diff --git a/Cargo.lock b/Cargo.lock
index 45d4359cc..2d6b3d84d 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -232,21 +232,22 @@ version = "0.4.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "c775f0d12169cba7aae4caeb547bb6a50781c7449a8aa53793827c9ec4abf488"
 dependencies = [
- "ark-ec",
- "ark-ff",
- "ark-serialize",
- "ark-std",
+ "ark-ec 0.4.2",
+ "ark-ff 0.4.2",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
 ]
 
 [[package]]
 name = "ark-bn254"
-version = "0.4.0"
+version = "0.5.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a22f4561524cd949590d78d7d4c5df8f592430d221f7f3c9497bbafd8972120f"
+checksum = "d69eab57e8d2663efa5c63135b2af4f396d66424f88954c21104125ab6b3e6bc"
 dependencies = [
- "ark-ec",
- "ark-ff",
- "ark-std",
+ "ark-ec 0.5.0",
+ "ark-ff 0.5.0",
+ "ark-r1cs-std",
+ "ark-std 0.5.0",
 ]
 
 [[package]]
@@ -255,10 +256,10 @@ version = "0.4.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "defd9a439d56ac24968cca0571f598a61bc8c55f71d50a89cda591cb750670ba"
 dependencies = [
- "ark-ff",
- "ark-poly",
- "ark-serialize",
- "ark-std",
+ "ark-ff 0.4.2",
+ "ark-poly 0.4.2",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "derivative",
  "hashbrown 0.13.2",
  "itertools 0.10.5",
@@ -266,6 +267,27 @@ dependencies = [
  "zeroize",
 ]
 
+[[package]]
+name = "ark-ec"
+version = "0.5.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "43d68f2d516162846c1238e755a7c4d131b892b70cc70c471a8e3ca3ed818fce"
+dependencies = [
+ "ahash 0.8.11",
+ "ark-ff 0.5.0",
+ "ark-poly 0.5.0",
+ "ark-serialize 0.5.0",
+ "ark-std 0.5.0",
+ "educe",
+ "fnv",
+ "hashbrown 0.15.2",
+ "itertools 0.13.0",
+ "num-bigint",
+ "num-integer",
+ "num-traits",
+ "zeroize",
+]
+
 [[package]]
 name = "ark-ed-on-bls12-381-bandersnatch"
 version = "0.4.0"
@@ -273,9 +295,9 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "f9cde0f2aa063a2a5c28d39b47761aa102bda7c13c84fc118a61b87c7b2f785c"
 dependencies = [
  "ark-bls12-381",
- "ark-ec",
- "ark-ff",
- "ark-std",
+ "ark-ec 0.4.2",
+ "ark-ff 0.4.2",
+ "ark-std 0.4.0",
 ]
 
 [[package]]
@@ -284,10 +306,10 @@ version = "0.4.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "ec847af850f44ad29048935519032c33da8aa03340876d351dfab5660d2966ba"
 dependencies = [
- "ark-ff-asm",
- "ark-ff-macros",
- "ark-serialize",
- "ark-std",
+ "ark-ff-asm 0.4.2",
+ "ark-ff-macros 0.4.2",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "derivative",
  "digest 0.10.7",
  "itertools 0.10.5",
@@ -298,6 +320,26 @@ dependencies = [
  "zeroize",
 ]
 
+[[package]]
+name = "ark-ff"
+version = "0.5.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "a177aba0ed1e0fbb62aa9f6d0502e9b46dad8c2eab04c14258a1212d2557ea70"
+dependencies = [
+ "ark-ff-asm 0.5.0",
+ "ark-ff-macros 0.5.0",
+ "ark-serialize 0.5.0",
+ "ark-std 0.5.0",
+ "arrayvec 0.7.4",
+ "digest 0.10.7",
+ "educe",
+ "itertools 0.13.0",
+ "num-bigint",
+ "num-traits",
+ "paste",
+ "zeroize",
+]
+
 [[package]]
 name = "ark-ff-asm"
 version = "0.4.2"
@@ -308,6 +350,16 @@ dependencies = [
  "syn 1.0.109",
 ]
 
