Polymarket is a decentralized prediction market platform that operates on the Ethereum and Polygon Blockchain networks. It enables users to trade shares representing the likelihood of real-world events using cryptocurrency. The platform covers a wide range of events including elections, sports outcomes, and economic forecasts. Polymarket's key features include transparency and immutability through blockchain technology, as well as stability in transaction values by using stablecoins like USDC. Its decentralized nature allows global participation in the prediction markets.
Polymarket allows users to bet on the likelihood of future events by purchasing shares priced between $0.00 and $1.00. The price reflects the event's probability, and if the outcome aligns with the chosen option, each share becomes worth $1.00, resulting in a profit. Polymarket offers different types of prediction markets, including binary markets (yes/no outcomes), categorical markets (multiple outcomes), and scalar markets (based on ranges).
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