A market is a platform where participants can make predictions about future events or facts. Participants demonstrate their confidence in their predictions by placing a certain amount of money as collateral. As time progresses, the event or fact in question will reach a definitive outcome. Participants who accurately predict the outcome are rewarded with the collaterals of those who made incorrect predictions. This incentives participants to carefully analyze and make informed predictions in order to maximize their chances of winning.
A prediction market is a market that is specifically designed to facilitate the trading of predictions. Participants can buy and sell predictions about future events or facts. The price of a prediction is determined by the market, and it reflects the collective confidence of the participants in the outcome of the event or fact in question.
A prediction is a statement or claim about the outcome of a future event or fact. Predictions can be about anything, from the weather to the outcome of a sports game. In a prediction market, participants can buy and sell predictions in order to profit from their accuracy.