+[[package]]
+name = "ark-ff-asm"
+version = "0.5.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "62945a2f7e6de02a31fe400aa489f0e0f5b2502e69f95f853adb82a96c7a6b60"
+dependencies = [
+ "quote",
+ "syn 2.0.79",
+]
+
 [[package]]
 name = "ark-ff-macros"
 version = "0.4.2"
@@ -321,29 +373,86 @@ dependencies = [
  "syn 1.0.109",
 ]
 
+[[package]]
+name = "ark-ff-macros"
+version = "0.5.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "09be120733ee33f7693ceaa202ca41accd5653b779563608f1234f78ae07c4b3"
+dependencies = [
+ "num-bigint",
+ "num-traits",
+ "proc-macro2",
+ "quote",
+ "syn 2.0.79",
+]
+
 [[package]]
 name = "ark-poly"
 version = "0.4.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "d320bfc44ee185d899ccbadfa8bc31aab923ce1558716e1997a1e74057fe86bf"
 dependencies = [
- "ark-ff",
- "ark-serialize",
- "ark-std",
+ "ark-ff 0.4.2",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "derivative",
  "hashbrown 0.13.2",
 ]
 
+[[package]]
+name = "ark-poly"
+version = "0.5.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "579305839da207f02b89cd1679e50e67b4331e2f9294a57693e5051b7703fe27"
+dependencies = [
+ "ahash 0.8.11",
+ "ark-ff 0.5.0",
+ "ark-serialize 0.5.0",
+ "ark-std 0.5.0",
+ "educe",
+ "fnv",
+ "hashbrown 0.15.2",
+]
+
+[[package]]
+name = "ark-r1cs-std"
+version = "0.5.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "941551ef1df4c7a401de7068758db6503598e6f01850bdb2cfdb614a1f9dbea1"
+dependencies = [
+ "ark-ec 0.5.0",
+ "ark-ff 0.5.0",
+ "ark-relations",
+ "ark-std 0.5.0",
+ "educe",
+ "num-bigint",
+ "num-integer",
+ "num-traits",
+ "tracing",
+]
+
+[[package]]
+name = "ark-relations"
+version = "0.5.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "ec46ddc93e7af44bcab5230937635b06fb5744464dd6a7e7b083e80ebd274384"
+dependencies = [
+ "ark-ff 0.5.0",
+ "ark-std 0.5.0",
+ "tracing",
+ "tracing-subscriber",
+]
+
 [[package]]
 name = "ark-scale"
 version = "0.0.10"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "49b08346a3e38e2be792ef53ee168623c9244d968ff00cd70fb9932f6fe36393"
 dependencies = [
- "ark-ec",
- "ark-ff",
- "ark-serialize",
- "ark-std",
+ "ark-ec 0.4.2",
+ "ark-ff 0.4.2",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "parity-scale-codec",
 ]
 
@@ -353,10 +462,10 @@ version = "0.0.12"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "5f69c00b3b529be29528a6f2fd5fa7b1790f8bed81b9cdca17e326538545a179"
 dependencies = [
- "ark-ec",
- "ark-ff",
- "ark-serialize",
- "ark-std",
+ "ark-ec 0.4.2",
+ "ark-ff 0.4.2",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "parity-scale-codec",
  "scale-info",
 ]
@@ -366,10 +475,10 @@ name = "ark-secret-scalar"
 version = "0.0.2"
 source = "git+https://github.com/w3f/ring-vrf?rev=3119f51#3119f51b54b69308abfb0671f6176cb125ae1bf1"
 dependencies = [
- "ark-ec",
- "ark-ff",
- "ark-serialize",
- "ark-std",
+ "ark-ec 0.4.2",
+ "ark-ff 0.4.2",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "ark-transcript",
  "digest 0.10.7",
  "rand_core 0.6.4",
@@ -382,8 +491,21 @@ version = "0.4.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "adb7b85a02b83d2f22f89bd5cac66c9c89474240cb6207cb1efc16d098e822a5"
 dependencies = [
- "ark-serialize-derive",
- "ark-std",
+ "ark-serialize-derive 0.4.2",
+ "ark-std 0.4.0",
+ "digest 0.10.7",
+ "num-bigint",
+]
+
+[[package]]
+name = "ark-serialize"
+version = "0.5.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "3f4d068aaf107ebcd7dfb52bc748f8030e0fc930ac8e360146ca54c1203088f7"
+dependencies = [
+ "ark-serialize-derive 0.5.0",
+ "ark-std 0.5.0",
+ "arrayvec 0.7.4",
  "digest 0.10.7",
  "num-bigint",
 ]
@@ -399,6 +521,17 @@ dependencies = [
  "syn 1.0.109",
 ]
 
