.message,
+      quantity: envelope.quantity,
+    }),
+  );
   const fulfilled = fulfillments.size;
   const scenarioId = scenarioIdForListing(listing.listing, settled);
   const quantity = listing.listing.quantity;
@@ -532,6 +552,7 @@ export function projectMarketChannel(
     contract: listing,
     contractAuthorPubkey: listingEntry.note.pubkey,
     listingEventId,
+    bids,
     rejected,
     wallet: { escrowedSats, settledSats },
     scenario: {
diff --git a/desktop/src/features/market/lib/marketTimeline.test.mjs b/desktop/src/features/market/lib/marketTimeline.test.mjs
new file mode 100644
index 0000000000..95be49858f
--- /dev/null
+++ b/desktop/src/features/market/lib/marketTimeline.test.mjs
@@ -0,0 +1,117 @@
+import assert from "node:assert/strict";
+import test from "node:test";
+
+import { selectMarketTimelineMessages } from "./marketTimeline.ts";
+import { buildIndependentThreadPanel } from "@/features/messages/lib/independentThreadPanel";
+
+const PUBKEY = "f".repeat(64);
+const CHANNEL = "123e4567-e89b-12d3-a456-426614174000";
+const envelope = (type) =>
+  JSON.stringify({
+    protocol: "buzz-market/v0",
+    type,
+    channelId: CHANNEL,
+    ...(type === "contract"
+      ? {
+          version: 1,
+          listing: {
+            actorName: "Seller",
+            direction: "offer",
+            mechanism: "fixed",
+            title: "Report",
+            summary: "Deliver a report",
+            quantity: 1,
+            priceSats: 50,
+          },
+        }
+      : {
+          listingEventId: "1".repeat(64),
+          actorName: "Buyer",
+          quantity: 1,
+          amountSats: 50,
+          message: "I bid",
+        }),
+  });
+const message = (id, body, parentId = null, rootId = null) => ({
+  id,
+  body,
+  parentId,
+  rootId,
+});
+
+test("market timeline hides protocol events but leaves negotiation in its bid thread", () => {
+  const contract = message("1".repeat(64), envelope("contract"));
+  const bid = message("2".repeat(64), envelope("response"));
+  const negotiation = message(
+    "3".repeat(64),
+    "Can you deliver sooner?",
+    bid.id,
+    bid.id,
+  );
+  const nestedProtocol = message(
+    "4".repeat(64),
+    envelope("response"),
+    bid.id,
+    bid.id,
+  );
+  const ordinary = message("5".repeat(64), "General market note");
+  const projection = {
+    listingEventId: contract.id,
+    bids: [{ eventId: bid.id }],
+  };
+
+  assert.deepEqual(
+    selectMarketTimelineMessages(
+      [contract, bid, negotiation, nestedProtocol, ordinary],
+      projection,
+    ).map(({ id }) => id),
+    [negotiation.id, ordinary.id],
+  );
+  assert.equal(selectMarketTimelineMessages([contract, bid], null).length, 2);
+});
+
+const relayEvent = (id, content, tags = []) => ({
+  id,
+  pubkey: PUBKEY,
+  kind: 9,
+  created_at: 1,
+  content,
+  tags: [["h", CHANNEL], ...tags],
+  sig: "s",
+});
+
+function threadPanel(channelEvents, replyEvents, rootId) {
+  return buildIndependentThreadPanel(
+    channelEvents,
+    replyEvents,
+    rootId,
+    rootId,
+    new Set(),
+    null,
+    PUBKEY,
+    null,
+    undefined,
+    undefined,
+    new Map(),
+    new Map(),
+    null,
+    undefined,
+  );
+}
+
+test("a bid filtered from the main timeline still loads as a thread root", () => {
+  const bidId = "6".repeat(64);
+  const replyId = "7".repeat(64);
+  const bid = relayEvent(bidId, envelope("response"));
+  const reply = relayEvent(replyId, "Can you deliver sooner?", [
+    ["e", bidId, "", "root"],
+    ["e", bidId, "", "reply"],
+  ]);
+  const panel = threadPanel([bid], [reply], bidId);
+
+  assert.equal(panel.threadHead?.id, bidId);
+  assert.deepEqual(
+    panel.visibleReplies.map(({ message: entry }) => entry.id),
+    [replyId],
+  );
+});
