Prediction markets are gaining traction in sports gambling, with platforms like Polymarket leading the way. A recent report shows Polymarket has topped $1 billion in annualized revenue. These markets…
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Prediction markets are gaining traction in sports gambling, with platforms like Polymarket leading the way. A recent report shows Polymarket has topped $1 billion in annualized revenue. These markets operate on an event trading platform standard, allowing users to buy contracts based on outcomes.
Contracts are priced according to the predicted probability of an event, and users can buy as many as they want. If the predicted outcome occurs, each contract is worth $1, and winnings are calculated using a multiplier. Users can even buy contracts during a game, based on certain events.
Further details on how prediction markets work and their potential volatility are available from the source.
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