+[[package]]
+name = "ark-serialize-derive"
+version = "0.5.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "213888f660fddcca0d257e88e54ac05bca01885f258ccdf695bafd77031bb69d"
+dependencies = [
+ "proc-macro2",
+ "quote",
+ "syn 2.0.79",
+]
+
 [[package]]
 name = "ark-std"
 version = "0.4.0"
@@ -409,14 +542,24 @@ dependencies = [
  "rand 0.8.5",
 ]
 
+[[package]]
+name = "ark-std"
+version = "0.5.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "246a225cc6131e9ee4f24619af0f19d67761fff15d7ccc22e42b80846e69449a"
+dependencies = [
+ "num-traits",
+ "rand 0.8.5",
+]
+
 [[package]]
 name = "ark-transcript"
 version = "0.0.2"
 source = "git+https://github.com/w3f/ring-vrf?rev=3119f51#3119f51b54b69308abfb0671f6176cb125ae1bf1"
 dependencies = [
- "ark-ff",
- "ark-serialize",
- "ark-std",
+ "ark-ff 0.4.2",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "digest 0.10.7",
  "rand_core 0.6.4",
  "sha3",
@@ -751,12 +894,12 @@ version = "0.0.1"
 source = "git+https://github.com/w3f/ring-vrf?rev=3119f51#3119f51b54b69308abfb0671f6176cb125ae1bf1"
 dependencies = [
  "ark-bls12-381",
- "ark-ec",
+ "ark-ec 0.4.2",
  "ark-ed-on-bls12-381-bandersnatch",
- "ark-ff",
+ "ark-ff 0.4.2",
  "ark-scale 0.0.12",
- "ark-serialize",
- "ark-std",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "dleq_vrf",
  "fflonk",
  "merlin 3.0.0",
@@ -1441,11 +1584,11 @@ name = "common"
 version = "0.1.0"
 source = "git+https://github.com/w3f/ring-proof?rev=0e948f3#0e948f3c28cbacecdd3020403c4841c0eb339213"
 dependencies = [
- "ark-ec",
- "ark-ff",
- "ark-poly",
- "ark-serialize",
- "ark-std",
+ "ark-ec 0.4.2",
+ "ark-ff 0.4.2",
+ "ark-poly 0.4.2",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "fflonk",
  "merlin 3.0.0",
 ]
@@ -2599,12 +2742,12 @@ name = "dleq_vrf"
 version = "0.0.2"
 source = "git+https://github.com/w3f/ring-vrf?rev=3119f51#3119f51b54b69308abfb0671f6176cb125ae1bf1"
 dependencies = [
- "ark-ec",
- "ark-ff",
+ "ark-ec 0.4.2",
+ "ark-ff 0.4.2",
  "ark-scale 0.0.10",
  "ark-secret-scalar",
- "ark-serialize",
- "ark-std",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "ark-transcript",
  "arrayvec 0.7.4",
  "rand_core 0.6.4",
@@ -2751,6 +2894,18 @@ dependencies = [
  "zeroize",
 ]
 
+[[package]]
+name = "educe"
+version = "0.6.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "1d7bc049e1bd8cdeb31b68bbd586a9464ecf9f3944af3958a7a9d0f8b9799417"
+dependencies = [
+ "enum-ordinalize",
+ "proc-macro2",
+ "quote",
+ "syn 2.0.79",
+]
+
 [[package]]
 name = "either"
 version = "1.11.0"
@@ -2794,6 +2949,26 @@ dependencies = [
  "syn 1.0.109",
 ]
 
