Poly Market Overview - Poly Market is a platform with 15 categories including politics, culture, sports, and finance, offering prediction markets on various events [1] - The platform hosts approximately 10,000 questions or markets at any given time, many with multiple possible outcomes [2] - Users wager on yes/no questions, with odds determined by collective bets, creating a dynamic information market [2][3] Market Focus and Scope - Poly Market aims to cover important geopolitical, macroeconomic, and cultural events [4] - Markets range from serious topics like elections to more trivial ones like celebrity events [4] - Elections are a major draw, with significant amounts wagered on events like the Irish election [5] Financial Aspects - The Irish election market has $135 million being bet [5] - Over $6 million (3.6%) had been wagered on whether Venezuela's President Maduro would be out of power by the end of the year, with users giving it a 23% chance [6] - Users can potentially profit by buying shares at a certain price and receiving $1 per share if their prediction is correct [7] User Engagement and Incentives - The platform incentivizes users to research and understand geopolitical events to gain an edge in predictions [8] - The compelling nature of the platform can be seen as potentially addictive [7]
Inside look at Polymarket #shorts
60 Minutes·2025-12-02 15:04