The 2020 U.S. presidential election market on Forecastory
Forecastory now hosts the 2020 U.S. presidential election prediction market!🇺🇸🇺🇸
You can access the market here
You can bet on the election outcomes and you will get rewarded if you can predict the result correctly.
The opportunity
Presidential elections have been one of the hottest topics in prediction markets. The history of prediction markets has started from the U.S. presidential elections.
There is no doubt that the U.S. is the most influential country in the world. The result of the election may affect;
- How the global economy will look like
- How the relationship between China and the U.S. will be
- How much Covid-19 relief will be
- Whether Fed prints further money and go brrrr…
Moreover, considering today’s unclear society, the result is critical to making sense of the future.
The market
The market is live here. you can bet on outcomes by November 2, 2020, UTC.
With DAI, you can buy the option of Donald Trump, Joe Biden, or Invalid.
To take advantage of this opportunity, you either need to
Buy a winning option for the outcomes.
After a specific time, the pooled funds of all options will be redistributed to the winning option.
For example, if people invest $1,000 in each of three options, the market’s total volume becomes $3,000. This $3,000 will be redistributed only to the winning option.
Buy an option as early as possible.
The price of each option increases as more option token issued. The incremental rate is set at 0.001 DAI per token issued. The rate is universal within the market. You invested the first 1DAI to an option, and you can sell your options at higher prices if more funds are invested in the same option.
In practice, the prices of each option increase as follows.
$1.36 when $1,000 invested in the option
$2.16 when $5,000 invested in the option
$2.79 when $10,000 invested in the option
*All assuming 1 DAI = $1
This means even if no one invests in other options, you can get rewarded since you invested earlier. market is accessible from this link.
About Forecastory
Forecastory is a peer-to-peer prediction market protocol based on Ethereum that incorporates a new paradigm of mechanism to provide long-tail market liquidity. Forecastory’s core components implemented bonding curve and parimutuel mechanism for algorithmic market making. Prediction markets are known for their ability to predict the future accurately.
https://medium.com/forecastory/introducing-forecastory-3d2d667e633e
