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Prediction markets are speculative markets, very similar to futures markets which have been designed so that the prices can be interpreted as probabilities for events occurring and used to make predictions. Put very simply prediction markets enable users to trade shares in the outcomes of an event and in so doing to reveal the information that people have about the likelihood of an event occurring. In a very elegant way, blockchain prediction markets use tokens to reduce uncertainty and find truths about future events, as they align truthful statements with token investments. They create a way for people and groups to come to consensus about a shared conception of reality by using markets to create valid sources of information.
Take the full course: https://systemsacademy.io/courses/tok...
Prediction markets are speculative markets, very similar to futures markets which have been designed so that the prices can be interpreted as probabilities for events occurring and used to make predictions. Put very simply prediction markets enable users to trade shares in the outcomes of an event and in so doing to reveal the information that people have about the likelihood of an event occurring. In a very elegant way, blockchain prediction markets use tokens to reduce uncertainty and find truths about future events, as they align truthful statements with token investments. They create a way for people and groups to come to consensus about a shared conception of reality by using markets to create valid sources of information.