We are losing the plot.
Submerged in disinformation, misinformation, fake news and propaganda, we are increasingly suspicious of - or foolishly confident in - the opinions expressed in all forms of media by all sorts of people.
Corporate interests and calcified consensus. Political correctness and extremist posturing. Influencers and astroturfers. How can we possibly trust anything that’s purported and pedalled as “the truth”?
The sum total of human knowledge at our fingertips, served alongside conspiracy theories and junk science. All of it, and us, flushed down fracturing feeds of endless content.
Right now, the incentives are structured entirely in favour of a handful of establishment platforms who profit from our outrage, hate and fear.
But what if we could profit from the actual truth?
What if it paid, not to get mad, but to be correct?
And what if we got better at predicting the future while doing it?
Enter: prediction markets.
Prediction markets are exchanges where people can trade contracts that pay out based on the outcomes of future events.
Traders are motivated to acquire and act on their own expertise and private knowledge, and so prediction markets are excellent mechanisms for discovering information, discarding falsehoods, and predicting the future.
Our belief is that such markets can have a positive impact on society. And that's why we have created Polkamarkets.