+[[package]]
+name = "enum-ordinalize"
+version = "4.3.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "fea0dcfa4e54eeb516fe454635a95753ddd39acda650ce703031c6973e315dd5"
+dependencies = [
+ "enum-ordinalize-derive",
+]
+
+[[package]]
+name = "enum-ordinalize-derive"
+version = "4.3.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "0d28318a75d4aead5c4db25382e8ef717932d0346600cacae6357eb5941bc5ff"
+dependencies = [
+ "proc-macro2",
+ "quote",
+ "syn 2.0.79",
+]
+
 [[package]]
 name = "enumflags2"
 version = "0.7.9"
@@ -3055,11 +3230,11 @@ name = "fflonk"
 version = "0.1.0"
 source = "git+https://github.com/w3f/fflonk#1e854f35e9a65d08b11a86291405cdc95baa0a35"
 dependencies = [
- "ark-ec",
- "ark-ff",
- "ark-poly",
- "ark-serialize",
- "ark-std",
+ "ark-ec 0.4.2",
+ "ark-ff 0.4.2",
+ "ark-poly 0.4.2",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "merlin 3.0.0",
 ]
 
@@ -3862,6 +4037,15 @@ dependencies = [
  "serde",
 ]
 
+[[package]]
+name = "hashbrown"
+version = "0.15.2"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "bf151400ff0baff5465007dd2f3e717f3fe502074ca563069ce3a6629d07b289"
+dependencies = [
+ "allocator-api2",
+]
+
 [[package]]
 name = "heck"
 version = "0.4.1"
@@ -4083,7 +4267,7 @@ dependencies = [
  "iana-time-zone-haiku",
  "js-sys",
  "wasm-bindgen",
- "windows-core 0.52.0",
+ "windows-core",
 ]
 
 [[package]]
@@ -4339,6 +4523,15 @@ dependencies = [
  "either",
 ]
 
+[[package]]
+name = "itertools"
+version = "0.13.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "413ee7dfc52ee1a4949ceeb7dbc8a33f2d6c088194d9f922fb8318faf1f01186"
+dependencies = [
+ "either",
+]
+
 [[package]]
 name = "itoa"
 version = "1.0.11"
@@ -4623,7 +4816,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "0c2a198fb6b0eada2a8df47933734e6d35d350665a33a3593d7164fa52c75c19"
 dependencies = [
  "cfg-if",
- "windows-targets 0.52.5",
+ "windows-targets 0.48.5",
 ]
 
 [[package]]
@@ -9644,11 +9837,11 @@ name = "ring"
 version = "0.1.0"
 source = "git+https://github.com/w3f/ring-proof?rev=0e948f3#0e948f3c28cbacecdd3020403c4841c0eb339213"
 dependencies = [
- "ark-ec",
- "ark-ff",
- "ark-poly",
- "ark-serialize",
- "ark-std",
+ "ark-ec 0.4.2",
+ "ark-ff 0.4.2",
+ "ark-poly 0.4.2",
+ "ark-serialize 0.4.2",
+ "ark-std 0.4.0",
  "common",
  "fflonk",
  "merlin 3.0.0",
@@ -13753,7 +13946,7 @@ checksum = "97fee6b57c6a41524a810daee9286c02d7752c4253064d0b05472833a438f675"
 dependencies = [
  "cfg-if",
  "digest 0.10.7",
- "rand 0.8.5",
+ "rand 0.7.3",
  "static_assertions",
 ]
 
@@ -14532,7 +14725,7 @@ version = "0.51.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "ca229916c5ee38c2f2bc1e9d8f04df975b4bd93f9955dc69fabb5d91270045c9"
 dependencies = [
- "windows-core 0.51.1",
+ "windows-core",
  "windows-targets 0.48.5",
 ]
 
@@ -14545,15 +14738,6 @@ dependencies = [
  "windows-targets 0.48.5",
 ]
 
-[[package]]
-name = "windows-core"
-version = "0.52.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "33ab640c8d7e35bf8ba19b884ba838ceb4fba93a4e8c65a9059d08afcfc683d9"
-dependencies = [
- "windows-targets 0.52.5",
-]
-
 [[package]]
 name = "windows-sys"
 version = "0.45.0"
@@ -15194,7 +15378,7 @@ name = "zrml-combinatorial-tokens"
 version = "0.5.5"
 dependencies = [
  "ark-bn254",
- "ark-ff",
+ "ark-ff 0.5.0",
  "env_logger 0.10.2",
  "frame-benchmarking",
  "frame-support",
diff --git a/Cargo.toml b/Cargo.toml
index 13d473b46..e7b24ef66 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -276,8 +276,8 @@ url = "2.5.0"
 
