Prediction markets and Betting are much similar but not the same. While focusing on @trylimitless lets see how the two vary.

Primary Focus

Betting: For entertainment or profit, focusing on individual risk-taking.

Prediction Markets: Designed for forecasting and aggregating information to estimate event probabilities.

Mechanism used.

Betting: Bookmakers set fixed odds, and bettors wager against the house, often with a built-in margin

Prediction Markets: Participants trade contracts dynamically, with prices adjusting via supply and demand, often through continuous double auctions or automated market makers

Accuracy

Betting: Odds may not reflect true probabilities due to bookmaker margins or biases

Prediction Markets: Prices reflect aggregated crowd beliefs, often more accurate.

Regulation and Licencing.

Betting: Regulated as gambling, often restricted in specific regions.

Prediction Markets: May fall under financial regulations but face gambling law challenges.

gLimitless fam