The Bull Case For Prediction Markets | Ryan & David
Episode publishedPodcast: BanklessBankless
Transcript preview
Preview only
Welcome to Banklist where today we are exploring prediction markets. There are a ton of questions going around about prediction markets. Maybe initially, what are they? But really, why are they capturing so much attention right now? Who are the big players? Where do they come from? And maybe the big question is how big are prediction markets and how big can they get? Some people think that they're going to become absolutely huge. And then why are prediction markets sometimes compared to sports betting platforms and why that's a bad comparison? Why prediction markets are just going to be so muc
I'm good. I'm little bit sick, but you know, this voice is gonna carry through. I I do think it's time now for prediction markets episode. Right? Yeah. Mean, we've been bullish on prediction markets for a very long time. I've kind of seen them grow via crypto. They were one of early Ethereum use cases with, you know, Augur. Polymarket was born on Ethereum. It's very crypto native, and it seems very much like a breakout application that's gone mainstream this cycle. So I wanna talk to you about how much crypto is actually involved in these prediction markets as well and how many, like, the the
Yeah. Down in DevConnect, this is for everyone who's going down to Buenos Aires for Ethereum's DevConnect, if you are one of those people. We are throwing the Bankless Summit. It's a one day event. Think like TED Talks for Ethereum. All of your favorite speakers are gonna be there. Donkrad, Ansgar, Tamash, the new co ED of the EF. And then there's some other people as well. Luca from Layer two, Beat, Shay from Flashbots, Uma Roy from succinct. And then just there's a bunch of just good talks. You're just gonna sit in a seat. You're gonna be entertained by some really good content. And you're g
that they are. Because they go up in price over time. Just like crypto.
Just like crypto. And the crypto only goes up.
Only goes up. Yeah. Speak of only going up. Okay. Prediction markets, they have only gone up in recent years. Let's start with the definition. What are prediction markets, David?
Yeah. I think people are becoming more and more familiar with prediction markets, especially with South Park. Made a whole episode on them, and then you had just Kyle from South Park explaining them. It's worth rewatching.
What are you guys talking about? Prediction market app, dude. You know, online peer to peer betting. Yeah. Social platform betting. People can make any bet they want, and then other users take them up on it. Really? Yeah. It's pretty sweet, dude. People bet on anything, even stuff here at the skew. See? Will the girls soccer team win on Friday? Will there be a snow day this month? Will cow's mom strike Gaza and destroy Palestinian hospital? Will school lunch have tater tots next week?
But it's just a very simple place where people place trades based on the outcome of future events. And a future event can be anything. It can be an election, it can be a sports game, it can be economic data, any future event that's going to have like a binary outcome. People can come to a marketplace and trade peer to peer. That peer to peer element is very important, that's what this makes this to be a marketplace and not like a bookie model. So there's there are sports betting platforms that are like the house and they have a book that they just determine what the odds are. That's not how pr
Keep exploring with a free account.
A free account preserves the short preview. Upgrade to Pro for the full transcript and episode chat.