 # Other (wasm)
 arbitrary = { version = "1.3.2", default-features = false }
-ark-bn254 = { version = "0.4.0", default-features = false, features = ["curve"] }
-ark-ff = { version = "0.4.0", default-features = false }
+ark-bn254 = { version = "0.5.0", default-features = false, features = ["curve"] }
+ark-ff = { version = "0.5.0", default-features = false }
 arrayvec = { version = "0.7.4", default-features = false }
 cfg-if = { version = "1.0.0" }
 fixed = { version = "=1.15.0", default-features = false, features = ["num-traits"] }
diff --git a/zrml/combinatorial-tokens/src/lib.rs b/zrml/combinatorial-tokens/src/lib.rs
index 7e9a7ae8d..148af3f06 100644
--- a/zrml/combinatorial-tokens/src/lib.rs
+++ b/zrml/combinatorial-tokens/src/lib.rs
@@ -1,4 +1,4 @@
-// Copyright 2024 Forecasting Technologies LTD.
+// Copyright 2025 Forecasting Technologies LTD.
 //
 // This file is part of Zeitgeist.
 //
@@ -39,7 +39,9 @@ pub use pallet::*;
 #[frame_support::pallet]
 mod pallet {
     use crate::{
-        traits::CombinatorialIdManager, types::TransmutationType, weights::WeightInfoZeitgeist,
+        traits::CombinatorialIdManager,
+        types::{CollectionIdError, TransmutationType},
+        weights::WeightInfoZeitgeist,
     };
     use alloc::{vec, vec::Vec};
     use core::{fmt::Debug, marker::PhantomData};
@@ -186,6 +188,9 @@ mod pallet {
 
     #[pallet::error]
     pub enum Error<T> {
+        /// An error for the collection ID retrieval occured.
+        CollectionIdRetrievalFailed(CollectionIdError),
+
         /// Specified index set is trival, empty, or doesn't match the market's number of outcomes.
         InvalidIndexSet,
 
@@ -193,9 +198,6 @@ mod pallet {
         /// market's number of outcomes.
         InvalidPartition,
 
-        /// Specified collection ID is invalid.
-        InvalidCollectionId,
-
         /// Specified market is not resolved.
         PayoutVectorNotFound,
 
@@ -643,7 +645,9 @@ mod pallet {
                 index_set,
                 fuel,
             )
-            .ok_or(Error::<T>::InvalidCollectionId.into())
+            .map_err(|collection_id_error| {
+                Error::<T>::CollectionIdRetrievalFailed(collection_id_error).into()
+            })
         }
 
         pub(crate) fn position_from_collection_id(
diff --git a/zrml/combinatorial-tokens/src/traits/combinatorial_id_manager.rs b/zrml/combinatorial-tokens/src/traits/combinatorial_id_manager.rs
index abf23ffff..47cb9389a 100644
--- a/zrml/combinatorial-tokens/src/traits/combinatorial_id_manager.rs
+++ b/zrml/combinatorial-tokens/src/traits/combinatorial_id_manager.rs
@@ -1,4 +1,4 @@
-// Copyright 2024 Forecasting Technologies LTD.
+// Copyright 2025 Forecasting Technologies LTD.
 //
 // This file is part of Zeitgeist.
 //
@@ -22,6 +22,7 @@
 // <https://github.com/gnosis/conditional-tokens-contracts>,
 // and has been relicensed under GPL-3.0-or-later in this repository.
 
+use crate::types::CollectionIdError;
 use alloc::vec::Vec;
 
 pub trait CombinatorialIdManager {
@@ -40,7 +41,7 @@ pub trait CombinatorialIdManager {
         market_id: Self::MarketId,
         index_set: Vec<bool>,
         fuel: Self::Fuel,
-    ) -> Option<Self::CombinatorialId>;
+    ) -> Result<Self::CombinatorialId, CollectionIdError>;
 
