Crypto
Coinbase Launches Prediction Market for College Football Game
Coinbase has been experimenting with prediction markets on its platform, allowing users to bet on real-world events.
The latest example is a market created for a college football game between South Dakota and Boise State. Users can buy contracts that will pay out $1 if the event happens (in this case, the game's outcome) and nothing otherwise.
The prices of these contracts reflect the market's odds of the event happening. For example, at one point, a contract for 'yes' was priced at around 65%, indicating a 35% chance that the event would not happen.