【Polymarket】World's largest decentralized prediction market / Predicting and betting on outcomes in politics, sports, crypto, entertainment, etc. / Peter Thiel and Vitalik also invested / @Polymarket
Predictive markets are considered the future of news.
Good morning.
This is mitsui from web3researcher.
Today I researched "Polymarket".
🔵What is Polymarket?
💰Peter Thiel and Vitalic also invested in
💬Predictive Market is the future of news
🔵What is Polymarket?
Polymarketis theworld's largest decentralized prediction marketplace. Make predictions on everything from politics, sports, crypto, entertainment, and more, and get paid if you're right.
We will look at specific uses.
For example, below is the betting on who will be the President of the United States. Trump leads with 56%, indicating that he is the favorite.
The "Bet now" button takes you to the purchase page, where you can choose who you actually want to bet on. The price (odds) at this pointrepresents thecurrent probability that the event will occur. In this case, Trump is predicted to have a 56% chance of becoming president, so the shares are priced at 56 cents apiece.
Thus, the current probability is the price, and you buy the shares you predict yourself. Let us assume that we buy one share of Trump's stock at 56 cents.
And if the prediction is correct when the results come out and Trump becomes president, the "Yes" shares will be worth $1.00 per share. Thus, 56 cents per share becomes $1.00, a profit of 44 cents.
