Prediction markets are online platforms where users predict future outcomes, with the belief that collective predictions from diverse groups are often more accurate than individual expert opinions. These markets have gained popularity and have even influenced traditional news outlets. They work by allowing users to buy shares in potential outcomes, with prices reflecting perceived probabilities.
The rise of Web3 prediction markets has spurred interest due to their transparency and elimination of intermediaries, but regulatory challenges and potential inaccuracies remain. As these markets continue to evolve and adapt to user interests and global circumstances, they could become important tools for forecasting and shaping a more informed society.
