"Allocation exhausted" means that all available tickets or resources for a particular event or allocation have been fully sold or allocated, and there are currently no more tickets or resources left to purchase or use. This term is commonly used in ticketing contexts to indicate that the initial pool of tickets has been completely taken. Sometimes, additional tickets may be released later at the discretion of the event promoter, but there is no guarantee of that. In essence, it signals that the supply has been fully used up at that time.