diff --git a/desktop/src/features/market/lib/marketTimeline.ts b/desktop/src/features/market/lib/marketTimeline.ts
new file mode 100644
index 0000000000..1d7c983475
--- /dev/null
+++ b/desktop/src/features/market/lib/marketTimeline.ts
@@ -0,0 +1,22 @@
+import * as React from "react";
+import { useMarketChannel } from "@/features/market/lib/MarketChannelContext";
+import type { MarketProjection } from "@/features/market/lib/marketProtocol";
+import { parseMarketEnvelope } from "@/features/market/lib/marketProtocol";
+import type { TimelineMessage } from "@/features/messages/types";
+
+/** Keep protocol state out of the market's main chat; negotiation stays in threads. */
+export function selectMarketTimelineMessages(
+  messages: TimelineMessage[],
+  projection: MarketProjection | null,
+): TimelineMessage[] {
+  if (!projection) return messages;
+  return messages.filter((message) => !parseMarketEnvelope(message.body));
+}
+
+export function useMarketTimelineMessages(messages: TimelineMessage[]) {
+  const projection = useMarketChannel();
+  return React.useMemo(
+    () => selectMarketTimelineMessages(messages, projection),
+    [messages, projection],
+  );
+}
diff --git a/desktop/src/features/market/ui/MarketChannelIntro.tsx b/desktop/src/features/market/ui/MarketChannelIntro.tsx
index 00cde8e92e..ed407f5ff3 100644
--- a/desktop/src/features/market/ui/MarketChannelIntro.tsx
+++ b/desktop/src/features/market/ui/MarketChannelIntro.tsx
@@ -1,11 +1,89 @@
 import type * as React from "react";
+import { useAppNavigation } from "@/app/navigation/useAppNavigation";
+
+import { MessageCircle } from "lucide-react";
 
 import { useMarketChannel } from "@/features/market/lib/MarketChannelContext";
+import type { MarketBid } from "@/features/market/lib/marketProtocol";
 import { MarketContractCard } from "@/features/market/ui/MarketContractCard";
+import { Button } from "@/shared/ui/button";
+import { UserAvatar } from "@/shared/ui/UserAvatar";
+
+function BidList({
+  bids,
+  channelId,
+}: {
+  bids: MarketBid[];
+  channelId: string;
+}) {
+  const { goChannel } = useAppNavigation();
+  return (
+    <section
+      className="mt-4 border-t border-border/70 pt-4"
+      data-testid="market-bid-list"
+    >
+      <div className="mb-2 flex items-center justify-between gap-3">
+        <h3 className="text-sm font-semibold">Bids</h3>
+        <span className="text-xs text-muted-foreground">
+          {bids.length} {bids.length === 1 ? "bid" : "bids"}
+        </span>
+      </div>
+      {bids.length === 0 ? (
+        <p className="text-sm text-muted-foreground">No bids yet.</p>
+      ) : (
+        <div className="divide-y divide-border/60 overflow-hidden rounded-xl border border-border/70">
+          {bids.map((bid) => (
+            <div
+              className="flex items-center gap-3 px-3 py-2.5"
+              key={bid.eventId}
+            >
+              <UserAvatar
+                avatarUrl={null}
+                className="h-8 w-8 shrink-0 text-xs"
+                displayName={bid.actorName}
+                shape="squircle"
+                size="sm"
+              />
+              <div className="min-w-0 flex-1">
+                <div className="flex flex-wrap items-baseline gap-x-2">
+                  <span className="text-sm font-medium">{bid.actorName}</span>
+                  <span className="text-xs text-muted-foreground">
+                    {bid.amountSats != null
+                      ? `${bid.amountSats} sats per unit`
+                      : "Terms in thread"}
+                    {` · ${bid.quantity} ${bid.quantity === 1 ? "unit" : "units"}`}
+                  </span>
+                </div>
+                <p className="truncate text-sm text-muted-foreground">
+                  {bid.message}
+                </p>
+              </div>
