Many people oversimplify prediction markets, thinking it's just gambling. In reality, the origins of this thing are much older than you think.

Let's look at insurance—this thing is very likely the first prediction market in human history to be formalized and scalable within a system. Don't underestimate insurance; its operating logic is based on probability theory to make money. Simply put, what insurance companies are doing is essentially the same as modern prediction markets.

This is why some things seem unfamiliar but have actually long been integrated into our daily lives. The way prediction markets think, the mechanism of probability-based pricing—these have always been around, just under different disguises. Once you understand this logic, looking at various prediction platforms in Web3, you'll be able to see what they are really doing.