Polkamarkets Taking Over the Decentralised Prediction Markets with DeFi-Powered Platform

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Decentralised prediction markets have risen to prominence recently in line with the growing popularity of cryptocurrency and blockchain-based applications. Frustrations with the regulations and limitations of mainstream prediction markets have also led players to search for better alternatives. The decentralised prediction markets offer greater flexibility, allowing users to bet on the outcome of future events in a more open and cheaper manner in a censorship-resistant environment. Users are also able to create their own markets, make forecasts, and bet on them. Additionally, users can bet on a fraction of the outcome thus getting rewards based on their predictions. The big shift from centralisation to decentralisation The ongoing shift towards decentralised prediction markets is an end result of years of failure to innovate in an industry with enormous potential. The prediction markets have stagnated with the key players getting complacent after operating in a closed industry with very stringent regulations. They…

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