The Crypto Betting Industry (Prediction Markets): An Overview

5 min read

Crypto betting

What Are Prediction Markets A prediction market is a collection of people speculating on the occurrence of events in the future. Some of these events include: election results, commodity prices, sporting events, and more. Through the use of the “wisdom of the crowd” these markets determine the probability of a future outcome. Those who forecast the outcome correctly win money, and those who don’t lose. Prediction Market Use Cases (why these markets are necessary) Prediction markets have multiple use cases. The first is forecasting future events.Prediction markets have been used to “accurately forecast the outcome of political contests, sporting events…...

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Igor Davidov Fascinated with all things crypto-related since finding out about it mid 2017. Was entering my second year of law school at the time of discovering crypto. My passion only grew during that time and now, post-graduation, I am transitioning to working full time in the space.