The 2020 Elections Are Boosting Crypto Prediction Markets

A new prediction market platform is set to go live on the ethereum network this week. Called Gnosis, the project will allow users to wager on future events by asking and answering questions about the outcome of sports games or elections. However, the platform's creators envision Gnosis one day serving as a platform for a wide range of user-created prediction markets. An example touted by the team is a sample platform called Hunchgame, which would see Gnosis being used as a basis for a prediction market centered on celebrity gossip. One of the more experimental use cases for public....

Augur, a decentralized platform allowing individuals to create prediction markets on a vast array of topics, announced today that it was launching its alpha test."Traditionally, prediction markets have fallen short due to their need for volume in order to be valuable forecasting tools," explained Jeremy Gardner, the Director of Operations at Augur. "Having a global, unstoppable, blockchain-based prediction markets platform means anyone in the world with internet can connect to Augur."However, Augur is not, itself, a prediction market. Rather, it is open-source code for a prediction markets....

Betting can be used to predict the future. That's the crazy idea behind prediction markets. Here's how they work and where cryptocurrency fits into the picture.

Bloq Economist and Bitcoin Hivemind creator Paul Sztorc has been fascinated with prediction markets for many years, and he views these mechanisms for the creation of “event derivatives” as an essential public good. Although Sztorc had been a supporter of centralized prediction market InTradein the past, he now sees the need for a blockchain-based solution to allow these sorts of markets to proliferate around the world. Recently, Sztorc chatted with Adamant Research Editor in Chief Tuur Demeester about prediction markets, Bitcoin, sidechains and many other topics. During the discussion,....

YieldWars used Associated Press data to settle their prediction market, but some question the validity of using their call as an oracle Following the Associated Press’ call earlier today that President-elect Joe Biden had won victory over incumbent Donald Trump in the U.S. presidential race, the 174 year-old organization -- which has been covering elections since 1848 -- subsequently published their call on the Ethereum and EOS blockchains, triggering at least one prediction market outcome. However, some have expressed skepticism about the validity of using such a call as an oracle,....