     fn get_position_id(
         collateral: Self::Asset,
diff --git a/zrml/combinatorial-tokens/src/types/collection_id_error.rs b/zrml/combinatorial-tokens/src/types/collection_id_error.rs
new file mode 100644
index 000000000..2de7ce936
--- /dev/null
+++ b/zrml/combinatorial-tokens/src/types/collection_id_error.rs
@@ -0,0 +1,35 @@
+// Copyright 2025 Forecasting Technologies LTD.
+//
+// This file is part of Zeitgeist.
+//
+// Zeitgeist is free software: you can redistribute it and/or modify it
+// under the terms of the GNU General Public License as published by the
+// Free Software Foundation, either version 3 of the License, or (at
+// your option) any later version.
+//
+// Zeitgeist is distributed in the hope that it will be useful, but
+// WITHOUT ANY WARRANTY; without even the implied warranty of
+// MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE. See the GNU
+// General Public License for more details.
+//
+// You should have received a copy of the GNU General Public License
+// along with Zeitgeist. If not, see <https://www.gnu.org/licenses/>.
+//
+// This file incorporates work licensed under the GNU Lesser General
+// Public License 3.0 but published without copyright notice by Gnosis
+// (<https://gnosis.io>, info@gnosis.io) in the
+// conditional-tokens-contracts repository
+// <https://github.com/gnosis/conditional-tokens-contracts>,
+// and has been relicensed under GPL-3.0-or-later in this repository.
+
+use frame_support::PalletError;
+use parity_scale_codec::{Decode, Encode};
+use scale_info::TypeInfo;
+use sp_runtime::RuntimeDebug;
+
+#[derive(Decode, Encode, Eq, PartialEq, PalletError, RuntimeDebug, TypeInfo)]
+pub enum CollectionIdError {
+    InvalidParentCollectionId,
+    EllipticCurvePointNotFoundWithFuel,
+    EllipticCurvePointXToBytesConversionFailed,
+}
diff --git a/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/mod.rs b/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/mod.rs
index 236e2b821..b1947d3b0 100644
--- a/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/mod.rs
+++ b/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/mod.rs
@@ -1,4 +1,4 @@
-// Copyright 2024 Forecasting Technologies LTD.
+// Copyright 2025 Forecasting Technologies LTD.
 //
 // This file is part of Zeitgeist.
 //
@@ -26,19 +26,23 @@
 
 mod tests;
 
-use crate::types::cryptographic_id_manager::Fuel;
+use crate::types::{cryptographic_id_manager::Fuel, CollectionIdError};
 use ark_bn254::{g1::G1Affine, Fq};
 use ark_ff::{BigInteger, PrimeField};
 use core::ops::Neg;
 use sp_runtime::traits::{One, Zero};
 use zeitgeist_primitives::{traits::CombinatorialTokensFuel, types::CombinatorialId};
 
-/// Will return `None` if and only if `parent_collection_id` is not a valid collection ID.
+/// Returns a valid collection ID from an `hash` and an optional `parent_collection_id`.
+///
+/// Will return `None` if `parent_collection_id` is not a valid collection ID or
+/// the decompression of the hash doesn't return a valid point of `alt_bn128`
+/// (maybe insufficient `fuel` parameter) or because of a failing bytes conversion.
 pub(crate) fn get_collection_id(
     hash: CombinatorialId,
     parent_collection_id: Option<CombinatorialId>,
     fuel: Fuel,
-) -> Option<CombinatorialId> {
+) -> Result<CombinatorialId, CollectionIdError> {
     let mut u = decompress_hash(hash, fuel)?;
 
     if let Some(pci) = parent_collection_id {
@@ -49,13 +53,19 @@ pub(crate) fn get_collection_id(
 
     // Convert back to bytes _before_ flipping, as flipping will sometimes result in numbers larger
     // than the base field modulus.
-    let mut bytes: CombinatorialId = u.x.into_bigint().to_bytes_be().try_into().ok()?;
+    let bytes_y_even: CombinatorialId =
+        u.x.into_bigint()
+            .to_bytes_be()
+            .try_into()
+            .map_err(|_| CollectionIdError::EllipticCurvePointXToBytesConversionFailed)?;
 
-    if u.y.into_bigint().is_odd() {
-        flip_second_highest_bit(&mut bytes);
-    }
+    let bytes = if u.y.into_bigint().is_odd() {
+        flip_second_highest_bit(&bytes_y_even)
+    } else {
+        bytes_y_even
+    };
 
