When blockchain meets prediction market: Using transactions to understand the future
Regarding prediction market, the most eye-catching thing recently is Ploymarket's ruling on Zelensky's suit.
Zelensky wore a "wartime suit" when he attended. Although major media around the world used the word "suit" in their reports, the oracle UMA that Ploymarket relied on changed its answer from "yes" to "no", causing an uproar.
The amount of bets in this gambling alone reached 240 million US dollars, reflecting the huge investment attraction that can be generated by the combination of blockchain and prediction market.
Binance Research compiled a report on prediction market, which deeply explains the importance of decentralization to prediction market and the mechanism of oracle.
If you are interested in this kind of application, it is recommended to spend a few minutes reading this article 👇
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