Syllable division derived from spelling — this word is not in the pronouncing dictionary, so no phonetic transcription is shown rather than a guessed one.
pre-empt is a noun meaning "a high bid that is intended to prevent the opposing players from bidding". It carries one recorded sense.
a high bid that is intended to prevent the opposing players from bidding
Definitions, synonyms and semantic relations for pre-empt come from Princeton University’s WordNet. Commonness is measured against a corpus of everyday English. Full sources and licences.