-    Some(bytes)
+    Ok(bytes)
 }
 
 /// Decompresses a collection ID `hash` to a point of `alt_bn128`. The amount of work done can be
@@ -66,7 +76,7 @@ pub(crate) fn get_collection_id(
 /// evidence that input hash requires more than `log_2(P) = 507.19338271000436` iterations. With a
 /// `fuel.total` value of `32`, statistical evidence suggests a 1 in 500_000_000 chance that the
 /// number of iterations will not be enough.
-fn decompress_hash(hash: CombinatorialId, fuel: Fuel) -> Option<G1Affine> {
+fn decompress_hash(hash: CombinatorialId, fuel: Fuel) -> Result<G1Affine, CollectionIdError> {
     // Calculate `odd` first, then get congruent point `x` in `Fq`. As `hash` might represent a
     // larger big endian number than `field_modulus()`, the MSB of `x` might be different from the
     // MSB of `x_u256`.
@@ -103,9 +113,11 @@ fn decompress_hash(hash: CombinatorialId, fuel: Fuel) -> Option<G1Affine> {
             }
         }
     }
-    core::hint::black_box(dummy_x); // Ensure that the dummies are considered "read" by rustc.
+    // Ensure that the dummies are considered "read" by rustc.
+    core::hint::black_box(dummy_x);
     core::hint::black_box(dummy_y);
-    let mut y = y_opt?; // This **should** be infallible if `DECOMPRESS_HASH_MAX_ITERS` is large.
+    // This **should** be infallible if `fuel.total()` is large.
+    let mut y = y_opt.ok_or(CollectionIdError::EllipticCurvePointNotFoundWithFuel)?;
 
     // We have two options for the y-coordinate of the corresponding point: `y` and `P - y`. If
     // `odd` is set but `y` isn't odd, we switch to the other option.
@@ -113,21 +125,22 @@ fn decompress_hash(hash: CombinatorialId, fuel: Fuel) -> Option<G1Affine> {
         y = y.neg();
     }
 
-    Some(G1Affine::new(x, y))
+    Ok(G1Affine::new(x, y))
 }
 
-fn decompress_collection_id(mut collection_id: CombinatorialId) -> Option<G1Affine> {
+fn decompress_collection_id(collection_id: CombinatorialId) -> Result<G1Affine, CollectionIdError> {
     let odd = is_second_msb_set(&collection_id);
-    chop_off_two_highest_bits(&mut collection_id);
-    let x = Fq::from_be_bytes_mod_order(&collection_id);
+    let chopped_collection_id = chop_off_two_highest_bits(&collection_id);
+    let x = Fq::from_be_bytes_mod_order(&chopped_collection_id);
 
     // Ensure that the big-endian integer represented by `collection_id` was less than the field
     // modulus. Otherwise, we consider `collection_id` an invalid ID.
-    if x.into_bigint().to_bytes_be() != collection_id {
-        return None;
+    if x.into_bigint().to_bytes_be() != chopped_collection_id {
+        return Err(CollectionIdError::InvalidParentCollectionId);
     }
 
-    let mut y = matching_y_coordinate(x)?; // Fails if `collection_id` is not a collection ID.
+    // Fails if `collection_id` is not a collection ID.
+    let mut y = matching_y_coordinate(x).ok_or(CollectionIdError::InvalidParentCollectionId)?;
 
     // We have two options for the y-coordinate of the corresponding point: `y` and `P - y`. If
     // `odd` is set but `y` isn't odd, we switch to the other option.
@@ -135,12 +148,14 @@ fn decompress_collection_id(mut collection_id: CombinatorialId) -> Option<G1Affi
         y = y.neg();
     }
 
-    Some(G1Affine::new(x, y))
+    Ok(G1Affine::new(x, y))
 }
 
-/// Flips the second highests bit of big-endian `bytes`.
-fn flip_second_highest_bit(bytes: &mut CombinatorialId) {
+/// Flips the second highest bit of big-endian `bytes`.
+fn flip_second_highest_bit(bytes: &CombinatorialId) -> CombinatorialId {
+    let mut bytes = *bytes;
     bytes[0] ^= 0b01000000;
+    bytes
 }
 
 /// Checks if the most significant bit of the big-endian `bytes` is set.
@@ -154,8 +169,10 @@ fn is_second_msb_set(bytes: &CombinatorialId) -> bool {
 }
 
