According to a Grayscale research report, given the growing distrust of the media, Grayscale Research believes that by leveraging the transparency and record-keeping capabilities of blockchain technology, market incentives, and the collective wisdom of users, prediction markets that leverage the power of blockchain have the potential to become a "source of truth."
Decision makers often need access to timely, accurate information, but according to a recent poll, trust in the media in the United States is currently at its lowest point in the past 50 years. Amid rising cases of false information, nearly three-quarters of American adults believe that the news media has contributed to political polarization, and nearly half express little trust in the media's ability to report the news fairly and accurately.
As technology and economic incentives have reshaped the traditional media landscape over the past two decades, policymakers appear to be searching for alternatives. Grayscale Research believes prediction markets could be part of the solution, especially those that leverage the power of blockchain technology.
