Prediction Market Primitive

Definition ∞ A Prediction Market Primitive is a fundamental, atomic component or building block used to construct decentralized prediction markets on a blockchain. This primitive enables users to wager on future events, with payouts automatically determined by verifiable outcomes. It serves as a core mechanism for event-driven contracts.
Context ∞ Prediction market primitives are key elements in the ongoing development of decentralized autonomous organizations and various governance systems, offering mechanisms for collective forecasting and decision-making. Their secure and efficient implementation is crucial for the integrity and utility of these innovative platforms. News often discusses new applications and advancements built upon these foundational components.