 /// Zeroes out the two most significant bits off the big-endian `bytes`.
-fn chop_off_two_highest_bits(bytes: &mut CombinatorialId) {
+fn chop_off_two_highest_bits(bytes: &CombinatorialId) -> CombinatorialId {
+    let mut bytes = *bytes;
     bytes[0] &= 0b00111111;
+    bytes
 }
 
 /// Returns a value `y` of `Fq` so that `(x, y)` is a point on `alt_bn128` or `None` if there is no
diff --git a/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/tests/decompress_collection_id.rs b/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/tests/decompress_collection_id.rs
index 5764626b1..926ff1cfc 100644
--- a/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/tests/decompress_collection_id.rs
+++ b/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/tests/decompress_collection_id.rs
@@ -1,4 +1,4 @@
-// Copyright 2024 Forecasting Technologies LTD.
+// Copyright 2025 Forecasting Technologies LTD.
 //
 // This file is part of Zeitgeist.
 //
@@ -574,5 +574,5 @@ fn decompress_collection_id_works(collection_id: CombinatorialId, expected: (&st
 )]
 fn decompress_collection_id_fails_on_invalid_collection_id(collection_id: CombinatorialId) {
     let actual = decompress_collection_id(collection_id);
-    assert_eq!(actual, None);
+    assert_eq!(actual, Err(CollectionIdError::InvalidParentCollectionId));
 }
diff --git a/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/tests/get_collection_id.rs b/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/tests/get_collection_id.rs
index fd47e4345..34a698a89 100644
--- a/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/tests/get_collection_id.rs
+++ b/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/decompressor/tests/get_collection_id.rs
@@ -1,4 +1,4 @@
-// Copyright 2024 Forecasting Technologies LTD.
+// Copyright 2025 Forecasting Technologies LTD.
 //
 // This file is part of Zeitgeist.
 //
@@ -86,6 +86,7 @@ fn get_collection_id_works(
     #[values(false, true)] consume_all: bool,
     #[case] expected: Option<CombinatorialId>,
 ) {
-    let actual = get_collection_id(hash, parent_collection_id, Fuel { total: 16, consume_all });
+    let actual =
+        get_collection_id(hash, parent_collection_id, Fuel { total: 16, consume_all }).ok();
     assert_eq!(actual, expected);
 }
diff --git a/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/mod.rs b/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/mod.rs
index 54343f14e..f29975101 100644
--- a/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/mod.rs
+++ b/zrml/combinatorial-tokens/src/types/cryptographic_id_manager/mod.rs
@@ -1,4 +1,4 @@
-// Copyright 2024 Forecasting Technologies LTD.
+// Copyright 2025 Forecasting Technologies LTD.
 //
 // This file is part of Zeitgeist.
 //
@@ -25,6 +25,7 @@
 mod decompressor;
 mod hash_tuple;
 
+use super::CollectionIdError;
 use crate::traits::CombinatorialIdManager;
 use alloc::vec::Vec;
 use core::marker::PhantomData;
@@ -83,7 +84,7 @@ where
         market_id: Self::MarketId,
         index_set: Vec<bool>,
         fuel: Self::Fuel,
-    ) -> Option<Self::CombinatorialId> {
+    ) -> Result<Self::CombinatorialId, CollectionIdError> {
         let input = (market_id, index_set);
         let hash = Hasher::hash_tuple(input);
 
diff --git a/zrml/combinatorial-tokens/src/types/mod.rs b/zrml/combinatorial-tokens/src/types/mod.rs
index bb5cce9cf..f23b68450 100644
--- a/zrml/combinatorial-tokens/src/types/mod.rs
+++ b/zrml/combinatorial-tokens/src/types/mod.rs
@@ -1,4 +1,4 @@
-// Copyright 2024 Forecasting Technologies LTD.
+// Copyright 2025 Forecasting Technologies LTD.
 //
 // This file is part of Zeitgeist.
 //
@@ -15,10 +15,12 @@
 // You should have received a copy of the GNU General Public License
 // along with Zeitgeist. If not, see <https://www.gnu.org/licenses/>.
 
+mod collection_id_error;
 pub(crate) mod cryptographic_id_manager;
 pub(crate) mod hash;
 mod transmutation_type;
 
+pub use collection_id_error::CollectionIdError;
 pub use cryptographic_id_manager::{CryptographicIdManager, Fuel};
 pub(crate) use hash::Hash256;
 pub use transmutation_type::TransmutationType;