In prediction markets, traders bet on verifiable outcomes of real-world events in specified time frames. Typically, they buy “yes” or “no” shares in an outcome, and each share pays $1 if the prediction comes true, or zero if not. (On Polymarket, bets are settled in USDC, a stablecoin, or cryptocurrency that trades one-to-one for dollars; other platforms, including Kalshi and PredictIt, pay out regular greenbacks.)
Source: https://www.coindesk.com/markets/2024/11/04/if-us-election-is-disputed-prediction-markets-could-face-hornets-nest/?utm_medium=referral&utm_source=rss&utm_campaign=headlines