+              <Button
+                aria-label={`Open negotiation with ${bid.actorName}`}
+                onClick={() => {
+                  void goChannel(channelId, { thread: bid.eventId });
+                }}
+                size="sm"
+                type="button"
+                variant="ghost"
+              >
+                <MessageCircle className="mr-1.5 h-4 w-4" />
+                Thread
+              </Button>
+            </div>
+          ))}
+        </div>
+      )}
+    </section>
+  );
+}
 
 export function MarketChannelIntro(): React.ReactNode {
   const projection = useMarketChannel();
   return projection ? (
-    <MarketContractCard scenario={projection.scenario} />
+    <div>
+      <MarketContractCard scenario={projection.scenario} />
+      <BidList bids={projection.bids} channelId={projection.channelId} />
+    </div>
   ) : undefined;
 }
diff --git a/desktop/src/features/market/ui/MarketMessageBody.tsx b/desktop/src/features/market/ui/MarketMessageBody.tsx
index 9ae03f440f..a4f0b44307 100644
--- a/desktop/src/features/market/ui/MarketMessageBody.tsx
+++ b/desktop/src/features/market/ui/MarketMessageBody.tsx
@@ -3,16 +3,20 @@ import { presentMarketEvent } from "@/features/market/lib/marketEventPresentatio
 import { parseMarketEnvelope } from "@/features/market/lib/marketProtocol";
 import { MarketEventCard } from "@/features/market/ui/MarketEventCard";
 
-export function MarketMessageBody(
-  content: string,
-  authorPubkey?: string,
-  eventId?: string,
-) {
+import type { TimelineMessage } from "@/features/messages/types";
+
+export function MarketMessageBody({
+  body: content,
+  pubkey: authorPubkey,
+  id: eventId,
+  parentId,
+}: Pick<TimelineMessage, "body" | "pubkey" | "id" | "parentId">) {
   return parseMarketEnvelope(content) ? (
     <MarketEventMessage
       authorPubkey={authorPubkey ?? ""}
       content={content}
       eventId={eventId}
+      isThreadReply={parentId != null}
     />
   ) : null;
 }
@@ -22,10 +26,12 @@ function MarketEventMessage({
   authorPubkey,
   content,
   eventId,
+  isThreadReply,
 }: {
   authorPubkey: string;
   content: string;
   eventId?: string;
+  isThreadReply: boolean;
 }) {
   const projection = useMarketChannel();
   const envelope = parseMarketEnvelope(content);
@@ -33,15 +39,20 @@ function MarketEventMessage({
   if (!projection) {
     return <MarketEventCard authorPubkey={authorPubkey} content={content} />;
   }
-
-  const presentation = presentMarketEvent(envelope);
+  if (isThreadReply) {
+    return (
+      <p className="max-w-full text-message">
+        {envelope.type === "contract"
+          ? envelope.listing.summary
+          : presentMarketEvent(envelope).summary}
+      </p>
+    );
+  }
+  if (envelope.type !== "response") return null;
   const rejection = eventId
     ? projection.rejected.find((entry) => entry.eventId === eventId)
     : undefined;
-  const body =
-    envelope.type === "contract"
-      ? `Opened this market: ${envelope.listing.title}`
-      : presentation.summary;
+  const body = envelope.message;
 
   return (
     <div
diff --git a/desktop/src/features/messages/ui/MessageRow.tsx b/desktop/src/features/messages/ui/MessageRow.tsx
index 8aaa2399d7..7d750ac351 100644
--- a/desktop/src/features/messages/ui/MessageRow.tsx
+++ b/desktop/src/features/messages/ui/MessageRow.tsx
@@ -408,11 +408,7 @@ export const MessageRow = React.memo(
             />
           );
         default: {
-          const marketBody = MarketMessageBody(
-            message.body,
-            message.pubkey,
-            message.id,
-          );
+          const marketBody = MarketMessageBody(message);
           if (marketBody) return marketBody;
           const waveMessage = parseWaveMessageContent(message.body);
           if (waveMessage) {