CandleFocus What is Polymarket? A Guide to The Popular Prediction Market
2024-11-01
Author: Content Editor
Polymarket is a prediction market ecosystem built on the Polygon network. Users can make predictions on a range of events, from politics to pop culture, and trade shares based on the likelihood of specific outcomes. The platform operates without a central "house" or set odds, with prices determined by user sentiment and supply and demand. Users need to set up an account and fund it with USDC and a small amount of MATIC for network fees. Polymarket generates revenue through platform activity. It offers advantages such as transparency through decentralized verification, but also has limitations, such as potential market manipulation. Overall, it is considered safe as long as users secure their crypto wallets and stay updated on market developments.
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