Prediction Markets use the ‘wisdom of the crowd’ to predict how real-world events will play out. By aggregating the betting from lots of different people they deliver an unbiased source of truth and are a promising, fast-growing application of what is called “information `finance”.
Prediction markets are becoming one of the early breakout usecases of blockchain, as this new infrastructure now allows anyone in the world with a smartphone to bet, 24/7, at a very low cost and with no counterparty risk.
Polymarket is the first break-out application of prediction markets. With the emergence of stablecoins, improved blockchain scalability and a much better user experience around using blockchain wallets, Polymarket has seen tremendous success. This has culminated in a $2bln investment by ICE, the parent company of the New York Stock Exchange, the single largest fundraising round in 2025 outside of AI.
At our Legends4Legends conference Ben Forman, founder of ParaFi Capital and an early investor in Polymarket, lays out the relevance of Prediction Markets in a concise and clear manner. As Ben says in his talk the most powerful thing in the world is an idea whose time has come. And he believes this is the case for Prediction Markets, which Ben expects to transform the way we ascertain what is true in society.
In another strong illustration of traction, post Ben’s Legends4Legends talk, Google announced the integration of real-time Prediction Markets data from Polymarket and Kalshi into its products, specifically Google Search and Google Finance.
Watch Ben Forman’s talk from Legends4Legends here and explore why prediction markets might redefine how society finds what’s true.