Prediction markets enable individuals to bet on the outcomes of different future events, from sports games, elections, and the weather to the future value of stocks or other financial assets. This is a natural area for DeFi tools to be deployed: Blockchain based prediction markets do not exist in one single jurisdiction and are not controlled by a single entity. Instead, they are community-owned and open-source. They do not rely on a single authority for truth and trust, and they can also be global and more liquid, connecting disparate communities into one single marketplace.
On today's episode Alex and Andrew dig into prediction markets and focus in the recent success of SX Network, creator of the world's largest blockchain prediction market, and the most popular decentralized prediction market application, SX.bet. SX Bet has processed $175 million in trades across ~900,000 bets since its launch. With over $100 million of these trades taking place in the last six months, SX.Bet is the largest blockchain-based prediction market in the world. SX just closed a $9.5 Million funding round to fuel the next stage of its growth as a fully-fledged blockchain for prediction market applications.
To understand the implications of prediction markets on everything from risk management to sports betting and everything in between, tune in!