50 sats \ 1 reply \ @Bell_curve 3 Aug \ on: Polymarket vs PredictIt news
From perplexity
PredictIt is an online prediction market that allows users to place bets on political and financial events[2]. Here are some key points about PredictIt:
  • It operates as a continuous double auction, where users buy and sell shares related to the predicted outcomes of events[2].
  • The site groups related predictions into markets covering topics like U.S. elections, the Biden administration, Congress, and world events[2].
  • PredictIt charges a 10% fee on profits and an additional 5% withdrawal fee to cover operating expenses[2].
  • It was launched in November 2014 as a project of Victoria University of Wellington, New Zealand[2].
  • The site operates under restrictions to comply with U.S. regulations, including an $850 cap on individual investments per question and a limit of 5,000 traders per market[2].
  • In August 2022, the Commodity Futures Trading Commission (CFTC) moved to shut down PredictIt, claiming it had violated the terms of its regulatory approval[2][3].
  • PredictIt filed a lawsuit challenging the CFTC's decision, and as of January 2023, was allowed to continue operating while the court considered the case[2][3].
Sources [1] PredictIt https://www.predictit.org [2] PredictIt - Wikipedia https://en.wikipedia.org/wiki/PredictIt [3] This site bet big on political gambling. Regulators want it shut down. https://www.washingtonpost.com/lifestyle/2023/01/24/predictit-gambling-on-politics/ [4] What Betting Markets Like Polymarket, PredictIt Tell Us About 2024 ... https://www.bloomberg.com/news/newsletters/2024-07-31/what-betting-markets-like-polymarket-predictit-tell-us-about-2024-election [5] PredictIt 2020 Presidential Election Markets - 270toWin https://www.270towin.com/maps/predictit-2020-presidential-election-odds [6] PI https://twitter.com/PredictIt
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20 sats \ 0 replies \ @Bell_curve 3 Aug
Polymarket has much higher volume than Predict.
Hence more reliable
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