Driven by the presidential election, crypto prediction market projects are being undervalued

author:Revelo Intel

Compiled by: Xiaobai Navigation coderworld

Do you know, @Polymarket It is currently the world's largest prediction market platform, with the 2024 US presidential election having the highest market liquidity. More than $200 million has been bet on this event.

What are prediction markets and what do you need to know?

Prediction markets are derivative markets where participants place bets on the outcome of an event. These markets are usually binary options where the outcome is either 1 or 0. By pooling the collective knowledge and bets of many people, the probability of an event occurring is estimated.

Prediction markets offer several advantages over traditional forecasting methods such as surveys and polls.They incentivize accurate predictions, aggregate diverse information, provide real-time updates, reduce bias, and scale easily.

These markets are cost-effective, have a proven track record of accuracy, and are valuable to decision-makers in both the public and private sectors.

existcryptocurrencyIn addition, offshore centralized providers often limit the amount of bets that can be placed on specific outcomes, similar to sports betting. This limits the ability of individuals to fully exploit their own insights, and the final outcome is often controlled by the centralized operator.

cryptocurrencyPrediction markets remove these barriers and allow users to leverage their knowledge without any restrictions.BlockchainAnd decentralized ledgers create a transparent global market that has advantages over centralized systems.intelligentcontractProtect the rights of participants and ensure that the platform is fair and non-deceptive.

Crypto prediction markets, such as @Polymarket , @AugurProject ,as well as @azuroprotocol Redefining market creation, allowing anyone to propose and bet on almost anything. Unlike traditional markets, they offer dynamic speculative opportunities that are not bound by predefined events. Users can participate as traders, liquidity providers, or event creators, providing users with flexibility and participation.

The market opportunity for prediction markets is vastly underestimated.随着衍生品市场规模超过一千亿美元，成功的cryptocurrency项目利用的是现有的用户群，而不是投机未开发的市场。 @Polymarket In two rounds of financingRaised $70 million, whose most recent $45 million Series B funding round was led by Peter Thiel’s Founders Fund, with participation from Vitalik Buterin. So far, the platform has generated $202 million worth of forecasts through 2024.

Polymarket currently charges no fees to either makers or takers, but this structure may change in the future.

While some view prediction markets as casinos,TokenUtility provides a unique use case. GovernanceTokenHolders can vote on disputes to ensure fair resolution.

intelligentcontractDecentralized mechanisms such as staking and arbitration pools increase transparency and prevent manipulation.The system creates an immutable and auditable record of decisions.One of the main advantages of crypto prediction markets is theirDecentralizationUnlike traditional markets that are controlled by centralized entities, theyBlockchainRun on the Internet, allowing anyone in the world to create and participate in markets.

The article comes from the Internet:Driven by the presidential election, crypto prediction market projects are being undervalued

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