What Are Prediction Markets in Crypto?

As their name implies, crypto prediction markets allow you to make money by betting on future outcomes of various crypto events. In general, prediction markets are divided into two types: sports and non-sports (crypto falls into the category of non-sports-related prediction markets).

Unlike traditional prediction markets, crypto prediction markets leverage blockchain technology, so they’re decentralized, globally accessible and highly transparent, especially in terms of price discovery. While traditional prediction markets carry most of the volume in this niche, there’s a growing demand for crypto prediction markets as crypto’s market cap continues to grow rapidly.

Let's dig deeper into crypto prediction markets and learn how you can capitalize on them to make extra money.

Key Takeaways:

• Crypto prediction markets provide platforms for you to wage bets on the outcome of various events using cryptocurrencies.

• Notable crypto prediction markets, including Polymarket, Augur and Drift BET, feature user-friendly and affordable platforms.