Prediction markets have taken the world by storm, enabling consumers to predict the outcomes of sports contests, entertainment events, political events, cryptocurrency prices, and more. Ineed, they share some similarities with traditional online sportsbooks. Yet, there are three key differences, according to Coinbase Global (NASDAQ:COIN) Head of Prediction Markets Toni Gemayel.
Sportsbooks Vs. Prediction Markets Differences
Coinbase recently rolled out its prediction markets powered by Kalshi. It offers markets on sports, cryptocurrency prices and a wide range of outcomes.
Gemayel told Benzinga that while sports often grab headlines as prediction markets compete with online sportsbooks, “sports are the least interesting part of prediction markets” to him.
“There’s just so many other interesting aspects to them,” Gemayel said.
Though sports markets may draw the most attention, Gemayel outlined three key differences between online sportsbooks and prediction markets that help explain the …