Landscape of Prediction Markets: Centralization vs. Permissionless Protocols

Prediction markets, once niche experiments, have evolved into significant financial instruments. These platforms, where participants trade on the outcomes of future events, have attracted significant attention due to their demonstrated ability to be more accurate than traditional polls and commentators, particularly concerning critical political and economic results. Their rise is further fueled by the desire for individuals to leverage their knowledge for profit and a broader cultural obsession with real-time data and future outcomes, leading to hundreds of millions, and sometimes billions, of dollars flowing through these markets weekly. The industry’s success has validated a multi-billion dollar demand source: https://beincrypto.com/landscape-of-prediction-markets-centralization-vs-permissionless-protocols/