Can Cryptocurrency Prediction Markets Forecast the Future at Gnosis? — Market Mad House

The team behind the Gnosis (GNO) cryptocurrency is betting everything on prediction markets.

Thus, Gnosis’s strategy runs counter to its competitor Augur (REP). Augur is converting its ecosystem into a no-limit betting platform. I think this change could make Augur a lot of money.

For instance, Augur is enabling US Dollar betting with the Dai (DAI) or Multi-collateral (DAI) stablecoin. Using the Dai could make Augur lucrative because Dai can pay in US dollars. To explain, stablecoins such as Dai pay users in US dollars from trust bank accounts.

Augur is planning to release its Augur V2 no-limit betting platform soon. You can bet now on the Augur V1 no-limit betting platform.

Gnosis’s Prediction Markets

In contrast Gnosis’s business plan is to enable anyone to create decentralized prediction market platforms. Gnosis’s hope is that users could make money by building customized forecasting applications.

A prediction market is a collection of people who speculate on the occurrence of events. For example people bet on the outcome of elections at a political prediction market.